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Indian Indices continue remain sluggish during the post-noon trading session amid mixed international markets. Stocks from the realty and PSU sectors are witnessing maximum buying interest. While power, oil & gas are leading the losses.
The BSE Sensex is trading higher by 13 points (up 0.1%) while the NSE Nifty is trading lower by 8 points (down 0.1%). The BSE Mid Cap index is trading higher by 0.1% and BSE Small Cap index is trading higher by 0.5%. Gold prices, per 10 grams, are trading at Rs 31,365 levels. Silver price, per kilogram is trading at Rs 47,284 levels. Crude oil is trading at Rs 3,007 per barrel. The rupee is trading at 66.37 to the US$.
IT stocks are trading on a mixed note with Hexaware Technologies & HCL Technologies leading the gains. The share price of Wipro increased by 1.24% on bourses in early trades today after it declared that it has won three years strategic IT contract from Norway-based rail company, NSB Group. NSB Group is involved in operations ranging from buses, passenger trains, freight, real estate development, and rolling stock maintenance in Norway and Sweden.
As a part of the deal, Wipro will implement its Boundary Less Datacenter (BLDC) and Live Workspace solutions. The company will utilize its next-generation delivery framework to deliver services. Essentially, the contract will cover data centers and workspace solutions, and will help NSB prepare for proposed reforms in Norwegian railway sector.
As per Wipro's management, partnership with NSB will have significant positive impact on Norwegian transportation sector. The company is looking forward to leveraging its transportation sector domain expertise, coupled with their deep infrastructure services capability and technology know-how.
India is an information technology powerhouse. In an extremely challenging global economy, western corporations are now expecting Indian IT firms to deliver a more compelling value proposition in terms of growth prospects. Going forward, whether the Indian IT firms are up to the task will be the key thing to watch out for.
In another development, it was reported that, TCS has partnered with Sastra university to establish a Teacher's Training Centre at the University. The objective of the program is to familiarize the school teachers with emerging digital-based teaching methods and reinforce the value of teaching as a profession. Over 2,000 school teachers from various educational institutions across tier-2 and tier-3 cities in Tamil Nadu will be trained.
With digital media increasingly becoming an integral part of the lives of Indians, government has also launched its Digital India programme to bring the digital revolution to the masses and empower them. Significantly, the government's move, if implemented well, is sure to bring in a refreshing change to the education system.
Moving on to the news from auto sector. As per an article in The Economic Times, Tata Motors have announced that it has received orders of over 5000 buses worth Rs 9 billion from 25 state transport undertakings (STU) across the country. Bulk of these contracts have come from states like Uttar Pradesh, Andhra Pradesh, Uttarakhand and Himachal Pradesh.
This resulted in a 80% jump in the company's order book compared to last year, representing a healthy growth outlook in commercial vehicle segment. This big buying is being witnessed after a massive gap of nearly four years in STUs.
Reportedly, Tata Motors has also developed Electric Hybrid buses to meet the future transport needs for Envisaged Smart Cities, both of which will soon be seen on Indian roads. To ensure trackability and traceability, Tata Motors will initiate technology such as GPS enabled on-board intelligent transport system, public information system, CCTV cameras and smart multi-mode ticketing.
Over 1500 ordered buses will be fully built and integrated with the features above at Tata Motors JV manufacturing facility at Tata Marcopolo and ACGL Goa, the company stated.
With large auto makers already investing in these emerging technologies, it is clear that Tata Motors needs to make the move quickly to avoid losing out the race particularly when technologically assisted driving can soon become a reality.
Tata Motors was trading down by 0.6% at the time of writing.
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