After opening firm, the benchmark Indian Indices have been witnessing volatility in the last two hours of trade. Amongst sectoral indices consumer durables and FMCG are witnessing buying interest. However, Metal and Power stocks are facing maximum selling pressure.
The BSE-Sensex is trading up 16 points. The NSE-Nifty is trading up 1 point. Both mid cap and small cap indices are in demand. The BSE Mid Cap index is trading up 0.14% and the BSE Small Cap index is trading up 0.41%. The rupee is trading at 60.94 to the US dollar.
Tata Group stocks are trading mixed with Titan Company and Tata Investment Corporation leading the gains. However, The Indian Hotels and Tata Communication are trading in the red. As per a leading financial daily, the Tata Group has set up a centralised platform that will facilitate collaboration and help tap synergies across its 100-plus group companies. Tata Sons, the apex investment holding company of the Tata Group, has put in place "clusters" and "enablers" to leverage on the resources, strength and expertise of group companies to enhance the overall performance of the group. While "clusters" focus on businesses with strong future growth prospects like retail, finance, infrastructure and defence & aerospace, "enablers" focus on specific domains like diversity, customer insight, internationalization and rural markets. This initiative will help the companies in boosting their growth prospects as well as on the cost saving front.
Indian pharma stocks are trading mixed with Ranbaxy Laboratories and Sun Pharma being among the leading losers, while Wockhardt Ltd and Cipla being among the leading losers. Cipla Ltd has announced that the company has entered into a commercial collaboration with S&D Pharma in Czech Republic and Slovakia. The collaboration will help Cipla to focus on core therapy areas, while S&D Pharma will be key partner for generics. Through this collaboration, Cipla will be launching its respiratory portfolio in both these markets, while S&D will help in distribution of these drugs. This will give Cipla an opportunity to develop its own brand in these markets. Cipla is also planning to launch combination inhalers in these markets once the necessary approvals and reimbursements are in place. Cipla is trading up by 1.88%.