Although Indian stock market indices have shed early gains over the last two hours of trade, they are still trading in the green. All sectoral indices, barring consumer durables and auto, are trading in the positive, with IT and realty stocks being among the major gainers.
The BSE-Sensex is up by 61 points and NSE-Nifty is up by 18 points. Both BSE Mid Cap and BSE Small Cap indices are up by 0.5%. The rupee is trading at 47.27 to the US dollar.
Indian Pharma stocks are trading mixed with Torrent Pharma and Elder Pharma trading strong while JB Chemicals and IPCA Labs are leading the pack of losers. As per a leading financial daily, Biocon plans to list its research services unit Syngene within the next 18 months or so. As per the management, the company is focusing on posting US$ 1 bn revenue in three to five years on the back of its strong clientele. It expects to unlock a lot of value from the research services unit. The Initial Public Offering (IPO) proceeds will be used to support the capex requirements of Syngene. No further details regarding the IPO were given. The stock was trading in the green.
Energy sector stocks are mixed with Cairn India and Gas Authority Of India Ltd. (GAIL) registering the highest gains. Oil and Natural Gas Corporation Ltd. (ONGC) and Indraprastha Gas were leading the pack of losers. As per a leading financial daily, ONGC faces a claim of Rs 10 bn from the villagers in Nagaland. In a public interest litigation (PIL) filed by Dice Foundation, a Kohima-based NGO at the Gauhati High Court against the company, the contention is that the corporation's decision to stop extraction of oil about 16 years back under threat from rebels, has turned out to be costly for villagers of Champang and Tisso in Wokha district of Nagaland. It is said that the oil spilling from capped rigs for years has adversely impacted the quality of land in these villages causing damage to the agrarian economy. The petitioner has also asked for payment for the loss of oil from the oil spill and a directive to the ONGC and the state government of Nagaland to clean up the waste.
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BSE Sensex is trading up by 214 points, while the NSE Nifty is trading up by 76 points.
Indian share markets open higher. The BSE Sensex opened up by 363 points, while the Nifty is trading higher by 112 points.
ONGC share price has hit a 52-week high. It is presently trading at Rs 121. BSE 500 Index is up by 0.7% at 20,123. Within the BSE 500, ONGC (up 5.2%) and BEML (up 13.1%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.
GRINDWELL NORTON share price has hit a 52-week high. It is presently trading at Rs 975. BSE 500 Index is up by 0.8% at 20,123. Within the BSE 500, GRINDWELL NORTON (up 5.5%) and BEML (up 11.8%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.
ASTRAL POLY TECHNICK share price has hit an all time high at Rs 2,332 (up 3.6%). The BSE CAPITAL GOODS Index is up by 1.4%. Among the top gainers in the BSE CAPITAL GOODS Index today are ASTRAL POLY TECHNICK (up 3.6%) and HONEYWELL AUTOMATION (up 2.5%). The top losers include KALPATARU POWER (down 0.8%).
BEML share price is trading up by 12% and its current market price is Rs 1,311. The BSE CAPITAL GOODS is up by 1.4%. The top gainers in the BSE CAPITAL GOODS Index is BEML (up 11.7%). The top losers is KALPATARU POWER (down 0.8%).
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