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Indian share markets remain buoyant
Thu, 4 Oct 01:30 pm

After shedding some gains from the day's highs, Indian share markets recovered to inch upwards in the post-noon trading session. Barring pharma and IT, all the sectoral indices are trading positive with realty, banking and power stocks driving the rally.

BSE-Sensex is up 203 points and NSE-Nifty is trading up 64 points. BSE Mid Cap index is up 1.1% and BSE Small Cap index is up 0.9%. The rupee is trading at 51.8 to the US dollar.

Majority of the FMCG stocks are trading in the green with Henkel India and Dabur leading the pack of gainers. As per a leading financial daily, Procter & Gamble (P&G) in its 2012 annual report, has renewed its business strategy. According to the new business plan, the company intends to concentrate on 40 largest and most profitable categories across geographies, the 20 largest and most promising innovations and the 10 most developing markets. While India is among the top 10 developing markets for P&G, none of its India-centric categories feature in the top 40 on a global basis. On a comparative basis, emerging markets account for 40% of overall revenues for P&G as compared to 54% and 50% sales shares for HUL and Colgate, respectively. If India falls back in P&G's priority list, it is expected to benefit rival companies like Hindustan Unilever (HUL) and Colgate.

P&G had been making huge spends on advertisements and promotions in India to beat competition from arch-rival HUL. Reportedly its largest and unlisted subsidiary, Procter & Gamble Home Products recorded a loss of Rs 3.3 bn in FY11 as more than a third of revenues were spent on marketing. Also, P&G dominates in smaller categories like blades & razors and diapers whereas in big categories like detergents and hair care, it still lags behind HUL.

Most of the energy stocks are trading positive led by Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Ltd.(BPCL) and Indian Oil Corporation (IOC). As per a leading business daily, Reliance Industries (RIL) has signed a 15-year crude oil supply contract with Venezuelan state oil monopoly, Petroleos de Venezuela (PdVSA). As per the contract, PdVSA will supply 3-4 lakh barrels per day of heavy crude oil to two of RIL's refineries in Jamnagar. RIL's twin refineries in Jamnagar have a total refining capacity of 1.24 million barrels per day with half the capacity capable of processing extra heavy crude oil. RIL stock is up 0.9%.

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