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Indian equity markets continue to trade in green
Wed, 9 Oct 01:30 pm

Indian equity markets have expanded gains during the post noon trading session. Barring stocks from consumer durables sector, all the sectoral indices are trading in green. Realty and healthcare stocks are witnessing maximum buying interest.

BSE-Sensex is up by 143 points and NSE-Nifty is trading up by 40 points. While BSE Mid Cap is trading up by 0.66%, BSE Small Cap index is trading up by 0.49%.The rupee is trading at 61.82 to the US dollar.

Most of the MNC pharma stocks are trading in green with Sanofi India and Abbott India leading the pack of gainers. As per a financial daily, Glaxosmithkline Pharmaceuticals (GSK) Ltd has been impacted due to implementation of the pricing policy. Sales of the company might get hit on the bulk orders as the company has reduced its profit margins for the bulk buyers. Reportedly, major territories of India have stopped buying the company's drugs. Further it is also reported that, the retailers are using various tactics by not purchasing drugs from companies who have reduced their margins. The new pricing policy targets to curb prices of costly brands sold by drug makers in order to makes medicines more affordable. GSK was trading up by 0.13% at the time of writing.

Majority of the FMCG stocks are trading in the green with Marico and Kokuyo Camilin being among the major gainers. Colgate and Emami are among the few stocks trading in the red. As per a leading financial daily, Godrej Consumer Products Ltd (GCPL) forayed into the hair salon segment by acquiring 30% stake in premium hair salon chain B:Blunt. B:Blunt was started in 2005 and has 17 outlets spread across Mumbai, New Delhi, Hyderabad, Pune, Indore, Bangalore and Dubai. The company's hair care business encompasses hair colour, hair dye, mehendi and hair oil products. As part of its inorganic growth strategy, GCPL has acquired three hair care brands in South Africa. The company acquired the Rapidol brand in 2006 and the Kinky group in 2008. In 2011, the company acquired 51% stake in Darling Group Holdings, an African hair care company. In June 2014 quarter, GCPL reported a 24% growth in sales backed by double-digit growth in both domestic and international operations. GCPL stock is currently trading up by 1%.

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