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Consumer durable stocks lead the downfall
Tue, 27 Oct Closing

Index heavyweights solicited very little investor interest today owing to weak economic cues from global markets. The indices in Indian equity markets remained below the dotted line throughout the session today on the back of selling interest in consumer durables and capital goods sectors. While the BSE-Sensex closed lower by 109 points, the NSE-Nifty closed lower by 28 points. Meanwhile, the S&P BSE Midcap and the S&P BSE Smallcap managed to finish marginally higher.

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.14% and the Hang Seng rose 0.11%. The Nikkei 225 lost 0.90%. European markets are lower today with shares in France off the most. The CAC 40 is down 0.45%, while London's FTSE 100 is off 0.40% and Germany's DAX is lower by 0.11%. The rupee was trading at 64.96 against the US$ in the afternoon session.

Telecom stocks closed on a mixed note with Reliance Communication and Tata Teleservices bearing majority of the brunt. Bharti Airtel is reportedly planning to invest an additional US$ 200-400 million in the current fiscal to ramp up 3G and 4G infrastructure. The company has estimated its capex for India and South Asia to be at US$ 2.3 billion. Majority of that investment has taken place in India.

Recently, the company reported 10.1% rise in its consolidated net profit at Rs 15.22 bn for the quarter ended September 30, 2015 as compared to Rs 13.83 bn for the same quarter in the previous year. Total income of the company increased by 4.33% YoY at Rs 238.51 bn for quarter under review as compared to Rs 228.61 bn for the quarter ended September 30, 2014.

In one of our recent editions of 'Equitymaster Research Digest', the Managing Editor of Microcap Millionaires, Rahul Shah, discusses the general measure of telecom sector's capital efficiency. The article touches upon how the company has been performing with all the capital that has been put into the business by equity as well as debt holders. This is by taking the company's return on capital (ROCE) parameter into account.

According to a leading financial daily, NIIT Technologies has entered into a long-term strategic agreement with Dubai-based airline flydubai. The agreement will enable flydubai to build airline-specific IT systems catering to all aspects of its business.

NIIT Technologies reportedly plans to deliver these services through its state-of-the-art Global Delivery Center at its campus in Greater Noida. This will include a dedicated 'Testing Center of Excellence' for flydubai. In addition, NIIT Technologies will provide support on software development projects with data center services through its Infrastructure Management Services.

The script of NIIT Technologies surged significantly to end the day up by 5.5% on the BSE.

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S&P BSE IT


Apr 26, 2017 03:21 PM

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