Indian stock market indices have been trading firm over the last two hours of trade on back of buying interest in index heavyweights. All sectoral indices are trading in the positive led by Metal and Auto stocks.
The BSE-Sensex is trading up by 459 points and NSE-Nifty is trading up by 148 points. BSE Mid Cap and BSE Small Cap indices are trading higher by 1.2% and 1% respectively. The rupee is trading at 48.82 to the US dollar.
Automobile stocks are trading firm led by Tata Motors and Hero Motocorp. According to a leading financial daily, Maruti Suzuki is gearing up to set a new plant either in Gujarat or Maharashtra. The auto company is planning a 1,000 acre plant with a capacity of rolling out 2 m cars annually. The total investment outlay for the same is expected to be Rs 180 bn, including Rs 60 bn for auto ancillary unit. It will be a phased investment. Initially, Rs 60 bn will be invested to produce 0.1 m cars. Final decision is expected from the management by the end of this month.
FMCG stocks are trading strong. All stocks in the sectoral index are trading in the green. Paper Products and Camlin are the biggest gainers. According to a leading financial daily, Colgate is planning an investment of Rs 2 bn in Gujarat. This will be towards setting up a new plant in the state. The FMCG company is considering a industrial estate in Sanand (near Ahmedabad) as the location of the plant. This industrial estate is being developed by state-run Gujarat Industrial Development Corporation (GIDC). It may be noted that Colgate has existing manufacturing facilities at Aurangabad, Baddi (Himachal Pradesh), Hyderabad and Kundaim (Goa).
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ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).
ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).
JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).
UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).
ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).
The BSE Sensex is trading down by 1,464 points, while the NSE Nifty is trading down by 423 points.
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