The BSE-Sensex is trading down 44 points. The NSE-Nifty is trading down 16 points. Both mid cap and small cap stocks are in favour today. The BSE Mid Cap index is trading up 0.2% and the BSE Small Cap index is trading up by 0.1%%. The rupee is trading at 61.52 to the US dollar.
Indian pharma stocks are trading mixed today. While Ranbaxy Laboratories and Dishman pharmaceuticals are the leading gainers; Glenmark Pharma and Piramal Enterprise are among the leading losers. Sun pharmaceuticals subsidiary, Taro pharma has declared September quarter results. The company reported 22.2% increase in net sales. However, company witnessed some decrease in sales volumes. The gross margins for the quarter stood at 79% vs 77.7% in 2QFY14. The company's other operating expenses to declined during the quarter. On the bottom line, the net profits were up by 48% YoY. Sun pharma is trading up by 4% at the time of writing.
Most of the Mining stocks are trading weak with MMTC and Hindustan Zinc being the leading losers. As per the financial daily, Coal India board has ratified the first 1600 MW pithead thermal power project by its subsidiary Mahanadi coalfields at a capital expenditure of Rs 110 bn. Through this the company will foray into electricity generation by the world's biggest coal producer. Reportedly, yesterday the management, without any independent directors on the board five other mining projects were cleared which would generate 30 m tones of coal. The Government is yet to appoint any of the seven independent directors out of total board strength of 14. The independent director berths have been vacant since September 11, 2014.