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Energy stocks elicit interest
Tue, 19 Nov 11:30 am

After opening positively, the Indian Indices are trading flat in the morning session. All sectoral indices except FMCG are trading in the green. The buying interest is the highest in capital goods and Energy stocks.

The BSE-Sensex is up 55 points and the NSE-Nifty is trading up 15 points. The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap is trading up 0.2%. The Rupee is trading at 62.21 to the US Dollar.

Most Telecom stocks are trading positive today. Tata Communications and Bharti Airtel are among the stocks leading the gainers. According to a leading financial daily, India's Telecom regulator, TRAI has rejected the recommendations of the Telecom Commission regarding the auction of the 800 MHz spectrum. The telecom commission, which is the country's primary policy making authority in the Telecom sector, had recommended that TRAI take back its decision to not auction the 800 MHz spectrum. Spectrum in this bandwidth is currently used by CDMA players, Tata Teleservices, Reliance Communication and Sistema Shyam Teleservices. TRAI had recommended that this spectrum, instead of being auctioned, should be reserved for GSM companies, so that they would be able to roll out their extended GSM (eGSM) services. This decision was heavily criticized by the CDMA firms. The final call on this contentious issue will now be taken by the Department of Telecom (DoT).

Indian Pharma stocks are trading mixed today. Indoco Remedies and Panacea Biotech are leading the gainers, while Dishman Pharma and Natco Pharma are leading the losers. According to a filing on the BSE; Ipca Laboratories has entered into an agreement with Avik Pharmaceutical Ltd to acquire 50% stake in the company. IPCA will acquire 50% of its paid-up equity share capital. This will be carried out partly through purchase of equity shares from existing shareholders and the rest through subscription to its fresh equity share capital on a preferential allotment basis. The total acquired capital would be about Rs 65 m. Avik Pharmaceutical is a private company and engaged in the development, manufacturing and marketing of Active Pharmaceutical Ingredients (APIs). IPCA is trading flat today.

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