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IT & metal stocks lead the gainers
Mon, 24 Nov 11:30 am

After opening in the green, the Indian Indices have remained above the dotted line during the morning session. IT and metal stocks leading the gainers while FMCG and energy stocks are trading weak.

The BSE-Sensex is trading up 115 points. The NSE-Nifty is trading up 32 points. The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up 0.3%. The rupee is trading at 61.73 to the US dollar.

Most software stocks are trading higher today. Infosys and HCL Technologies are leading the gainers. India's leading software firm Infosys, has in a filing to the BSE, announced the record date for its dividend as well as its 1:1 bonus issue. The record date for both has been fixed on 3rd Dec 2014. The announcement of the bonus issue was made during the 2QFY15 results on 10th Oct 2014. The management believes that the bonus issue will expand the retail shareholder base and enhance liquidity of the stock. The stock will turn ex-bonus on 2nd Dec 2014. The per-share dividend will be Rs 30. Infosys is currently trading up 2.4% today after hitting an all time high in morning trade.

Telecom stocks are trading mixed today. While Mahanagar Telephone Nigam Ltd. (MTNL) is leading the gainers; Idea Cellular is leading the losers. As per a leading financial daily, the government is planning a mega push for its Digital India campaign. The government is planning to merge two key broadband ventures into a single Rs bn 600 project to speed up the program. The Digital India campaign envisages high-speed internet access for every household. The government is also considering handing over the project to a PSU firm, Bharat Broadband Networks Ltd for the roll out. The government had indicated earlier that it would consider a PSU firm for implementing the marquee project.

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