The BSE-Sensex is trading up 34 points. The NSE-Nifty is trading up 13 points. The BSE Mid Cap index is trading up 0.3% and the BSE Small Cap index is trading up 0.1%. The rupee is trading at 62.12 to the US dollar.
Most software stocks are trading higher today. Wipro and Tata Consultancy Services (TCS) are leading the gainers. As per a leading financial daily, India's fifth largest IT firm Tech Mahindra, has launched a data analysis platform for auto insurance firms. The software will allow these firms to adjust premiums according to the actual usage patterns of individual drivers. This is a big improvement to the existing system of using industry averages to calculate premiums. Tech Mahindra claims that this solution will help insurers reduce claim costs by up to 20% and premiums by up to 40%. Tech Mahindra has begun marketing the product across geographies with AT&T providing global connectivity for the software. Tech Mahindra was trading up 0.3% at the time of writing.
As per a leading business daily, recently out macro economic data shows that the pace of activity at factories in the country expanded at the fastest pace in almost 2 years during the month of November on the back of rising order books. The rising orders are leading manufacturers to increase output. The Purchasing Managers' Index (PMI) compiled by HSBC rose to 53.3 in November from 51.6 in October. This is its highest level since February 2013. The related survey also revealed that companies have been able to pass on additional input costs to consumers at a faster clip during the month gone by, which bodes well for the earnings of corporate India going forward.