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Indian markets open in green
Tue, 1 Dec 09:30 am

Barring China, major Asian stock markets have opened the day firm with stock markets in Indonesia (up 1.8%) and Hong Kong (up 1.6%) being the top gainers. Major stock indices in Europe ended their previous session in green. However, benchmark indices in US ended lower by 0.4%. The rupee is trading at 66.81 per US dollar.

Indian stock markets have opened the day on a positive note. BSE-Sensex is trading higher by 73 points (up 0.3%) and NSE-Nifty is trading higher by 30 points (up 0.4%). Both S&P BSE Midcap and S&P BSE Smallcap too have opened on an encouraging note, and are trading higher by 0.6% each. Major sectoral indices have opened the day in green. Stocks from metal and pharmaceutical sector are the top gainers in the pack.

As reported in a financial daily, the Indian economy has grown by 7.4% for September quarter as compared to 7% in the June quarter. The growth was led by a pick-up in the manufacturing and electricity space. These segments grew by 9.3% and 6.7% respectively as compared to the June quarter. The farm sector too grew at 2.2%.

Investments have also shown a sign of revival during this quarter. The investments have remained subdued since a while now. However the growth in the investment is a positive sign.

Further, huge chunk to the contribution to the Gross Domestic Product (GDP) came from private consumption. Private consumption increased by 6.8% and accounted for 55.1% of the rise in GDP from a year ago.

According to a financial daily, Bharti Airtel will invest Rs 600 bn over the next three years. The money will be utilized to increase its network capacity in order to enhance its ability to provide high speed data service and improve its quality of voice services. The capital expenditure will be partly allocated to address the call drop issue also. The company has named this programme as 'Project Leap'.

The entire project will be funded through internal accruals and clash flows. Reportedly, the investment is made keeping in mind the increase in competition from the entry of 'Reliance Jio'.

Rahul Shah, Managing editor of Microcap Millionaires, recently released a detailed analysis of the company's results (subscription required). In the note Rahul explains factors driving the performance of the company in this period and what to expect going forward. If you are interested in the stock, then this is a must read!

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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