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Indian Markets Open Weak
Thu, 3 Dec 09:30 am

Barring China, major Asian stock markets have opened the day in red, with stock markets in Singapore (down 0.6%) and Korea (down 1%) being the top losers. Major stock indices in Europe and US ended their previous session in red. The rupee is trading at 66.61 per US dollar.

Indian stock markets have opened the day on a negative note. BSE-Sensex is trading lower by 65 points (down 0.3%) and NSE-Nifty is trading lower by 30 points (down 0.4%). Both S&P BSE Midcap and S&P BSE Smallcap are trading marginally lower by 0.02% and 0.01% respectively. Major sectoral indices have opened the day on a disappointing note. Stocks from metal and oil and gas sectors are facing the maximum brunt.

Wipro Ltd has announced about acquisition of a Germany based technology company. The acquired company implements and maintains SAP (systems application and products). The deal is pegged at US$ 78 million. The acquisition is intended to scale its business in Germany, Austria and Switzerland. Cellent has a list of reputed customers including lens maker 'Carl Zeiss' and auto-maker 'Daimler'. Cellent posted revenue of US$ 92 million during the last year.

Recently, many acquisitions have taken place in the SAP space. A while back Wipro had acquired 'Designit' in the same region to strengthen its presence in the digital space.

Further, deal will help to bring cultural synergies and location proximities which are key to building successful customer relationships.

Rahul Shah, Managing editor of Microcap Millionaires, recently released a detailed analysis of the company's results (subscription required) for the quarter ending September 2015. In the note Rahul explains factors driving the performance of the company in this period and what to expect going forward. Read on to know more about it.

As per an article in Livemint, the utilization levels of gas based plants have improved from 18% in January to 25% in September. The improvement has come on the back of the subsidies that are provided by the Union Government in relation to the gas based power plants.

Around, ten stranded gas based power plants were selected to receive government support in May 2015. Owing to these benefits, several companies restarted their gas based power plant during the current year. Private companies seem to be the biggest beneficiary whose utilization levels have improved to 19% as compared to 9% earlier.

However the support from the government will not be for long and is a short-term arrangement. Incentives are given for limited periods and companies have to rebid to receive fresh aid. The prices of the Regasified Liquiefied Natural Gas (R-LNG) will be the key things to watch out for in relation to the gas based power plants. Provided the prices of t R-LNG reduces, significant portion of the problems in relations to the gas based power plants will be solved.

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