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India equity markets trade strong
Wed, 5 Dec 11:30 am

Indian equity markets continued to trade strong over the last two hours of trade. Metal and Realty stocks witnessed maximum buying interest while IT and Power stocks witnessed maximum selling pressure.

The Asian stock markets is up by 69 points, while the NSE-Nifty is up by 16 points. BSE Mid Cap index and the BSE Small Cap index are up by 0.71% and 0.77% respectively. The rupee is trading at 54.55 to the US dollar.

FMCG stocks are trading in the green led by Bata India and Emami Limited. According to a leading financial daily, Dabur India is bullish on its air freshener brand Odonil and expects the brand to grow at 35% this year. The home and air freshening market is relatively new in India, with the penetration level being as low as 4%. Odonil as a brand has been growing more than 30% year on year. Odonil, which was earlier available in block and room freshener spray formats, has pilot-launched this gel in the Andhra Pradesh market.

Steel stocks are trading strong led by Tayo Rolls and Tata Steel. As per a leading daily, Tata Steel has entered into a technology collaboration with SMS Mevac, a technology company. This is to design a new production facility for high-purity vacuum induction melted (VIM) steel in Stocksbridge, South Yorkshire. This steel will be used for the aerospace industry typically in aircraft engine transmissions and bearings. It is also used to manufacture aircraft structural and undercarriage components. The process of making VIM steel is quite a complex one and involves a number of steps including melting steel and alloys, extracting trace elements and casting the prefixed liquid steel into moulds.

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Mar 16, 2018 (Close)