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Indian share markets remain in red
Fri, 12 Dec 01:30 pm

Indian share markets continued to trade in the red in the post-noon trading session. Most of the sectoral indices are trading in the red with realty and energy stocks being the biggest losers. FMCG and pharma stocks are among the few stocks trading positive today.

BSE-Sensex is down 64 points and NSE-Nifty is trading 15 points down. Both BSE Mid Cap and BSE Small Cap indices are trading down marginally. The rupee is trading at 62.41 to the US dollar.

Majority of the mining stocks are trading in the red with Sesa Sterlite and Hindustan Zinc being the biggest losers whereas NMDC and Coal India are among a few stocks trading in the green. As per a leading daily, Coal India Ltd (CIL) has received order to supply imported coal to the tune of around 5 lakh tonnes in FY15. The supply is likely to be completed in the third and fourth quarters of FY15. This has been stated by the Coal and Power Minister. The power utility companies have the option of receiving a part of the supply of annual contracted quantity from CIL through imported coal under the revised provisions of the Fuel Supply Agreements (FSA). As per the Minister, the coal demand from the power utility sector has been estimated at 551.5 MT (million tonnes) out of which 466.9 MT will be met by domestic production and the balance 84.7 MT through imports. CIL stock is trading up 0.4%.

Most of the fertilizer stocks are trading negative with Nagarjuna Fertilizers and Southern Petro being the biggest losers. As per a leading financial daily, Tata Chemicals would be investing Rs 1.5 bn over the next three years in setting up a nutraceuticals facility in Sriperumbudur, near Chennai. The production in the greenfield facility has already started with the official launch by month-end. The plant would initially manufacture Fructo-oligosaccharides, a probiotic product and the product profile will be expanded in future. The capacity of the plant would be scaled up from 1,000 tonnes to 5,000 tonnes over the next three years and at full capacity the plant is expected to generate revenues of Rs 3 bn in the same time period. Tata Chemicals would be exporting the nutraceutical products to European and other Asian countries. The company wants to increase the share of branded and non-commodity business from 22% to 50% over the next seven years. Tata Chemicals stock is presently trading down marginally.

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