After opening in the green, the Indian Indices have given up the early gains and are trading below the dotted line. Pharma and FMCG stocks are leading the gainers while realty and energy stocks are trading in the red. Mid and small cap stocks are witnessing buying interest.
Power stocks are trading mixed today. NHPC and CESC are leading the gainers. As per a leading business daily, power generation major Tata Power yesterday signed agreements with Russia for greater cooperation in the power sector. These agreements were signed during Russian President Vladimir Putin's visit to India. Tata Power signed an memorandum of understanding with Russian Direct Investment Group. That two will seek to cooperate in identifying and targeting investment opportunities in the energy sector across Russia with a goal to develop mutually beneficial transactions.
Telecom stocks are trading mixed today. While Tata Communications is leading the gainers; Reliance Communications is leading the losers. The Indian government appears to have made headway regarding the issue of spectrum held by the defense forces to be used for the upcoming telecom auctions. The defense ministry has agreed 'in principle' to release 5 MHz of spectrum across 17 circles in the premium 3G band of 2,100 MHz. The government is keen to auction 2G and 3G airwaves simultaneously in Feb 2015. The extra spectrum provided by the defense ministry will help to ease the supply crunch in the auctions and will lead to rational bidding.