Markets slipped into negative territory during the previous two hours of trade. Currently, stocks from the consumer durables, energy and banking sectors are leading the pack of gainers, while stocks from the capital goods, auto and power sectors are trading weak.
The BSE Sensex and NSE Nifty are trading lower, down by 40 points and 15 points respectively. The BSE-Midcap index is trading higher by 0.3% while BSE-Smallcap is trading higher by 0.6%. The rupee is trading at 46.85 to the dollar.
As per reports, cement prices are firming up in many parts of the country. However, the increase seems to be more due to logistical constraints resulting from a shortage of railway wagons. Prices have especially firmed up in the western and southern regions of the country since the start of December and could move up by another Rs 5 per bag in some regions. Further, cement prices in the southern market of Andhra Pradesh have registered a slight increase of Rs 10 to Rs 15 per bag. Prices in the southern markets are currently ruling in the range of Rs 135 to Rs 180 a bag. In the western regions, including Mumbai and Gujarat, cement prices have seen an increase of Rs 8 to Rs 10 a bag since December beginning. Apart from the shortage of railway wagons, reports suggest that there has also been some increase in demand for cement due to construction work for the 2010 Commonwealth Games. Fuel costs have also risen. These factors together have prompted cement companies to raise prices. Cement stocks are currently trading mixed with Dalmia Cements and India Cements leading the list of gainers.
As per a leading business daily, real estate major DLF has decided to bring all of its rental properties under one single entity. This is part of the company’s business restructuring efforts with a view to optimise the value of its various realty verticals. The company’s realty business going forward will be divided into two sections, namely annuity (rentals) and development company. As part of this exercise, DLF Cyber City Developers Ltd, a subsidiary of DLF, is likely to become the group's flagship company for holding its rental assets, offices, malls, facilities management and utilities. As for its other business segment, the real estate development vertical will be divided into three divisions focusing on the Gurgaon market, super metros and the rest of India. This move will go a long way in helping the company more efficiently manage its operations. It will also bring more clarity to the company’s investors about the widespread operations of the company. The stock of DLF is trading lower on the bourses currently.