After witnessing a strong start today, the Indian stock markets remained somewhat choppy during previous two hours of trade. However they managed to trade above the dotted line on account of buying activity in the index heavyweights lead by consumer durables, power and metal sectors.However select stocks from IT , healthcare and telecom sector are failing to garner investors' interest.
BSE sensex and NSE Nifty traded in the green, up by 58 point and 24 points respectively. The BSE-Midcap and BSE-Smallcap are trading up by 0.9% and 1.3% respectively. The rupee is trading at 46.68 to the dollar.
As per a leading business daily, Indian IT majors like TCS, Infosys, Wipro and HCL are vying for multinational giants like HP-EDS and IBM for a share in US$ 30 bn worth of infrastructure management contracts.
According to Forrester's research, atleast US$ 430 bn of infrastructure management contracts are due for renewal in 2010 bringing in a huge opportunity for the new service providers in this category as atleast one-fourth of these are expected to go to new suppliers. It is estimated that 15 top vendors like HP, IBM, CSC together with some Indian players delivered infrastructure projects worth US$ 84 bn in 2009. However, the incumbent players like IBM and HP which are huge in size and experience are formidable opponents. Nevertheless, Indian IT vendors with their renewed capabilities and forward looking strategies for such services are quickly gaining a share of the pie. It is evident from the large multi-year, multi-million dollars deal won by our IT players. HCL signed deals with Readers Digest, Xerox and Nokia while Wipro acquired Citi Technology services also winning a 6 year US$ 1 bn infrastructure deal. We believe that the Indian companies can make substantial inroads into this business segment through innovating newer models like 'pay-per-use' or pay-per-device'.
According to a leading business daily, India's fifth largest drug maker (byrevenue) Lupin is sighting some acquisitions in India in order to gain market share. It is particularly eyeing acquisitions in the therapeutic areas such as central nervous system, nephrology and urology. Lupin does not have any significant presence in these segments which have little competition due to a small number of players therein. It may be noted that Lupin which is one of the fastest growing company in Indian pharma market aims to increase its revenue to RS 30.4 bn by 2013 from Rs 11.4 bn in FY09. It has hinted that it is keen on following an organic as well as inorganic path in meeting its goal as in it is difficult to gain market share and penetration in the competitive market only through organic growth.
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MRPL share price has hit a 52-week high. It is presently trading at Rs 45. BSE 500 Index is up by 1.7% at 19,713. Within the BSE 500, MRPL (up 8.3%) and RCF (up 20.0%) are among the top gainers, while top losers are HIMADRI SPECIALITY CHEMICAL and BHARTI AIRTEL.
KEC INTERNATIONAL share price is trading up by 5% and its current market price is Rs 454. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 5.2%) and BHARAT ELECTRONICS (up 6.5%). The top losers are SCHAEFFLER INDIA (down 0.2%) and HINDUSTAN AERO. (down 0.3%).
GUJARAT ALKALIES share price is trading up by 10% and its current market price is Rs 346. The BSE 500 is up by 1.6%. The top gainers in the BSE 500 Index are GUJARAT ALKALIES (up 10.2%) and DEEPAK NITRITE (up 14.5%). The top losers are COLGATE and HDFC AMC .
DEEPAK NITRITE share price is trading up by 13% and its current market price is Rs 1,553. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are DEEPAK NITRITE (up 12.8%) and JUST DIAL (up 14.2%). The top losers are BAJAJ HOLDINGS & INVESTMENT and CADILA HEALTHCARE .
HIMADRI SPECIALITY CHEMICAL share price is trading down by 11% and its current market price is Rs 55. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are RCF (up 20.0%) and MMTC (up 20.0%). The top losers is HIMADRI SPECIALITY CHEMICAL (down 11.3%).
BSE Sensex is trading up by 378 points, while the NSE Nifty is trading up by 165 points.
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