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Telecom Stocks Lead the Gains
Wed, 30 Dec 01:30 pm

After opening flat, the Indian indices traded on a choppy note and continued to trade near the dotted line in the post-noon trading session. Sectoral indices are trading mixed with stocks from the telecom, metal and power sectors leading the gains.

The BSE Sensex is trading up by 14 points (0.1%) and the NSE Nifty is trading up by 6 points (0.1%). The BSE Mid Cap index is trading up by 0.5% while the BSE Small Cap is trading up by 0.4%. Gold prices, per 10 grams, are trading at Rs 25,182 levels. Silver price, per kilogram, is trading at Rs 33,606 levels. Crude oil is trading at Rs 2,485 per barrel. The rupee is trading at 66.43 to the US$.

Automobile stocks are trading on a mixed note with Escorts and Tata Motors leading the gains. As per a leading financial daily, Maruti Suzuki is reportedly planning to export its new Baleno hatchback to the European Union markets in a bid to revive its export market share in the region.

As stated, the European Union is a part of Suzuki's export plan. The company will start exporting the premium hatchback to Europe in January 2016. With this first shipment, the company is targeting several markets such Italy, France, Germany, Netherlands, Belgium, Denmark and Spain, among others.

To note, apart from the Baleno, the company also exports the Ertiga, Celerio, Ciaz and the Swift Dzire to various markets.

As regards its November sales, the company registered a rise of 9.7% in its total car sales (domestic and export) at 1,20,824 units. The company's domestic sales rose by 10.6% in November 2015 at 110,599 units. Presently the stock of Maruti Suzuki is trading down by 0.4%.

Stocks in the mining space are trading on a mixed note with Hindustan Zinc and Coal India witnessing maximum buying interest. As per an article in Economic Times, the fourth round of coal auction has received a poor response from steel and cement firms. Due to this the government is contemplating to either defer the bidding or extend the deadline for submission of bids. Reportedly, the coal ministry is likely to take a decision for the same this week.

The last date for purchasing the bid documents was December 28 while the deadline for submitting the bids is December 31. Further, the technical bids for the coal blocks are scheduled to be opened on January 4 and the electronic auction is scheduled during January 18-22.

During the year, the government auctioned 31 coal mines in three tranches. Further, 42 blocks were allotted to various public sector undertakings. It is to be noted that the last three rounds of auction generated proceeds of more than Rs 3 lakh crore, which would be realised by states over a time-frame of 30 years.

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Jul 21, 2017 (Close)

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