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Indian markets trade firm
Wed, 31 Dec 11:30 am

After opening in the green, the Indian Indices have remained above the dotted line in the morning session. Pharma and engineering stocks are leading the gainers. Auto stocks are trading weak.

The BSE-Sensex is trading up 63 points. The NSE-Niftyis trading up 23 points. The BSE Mid Cap index is trading up 0.8% and the BSE Small Cap index is trading up 0.6%. The rupee is trading at 63.31 to the US dollar.

Most software stocks are trading higher today. Wipro and Tata Consultancy Services (TCS) are leading the gainers. As per a leading financial daily, India's third largest IT firm Wipro, has decided to outsource some of its core HR functions. Wipro's India and Middle East division will hand over its entire staff recruitment work to PeopleStrong, an HR solutions provider. The deal is valued at over Rs 1 bn for a period of 5-7 years. The trend of outsourcing HR responsibilities is catching on rapidly in the Indian IT sector as companies look to grow with better margins. Wipro is trading up 0.4% today.

Most telecom stocks are trading higher today. Tata Communications and Idea Cellular are leading the gainers. As per a leading financial daily, after the controversy over Bharti Airtel's aborted move to charge separately for calls made using third party apps; the government will float a discussion paper on the same. The Department of Telecom (DoT) will float the paper by the third week of Jan 2015 inviting suggestions regarding regulating the so called 'Over The Top' (OTT) players like Skype, Viber, Line, WhatsApp etc. The goal will be to define the concept of 'Net Neutrality' which means all data traffic over telecom networks should be treated the same. Currently, India does not have a law or regulation about the same.

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