The Indian equity markets continued to remain volatile and traded mostly in the red during the second half of the trading session. Majority of the sectoral indices are trading weak barring the Healthcare and Auto sector.
The BSE-Sensex is trading down by 54 points, while the NSE-Nifty is down by around 15 points. Mid cap and small cap stocks are trading in the red, with the BSE Mid cap and BSE Small cap indices down by 0.5% and 0.7% respectively. The rupee is trading at Rs 62.34 to the US dollar.
According to a leading financial daily, the Coal Ministry on Tuesday allotted 38 mines to Central and State public sector units including NTPC and SAIL. The allotment to Centre and State entities comes after the Government recently ended two rounds of auctioning of coal blocks for private companies. Most of the mines allotted are for the power sector, except one Sitanala mine given to SAIL. A majority of the mines have gone to the earlier allocates. The Government has already earned over Rs 2 trillion by auctioning just 33 blocks.
Auto stocks primarily traded in the green with Mahindra Scooters leading the gains. According to a leading business daily, Tata Motors has set the issue prices of two different types of shares at Rs 450 and Rs 271 per scrip for its proposed Rs 75 bn rights issue. This will be Tata Motors' biggest ever rights offering and the country's third-biggest after State Bank of India and Tata Steel. The shares will be issued at a price of Rs 450 per Ordinary Share. Rights share issue priced at Rs 450/share and Rs 271 per DVR share. The company intends to utilise Rs 75 bn to fund various activities, including introduction of more than 100 new products/variants over next three years and products on new modular platform from FY 2016-17.