The BSE-Sensex is trading up by 47 points while NSE-Nifty is trading 13 points above yesterday's closing. The BSE Midcap index is trading flat while the BSE Small cap index is marginally up by 0.1%. The rupee is trading at 45.29 to the US dollar.
Consumer product stocks have been trading mixed with Emami Ltd, P&G Hygiene, Archies Ltd and Pidilite Industries leading the pack of gainers. However, Marico Ltd and Godrej Consumer Products are trading weak. As per a leading financial daily, Dabur India has formed a new entity, Dabur Lanka Pvt. Ltd., as a part of a strategy to strengthen its presence in Sri Lanka. The new entity has been incorporated under its wholly-owned subsidiary, Dabur International, which manages the company's overseas operations. Hence, it will be company's step-down subsidiary company. The company is in the process of setting up a manufacturing facility for Sri Lanka. The same is expected to start production by the end of this fiscal. Sri Lanka has been identified as one of the company's focus markets in the coming years. It is important to note that around 22% of company's sales come from international markets which include African nations, Nepal and Bangladesh. However, the stock of the company is trading in the red.
Power stocks have been trading mixed as well with Reliance Infrastructure, National Thermal Power Corporation (NTPC) and CESC Ltd leading the pack of gainers. However, Tata Power and Jaiprakash Power are trading weak. Tata Power has reported results for the first quarter of the current financial year 2011-12 (1QFY12). The company reported a 5% year on year (YoY) rise in the bottomline during the quarter. On a standalone basis, the revenues also registered an increase of 2.8% YoY. The other income for the current quarter included a dividend of Rs 2 bn received from the overseas Coal Special Purpose Vehicles (SPVs). The strong performance for the quarter was driven by all its business divisions. As per the management, the company's operations continue to be stable and its new projects are progressing well. Its two large projects at Maithon and Mundra are progressing towards commercialization.