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After opening the day on a flattish note, the Indian Indices have recovered and are presently trading on a positive note. Sectoral indices are trading on a mixed note with stocks from the oil & gas and capital goods sectors leading the gains.
The BSE-Sensex is trading up 185 points (up 0.7%) and the NSE-Nifty is trading up 62 points (up 0.8%). The BSE Mid Cap index is trading up 1% while the BSE Small Cap is trading up by 0.9%. Gold prices, per 10 grams, are trading at Rs 25,405 levels. Silver price, per kilogram is trading at Rs 33,875 levels. The rupee is trading at 66.17 to the US$.
Automobile stocks are trading positively with Bajaj Auto and Mahindra & Mahindra leading the gainers. As per a leading financial daily, Tata Motors - owned Jaguar Land Rover (JLR) has launched a variant of its locally-assembled luxury SUV 'Range Rover Evoque'. The same is priced between Rs 47.1 lakh and 63.2 lakh.
The company expects the Evoque range to grow above the industry average this year. The company has already received 125 pre-launch bookings for the new Evoque. It has estimated to close the year with sales of over 3,000 units and a market share of 9-10%. Presently JLR gets most of its sales from its locally-assembled models like Discovery Sport, and Evoque from the Land Rover/Land Rover stable and the XJ and XF from the Jaguar platform.
Furthermore, on a separate note, JLR is aiming to increase its India presence with more locally-built models. The company is aiming at doubling its India market share to over 20% in three years.
Tata Motors Ltd is India's largest automobile company. The company is the leader in commercial vehicles in each segment, and among the top three players in passenger vehicle with products in the compact, midsize car and utility vehicle segments. Currently its stock is trading up by 0.2%.
Most of the telecom stocks are trading on a positive note with Tata Communications and AGC Networks leading the gains. As per an article in Economic Times, the telecom commission has decided to change the way for calculation of total bandwidth in a circle. With this move, it aims to effectively allow telcos to hold more airwaves and pave the way for consolidation needed in an industry hit by massive competition.
The commission has decided that all airwaves available with the telecom department (DoT) and subsequently put to auction should be counted towards calculating the total amount of airwaves for the purpose of arriving at spectrum caps. However, any bandwidth that has been assigned for non-commercial use should not be included in the calculations. Moreover, the government must also add the airwaves which were surrendered or returned by telecom operators.
At present, operators can share and trade spectrum so long as the resultant pool of airwaves is not beyond 25% of the total airwaves allocated in the service area and not more than 50% of the airwaves allocated in that particular frequency in the service area.
The decision is said to boost the sentiments of telecom industry that has been struggling with intense competition over the years. If you are interested to know the past trends of the industry, here is our analysis report for the same.
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