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After opening the day on a flat note, Indian equity markets have continued to trade in a similar fashion. Major sectoral indices are trading on a mixed note. Stocks in FMCG and energy sectors are witnessing maximum buying interest. However stocks from banking and software sectors are facing selling pressure.
The BSE-Sensex is trading lower by 26 points and NSE-Nifty is trading lower by 15 points. After opening the day on a strong note, both BSE Mid Cap and BSE Small Cap have lost their gains and are trading marginally higher by 0.1% and 0.3% respectively. The rupee is trading at 67.06 to the US dollar.
As per an article in leading financial daily, Wholesale Price Index (WPI) based deflation continued for a 13th month in a row. However, Consumer Price Index (CPI) based inflation rose to 5.41% in the month of November, highest since the new levels of series was launched in January. The CPI rose on the back of increasing food prices. The month of November witnessed a sharp rise in the prices of pulses, which were up by around 46% YoY.
CARE Ratings has stated that the low base effect has diminished and the inflation rates will continue to remain in this territory.
As per an article in leading financial daily, Tata Power has identified four geographies for driving the growth of the company. These geographies include Africa, South East Asia, Middle East and SAARC. Further, company has decided to focus more on the renewables segment. Managing Director, Mr. Sardana stated that the company wants to invest in the regions wherein they have all clearances and are able to achieve the threshold returns. To add to this, company is also looking at opportunities to expand its distribution business in the above-mentioned geographies.
The company has aimed to scale up its generation capacity to 18,000 MW, which would include 20-25% of clean energy.
Tata Power is trading down by 0.7%.
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