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Cap goods stocks lead the gains
Tue, 27 Jan 11:30 am

After opening the day on a positive note, the Indian markets have remained above the dotted line during the morning session. Sectoral indices are trading mixed with Banking and Capital Goods stocks leading gainers. IT and Metal stocks are trading in the red.

The BSE-Sensex is trading up by 65 points and NSE-Nifty is trading up by 13 points. The BSE Mid Cap index is trading up by 0.7% and the BSE Small Cap index is trading up by 0.6%. The rupee is trading at 61.43 to the US dollar.

Cement stocks are trading mixed today. Ramco Cements and Heidelberg Cements are the leading gainers, while Ambuja Cement and Shree Cement are the leading losers. UltraTech Cement, India's largest cement maker reported a marginal net profit decline for the December quarter, despite 10% growth in cement sales volume. The company's net profit stood at 3.64 bn, 1.7% lower than Rs 3.7 bn during the same quarter of the previous year. The company sold 10.98 m tonnes of cement during the October-December period, compared with 9.98 m tonnes in the year-ago period. The quarter also saw UltraTech acquiring Jaiprakash Associates' 4.9 m tonnes Madhya Pradesh units. With this deal, UltraTech's overall manufacturing capacity has catapulted to 65 m tonnes per year.

Auto stocks are trading mixed today. Escorts and Tube Investments are the leading gainers, while Mahindra & Mahindra (M&M) and Bajaj Auto are the leading losers. According to a leading financial daily, India's largest commercial vehicle manufacturer Tata Motors will launch an electric version of its popular light truck Ace next financial year. Weighing around 1,600 Kg, the electric Ace will have an all steel chassis and no gears and perhaps no air-conditioning. The vehicle will likely have a top-speed of around 50kmph. Tata Motors is currently trading up 2%.

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