Indian Markets Inch Upwards

Wed, 27 Jan 01:30 pm

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After opening the day on a flattish note, the Indian indices managed to log in some gains and are presently trading on a positive note. Sectoral indices are trading on a positive note with stocks from the power, realty and telecom sectors leading the gains.

The BSE Sensex is trading up 102 points (up 0.4%) and the NSE Nifty is trading up 27 points (up 0.4%). Both, the BSE Mid Cap index and the BSE Small Cap index are trading up by 0.5%. Gold prices, per 10 grams, are trading at Rs 26,723 levels. Silver price, per kilogram is trading at Rs 35,220 levels. Crude oil is trading at Rs 2,106 per barrel. The rupee is trading at 68.07 to the US$.

Stocks in the engineering space are trading on a mixed note with Manugraph India leading the gains and Jindal Drilling leading the losses. As per a leading financial daily, Blue Star is planning to set up two new facilities in order to expand its manufacturing capacity. These are to be set in Jammu and at Sri City and will increase the production of room ACs by around 0.5 million units for the company.

The two facilities are planned at a cost of Rs 1,500-1,750 million and will be operational by 2017. The unit at Sri City, which is around 60 kms from the North of Chennai, will help to bring down transportation cost of the company which presently accounts for about 7%. Furthermore, it will also aid logistics as most of the sales for the company come from the southern region.

On a separate note, Blue Star is eyeing around 12% market share in the Indian AC market by the end of FY17, from the current 10.5%. For this, the company is planning to roll out new products and is going to invest around Rs 300 million for new product development as well as ramp up its research and design initiatives in FY17.

Blue Star is India's leading central air-conditioning and commercial refrigeration company. Presently, the company has nearly 70 exclusive product stores in the country and plans to increase it to 100 stores by the end of FY17. The company's new line-up of room air-conditioners consists of over 135 models. It has also built up an installation and service franchise network to support the retailers, and plans to introduce a same-day installation facility in the National Capital Region.

Presently the stock of the company is trading down by 1.2%.

Telecom stocks are trading on a positive note with Himachal Futuristic and Idea Cellular leading the gains. As per a leading financial daily, Idea Cellular, one of the biggest cellular carriers of the country, is planning to launch 4G LTE network in 750 towns under 10 circles by June 2016. Since December 2015, the company has rapidly rolled out its high-speed 4G LTE network to cover seven major markets in India. By March 2016, the company's services will extend to three more key markets namely, Maharashtra, Goa and Odisha.

Further, on a separate note, the company together with Bharti Airtel and Reliance Jio Infocomm is considering to aggregate technologies which will help club together fragmented spectrum brands. The effort is undertaken in order to virtually create larger airwave blocks that will enable these telecom operators to offer faster and more stable 4G services to users.

For doing so, there are two carrier aggregation technologies in the market- LTE-A (Advanced) and LTE-U (Unlicensed). LTE-A promises to deliver two to three times faster speeds than today's 4G LTE while LTE-U, on the other hand, is a system of wireless communication designed to use unlicensed spectrum.

Carrier aggregation is vital in India where spectrum allocations are sparse for all operators and split in various bands. It can allow operators the flexibility to leverage the entire allocated spectrum band.

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