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Metal & FMCG in favour
Thu, 6 Feb 01:30 pm

Indian share markets pared losses but continued to trade below the dotted line in the post-noon trading session. Barring metal, FMCG and power, all the sectoral indices are trading in the red with realty, capital goods and IT stocks being the biggest losers.

BSE-Sensex is down 34 points and NSE-Nifty is trading 4 points down. BSE Mid Cap is trading 0.2% down while BSE Small Cap index is trading up marginally. The rupee is trading at 62.4 to the US dollar.

Majority of the automobile stocks are trading in the red with Escorts and Tube Investments being the major losers whereas Eicher Motor and Maruti Suzuki are the few stocks trading positive. As per a leading financial daily, Bajaj Auto is planning to launch an indigenous car over the next two years. The car codenamed U car will be a premium, aspirational product and targeted at consumers who already own a premium bike such as Bajaj Pulsar. Despite being smaller than a Tata Nano, the Bajaj U car is likely to be priced between motorbike and traditional car. The car model will be front-wheel driven, gasoline-powered and will be equipped with disc brakes on all four wheels, automatic transmission and scissor doors. Bajaj Auto will also be launching intra-city transport four-wheeler vehicle RE60 after securing the government's approval. Bajaj Auto stock is currently trading down by 1.3%.

Telecom stocks are trading mixed today. Tata Communications and Idea Cellular are leading among the stock of gainers, while Tata Tele is trading weak. As per a leading financial daily, Bharti Airtel, India's largest telecom operator has restructured its African business in a bid to turnaround the business. The company has divided the continent's operations in to four business units and has appointed key executives effective from 1st April 2014. Bharti's African business is spread across 15 countries in the continent. The restructuring would categorize the the company's operations as per market share as opposed to the present linguistic and cultural factors. This would allow the company to bring dynamism and focus in to markets where it lags and consolidate its leadership position. The African business accounts for 30% of Bharti Airtel's total consolidated revenues.

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