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Indian markets trade higher
Tue, 11 Feb 11:30 am

After opening in the green, the Indian Indices are positively in the morning session amid outperformance among software stocks. The buying interest is also high in banking and auto stocks. The selling pressure is the highest in to pharma and energy stocks.

The BSE Sensex is trading up 90 points and the NSE-Nifty is trading up 25 points. The BSE Mid Cap index is trading up 0.3% and the BSE Small Cap index is trading up 0.4%. The rupee is trading at 62.37 to the US dollar.

Power stocks are trading mixed today. While Satluj Jal Vidyut and Tata Power are among the stocks leading the gainers; CESC and NTPC are among the stocks leading the losses. As per a leading business daily, private utility major Tata Power has commissioned a micro hydro power project in the state of Maharashtra. The micro project is of 10 kW and is commissioned at Bhira village in the state. The project is 150 MW and is hydro power project that would be used as supplementary clean energy station. As per the company, the successful implementation of the project and its synchronization with existing grid is believed to be a milestone for Bhira project. The company also expects to add such micro facilities to other locations going forward. Tata Power is trading up 0.5% today.

Energy stocks are trading mixed today. While Jindal Drill and Gujarat State Petronet Limited (GSPL) are among the stocks leading the gainers; Essar Oil and Mangalore Refinery and Petrochemicals Limited (MRPL) are among the stocks leading the losses. Indraprastha Gas has announced results for 3QFY14. The company's sales have increased by 19.8% YoY. Operating expenditure however increased by 24% YoY. Thus the operating profit was up marginally by 4.3% YoY. Other income however shot up by 169.8 % and interest costs fell by 15.8% YoY. This helped the profit before tax (PBT) increase by 4.9% YoY. At the bottomline level, the net profit was up by just 3.6% YoY. The net margin also fell by 1.3% YoY to 8.6% in 3QFY14. Indraprastha Gas is trading down 0.4% today.

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