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Indian share markets remain buoyant
Fri, 14 Feb 01:30 pm

Indian share markets continued to trade higher in the post-noon trading session. Majority of the sectoral indices are trading in the red with metal, capital goods and pharma stocks being the biggest losers. IT, oil & gas and consumer durable are a few stocks trading in the green.

BSE-Sensex is up 52 points and NSE-Nifty is trading 13 points up. BSE Mid Cap and BSE Small Cap indices are trading down marginally. The rupee is trading at 62.3 to the US dollar.

Most of the large cap software stocks are trading on a positive note today. HCL Infosystems and TCS are among the major gainers on the bourses. As per a leading business daily, Infosys plans to hire about 200 MBAs from the top tier global B-schools. Besides the US, the company would also focus on recruitment of MBAs from Europe, Asia Pacific region and Australia given its high geographic mix of revenues from these regions. Where the company has lot of technical skills but not business skills, the move is expected to strengthen Infosys business consultancy and client engagement. The company has not hired any global MBAs over the past 4 years and the current hiring is a largest ever global recruitment drive by any Indian company. Infosys's stock currently is trading higher by 1.2% today.

Indian pharma stocks are trading mixed with Ipca Labs and Indoco Remedies leading among major gainers and Orchid Chemicals and Cipla being major losers. As per a leading financial daily, Dr Reddy's Laboratories (DRL) is planning to spend more than Rs 10 bn in capital expenditure in FY15. While DRL spent Rs 2.3 bn on capital expenditure in December 2013 quarter, the company expects to spend Rs 2 bn in March 2014 quarter. The company's research & development expenses in December 2013 quarter accounted for 8.4% of its revenues as compared to 7.1% of sales in the year-ago quarter. DRL's revenues in 3QFY14 grew by an impressive 23% YoY largely led by the strong 41% YoY growth in the global generics business. DRL's stock is currently trading down 1.4%.

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