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Indian share markets shed gains
Tue, 19 Feb 11:30 am

Indian share markets traded flat during the previous two hours of trade after opening the trade on a firm note earlier. Sectoral indices are trading mixed with healthcare and IT stocks leading the gains while metal and capital goods stocks are witnessing selling pressure.

The BSE-Sensex and NSE-Nifty are trading flat. BSE Mid Cap and BSE Small Cap indices are trading up by 0.4% and 0.5% respectively. The rupee is trading at 54.28 to the US dollar.

Energy stocks are trading in the red led by Gas Authority of India Limited (GAIL) and Bharat Petroleum Corporation Limited (BPCL). According to a leading daily, Reliance Industries (RIL) is looking to offer voice and data services through its pan-India 4G network. This ends speculations about RIL looking at buying out a telco to offer such services. The Mukesh Ambani company is planning to set up telecom towers across India aiming at a total of 1 lakh towers in a phased manner. This implies that RIL is not opting for an asset light strategy of sharing telecom towers with other telecommunications companies. Its subsidiary Infotel, would set up these towers. RIL had earlier in 2010 acquired Infotel to enter into telecom business.

Power stocks are trading strong led by Torrent Power and Power Trading Corporation. As per a leading daily, Tata Power's 50.4 megawatt Samana wind energy plant in Gujarat has been registered under the United Nations Clean Development Mechanism (CDM) of the United Nations Framework Convention on Climate Change (UNFCCC). The project would help in carbon dioxide equivalent reduction in the environment to the tune of 96,821 tonnes. This is the third project by Tata Motors to be included in this framework. The other two were the one at Khandke, Maharashtra and the one in at Mithapur in Gujarat. As per the management, another wind project too is now in advanced stages of CDM registration.

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