Indian Indices Open Flat

Thu, 25 Feb 09:30 am

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Major Asian stock markets have opened the day on a mixed note. The stock markets in China and Hong Kong are trading lower by 3.6% and 1.3% respectively. However, stock markets in Taiwan and Japan are trading higher by 0.8% and 0.3% respectively. Major indices in Europe ended their previous session on a disappointing note. The rupee is trading at 68.56 per US$.

Indian stock markets have opened the day on a flattish note. The BSE Sensex is trading marginally lower by 11 points (down 0.05%) and NSE Nifty is trading lower by 1 point (down 0.01%). Both BSE Mid Cap and BSE Small Cap are trading higher by 0.1% and 0.2% respectively. Barring, <>FMCG sector, major sectoral indices have opened the day in green with stocks from <>oil & gas and <>pharmaceutical sectors witnessing maximum buying interest.

As reported in a leading financial daily, UltraTech Cement is among front runners for acquiring cement capacity of Jaiprakash Associates. Reportedly, UltraTech will be acquiring 20 million capacity for Rs 180 billion. The company would fund the deal largely through loans and the rest through equity.

This acquisition will help the company to enhance its capacity. Post-acquisition the capacity will jump by 30% to 85 million tonnes from the present 65 million tonnes. The deal will also help the company to strengthen its position as a market leader.

Having said that, there are certain regulatory issues which can hamper the deal. Provided the regulatory issues are cleared, the transaction will help Ultratech to achieve its 100 million tonne long term cement capacity target.

In another news update, Lupin is planning to make significant investments in Japan. The company is planning to set up a new plant in Japan. Additionally, company is investing Rs 1 billion in a manufacturing facility in Indian which will cater to the Japanese market.

Japan is considered to be the second biggest pharmaceutical market in the world. And Lupin is among few Indian companies to have established its presence. The company witnessed a 9% YoY growth from its business in Japan for the quarter ended December 2015. Lupin has been witnessing muted growth in Japan since last few quarters. Hence the current growth is quite an encouraging one.

It is imperative to note, Japan pharma market has most strict regulatory norms. Hence not many Pharma companies have been able to sustain in this market. Having said that, the companies those who have established their presence can benefit in the long run.

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