Indian Equity markets trade in green

Tue, 16 Apr 11:30 am

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Indian equity markets have traded in green in the previous two hours of trade. Maximum buying interest have been witnessed in the capital goods and banking sectors while IT and consumer durables have faced the maximum selling pressures.

The BSE-Sensex is up by 209 points and NSE-Nifty is up by 65 points. BSE Mid Cap index is trading up by 0.53% while BSE Small Cap index is trading up by 0.4%. The rupee is trading at 54.35 to the US dollar.

IT shares are trading on a mixed note with Mphasis and Moser Baer India leading the gains while NIIT Ltd and CMC Ltd are facing the maximum selling pressures. According to a leading financial news medium, IT major, Infosys Ltd has signed a strategic partnership deal with Queen's University, Belfast to combat the global cyber security threat. Queen's University Belfast's 'Centre for Secure Information Technologies' (CSIT) is one of UK's largest and most prestigious cyber security research labs. The partnership aims to establish a research, education and commercialization model to develop solutions and intellectual property for combating cyber security threats arising out of the rise of digital and cloud-based business models. The three-year agreement will lead to the establishment of a CSIT-Infosys Cyber Lab that will become part of a global network of companies and institutions developing security technologies. Infosys and CSIT will work jointly on a range of topics including combating malware, security of mobile and cloud infrastructures, and privacy issues for financial markets. Infosys's share is trading down by 1.07%.

Engineering shares are trading on a mixed note with Punj Lloyd and Manugraph India leading the gains while KSB Pumps and Emco Ltd are facing the maximum selling pressures. According to a leading financial daily, engineering major, Greaves Cotton announced on Monday, their decision to launch an entry level mini tractor, Ustad. Ustad is expected to run at 11-12 horse power and is expected to be priced at around Rs 240, 000. Greaves Cotton plan to expand their footprint in the farm equipment sector by launching the mini tractor, which will compete head to head with Mahindra and Mahindra (M&M)'s, Yuvraj. The target customers will include small farmers with land banks of 3-5 acres each, and who cannot afford large tractors. Greaves Cotton has developed this tractor with a Rajkot-based company in Gujarat to which it will outsource the manufacturing. They have, however, declined to name the Gujarat based company. Greaves Cotton's share is trading up by 2.1%.