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IT stocks weigh on Indian stock markets
Wed, 25 Apr 11:30 am

Indian stock markets have been trading flat over last two hours of trade. Among sectoral indices, auto and FMCG stocks are leading the gains, while IT and realty stocks are witnessing selling pressure.

The BSE-Sensex and NSE-Nifty are trading flat. However, BSE Mid cap and BSE Small cap indices are trading up by 0.3% and 0.4% respectively. The rupee is trading at 52.54 to the US dollar.

FMCG stocks are trading in the green led by Kokuyo Camlin and Godrej Consumer. According to a leading financial daily, Hindustan Unilever Limited (HUL) these days is focusing on product innovation and research to achieve its set targets. This is a part of the company's sustainable living plan that was introduced a year ago. Under this, the FMCG company wants to take initiatives towards reducing greenhouse gases, water and waste associated with the consumer use of its products. In line with the same, company has recently launched a dry shampoo that doesn't need water. It is spray on, absorbs oil from hair and lends volume. As per the management, it is easier to reduce water consumption this way rather than asking consumers to use less water while shampooing.

Auto ancillaries stocks are trading strong led by NRB Bearings and UCAL Fuel. According to a leading financial daily, Bharat Forge and Alstom Projects' joint venture (JV) that is expected to go on stream by 2013 has secured an order worth Rs 15.7 bn. The JV is investing Rs 24 bn to set a plant at Mundra in Gujarat. The JV, that will manufacture power equipments of 5,000 megawatt, has bagged this order from National Thermal Power Corporation (NTPC). The order is to supply two units of 660 megawatt supercritical turbine generators at NTPC's plant in Solapur in Maharashtra. It includes engineering, manufacturing, supplying and erection and commissioning of these two units.

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