Indian Equity markets remain in green

Thu, 25 Apr 11:30 am

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Indian equity markets have remained in green during the previous two hours of trade. Maximum buying interest have been witnessed in the oil and gas and auto sectors while consumer durables and IT have faced the maximum selling pressures.

The BSE-Sensex is up by 154 points and NSE-Nifty is up by 61 points. BSE Mid Cap index is trading up by 0.88% while BSE Small cap index is trading up by 0.41%. The rupee is trading at 54.14 to the US dollar.

All power shares are trading in green with CESC Ltd and National Thermal Power Corporation (NTPC) leading the gains. According to a leading financial news medium, NTPC will start commercial operations from its third 500 MW unit located at Jhajjar, Haryana and known as Indira Gandhi Super Thermal Power Project (IGSTPP) from April 26, 2013. IGSTPP is being implemented by Aravali Power Company--a joint venture between NTPC, HPGCL and IPGCL. NTPC holds 50% stake in the plant while Haryana Power Generation Company (HPGCL) and Indraprastha Power Generation Company (IPGCL) have 25% stake each. Pursuant to the commissioning of the third 500 MW unit, the 1,500 MW first stage of the coal-based plant would be fully operational. The electricity generated from the plant will be mostly supplied to Haryana and Delhi. There is also provision for having two 660 MW units under stage II of the project. NTPC is the largest power generating company in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.

Software shares are trading on a mixed note with Moser-Baer India and HCL Infosystems leading the gains while Wipro and Tata Consultancy Services (TCS) are facing the maximum selling pressures. According to a press release by Tech Mahindra, a specialist provider of solutions and services to the telecommunications industry, the company has acquired lab assets and operations of the Type Approval Lab in Lund, Sweden. This acquisition is in continuation with its efforts to provide end-to-end test solutions to device manufacturers and global carriers. This lab was formerly part of Sony Mobile Communication's internal test function and now helps Tech Mahindra to establish its First European Test lab with multi-million dollar infrastructure. Tech Mahindra along with its wholly owned subsidiary CanvasM Technology already has state-of-the-art labs established in India and in the US. This acquisition is in line with Tech Mahindra's plans to lead the test space with an increased focus on Nordics region. Tech Mahindra's share is trading down by 0.51%.