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Revealed
India's Third Giant Leap

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Indian markets surge
Mon, 22 Jun 01:30 pm

After opening the day on a positive note, the Indian indices are trading higher in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the Banking and Power sectors leading the gains.

The BSE-Sensex is trading up 366 points (up 1.3%) and the NSE-Nifty is trading up 117 points (up 1.43%). The BSE Mid Cap index is trading up by 1.25% and the BSE Small Cap index is trading up by 1.27% points. Gold prices, per 10 grams, are trading at Rs 26,971 levels. Silver price, per kilogram, is trading at Rs 36,641 levels. Crude oil is trading at Rs 3,862 per barrel. The rupee is trading at 63.55 to the US dollar.

Automobile stocks are trading on a mixed note with Escorts and Maharashtra Scooters witnessing maximum buying interest. As per a leading financial daily, Tata Motors has sold 3000 GenX Nano in a month of its launch. The car was launched on May 19 and has delivered 1,000 cars to buyers and is in process of delivering another 2,000 units. It is priced at Rs 1.99 lakh for the manual transmission (MT) version and Rs 2.69 lakh for the automated manual transmission (AMT) version. The response for this new launch compares favorably with an average monthly sale of 1,400 cars that the previous version did last year. Stock of Tata Motors is currently trading up by 2.2%.

Stocks in the engineering sector are trading mixed with Suzlon Energy and Praj Ind. Ltd. leading the gainers. As per financial times, Larsen & Toubro's Metallurgical and Material Handling (L&T-MMH) business has secured new orders worth Rs 15 bn across various verticals. The company has won a prestigious EPC order from Emirates Global Aluminum (EGA) for its Greenfield alumina refinery development project in Al Taweelah, Abu Dhabi and UAE. The project includes engineering, procurement, fabrication, erection and other associated works. Also, L&T-MMH has won EPC orders from SAIL for the installation of a slab caster, and suppressed combustion system along with replacement of basic oxygen furnace converter for modernization of its steel melt shop at Bokaro.

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