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IT & Pharma stocks lead the gainers
Fri, 27 Jun 11:30 am

After opening in the green; the Indian Indices have remained above the dotted line in the morning session helped by significant buying interest in IT and Pharma stocks. However, Metal stocks are under pressure today.

The BSE Sensex is trading up 75 points and the NSE-Nifty is trading up 20 points. The BSE Mid Cap index is trading up 0.4%, while the BSE Small Cap index is trading up 0.7% today. The rupee is trading at 60.1 to the US dollar.

Most Software stocks are trading higher today. HCL Technologies and Tata Consultancy Services (TCS) are leading the gainers. As per a leading news daily, India's third largest software firm Wipro, has won a large software contract from the Dutch media firm Sanoma. As per the contract, Wipro will manage and develop Sanoma's IT infrastructure and provide offshore support. Also, 38 employees of Sanoma will join Wipro with no change in their terms of employment. The deal will help Sanoma cut costs and improve the speed of backend data processing. This will also enable Sanoma respond faster to changes in the marketplace. Wipro has good domain expertise in the media space and this vertical contributes about 10% to the company's topline. Wipro is trading up 1.4% today.

FMCG stocks are trading mixed today. While Archies is trading firm, Emami is trading in the red. As per a leading business daily, Marico plans to experiment with e-commerce site for sales of its niche products, which it has already used to test its new product launches. The company has pre-launched its hair wax product, 'Set Wet' few weeks before the formal launch of the product. This enables the company to have a feasibility study of whether the product is going to work. Marico now wants to put the channel to test and create a new business out of it. It is exploring distribution opportunity through e-commerce to push its niche products to remote areas like north-east where the company doesn't have robust network. In US, the company used Amazon to offer its flagship brand Parachute, which is considered a niche product there. In India, it is expected to prefer site like Flipkart and grocery portals among for other niche products like Livon and Bio Oil. The stock is trading higher by 0.4% today.

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