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Banking stocks lead the gains
Mon, 21 Jul 11:30 am

After opening in the green, the Indian Indices are currently trading strong in the morning session amid outperformance among mid and small caps stocks. The buying interest is the highest in Banking and Energy stocks while the selling pressure is the highest in IT stocks.

The BSE-Sensex is trading up 111 points. The NSE-Nifty is trading up 25 points. The BSE Mid Cap index is trading up 1% and the BSE Small Cap index is trading up 1.1%. The rupee is trading at 60.18 to the US dollar.

Most Telecom stocks are trading higher today. Idea Cellular and Tata Communications are leading the gainers. As per a leading financial daily, India's telecom firms may take advantage of the RBI decision for setting up of payment banks. This recent decision allows telecom firms to set up payment banks which can accept deposits from customers. This can potentially open up a new revenue stream for existing telcos by means of mobile banking. Bharti Airtel and Vodafone already have experience in this domain and could benefit from this business. However, it must be kept in mind that the regulations have not been formalized and a lot would depend on the details when the RBI issues them.

Majority of Power stocks are trading in green with KSK energy and Gujarat industries power ltd being among the stocks leading the gainers. As per a financial daily, in line with the company's expansion plans, Tata power is looking for investment opportunities in various overseas geographies and is also exploring for various options for acquisition. Reportedly, such acquisitions would help to leverage its existing businesses in the power value chain. Over and above this, the power major is also looking for opportunities for providing management and technical advisory services in the distribution business. The company will continue to focus on scaling up power generation capacity and other value added business of services and trading. Tata power is trading down 0.4% today.

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