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Markets flat after RBI holds rates
Tue, 4 Aug 11:30 am

After opening the day on a bearish note, the Indian Indices are trading flat after the RBI kept the benchmark interest rates unchanged. Sectoral indices are trading on a mixed note with energy and software stocks leading the losers. However banking and auto stocks are trading in the green.

The BSE-Sensex is trading lower 33 points (down 0.1%) and the NSE-Nifty is trading down 6 points (down 0.1%). The BSE Mid Cap index and the BSE Small Cap index are trading positively, up by 0.8% and 0.6% respectively. The rupee is trading at 63.92 to the US dollar.

Paint stocks are trading in the green with Akzo Nobel and Jenson & Nicholson leading the gainers. As per a leading financial daily, Kolkata-based paint company Berger Paints India Ltd has decided to set up two manufacturing units in the north-eastern state of Assam. This initiative is undertaken in order to boost its presence in East India. The company would invest Rs 600 m to set up the construction of these two plants at Guwahati and Tejpur, the work for which will begin in next financial year. The Guwahati unit is planned to produce company's British paints branded items while the Tejpur plant would manufacture products under the Berger brand. The company is looking at an initial capacity of around 2,000 tonne per month from each unit. The scrip of Berger Paints is trading up by about 2.6%.

Most of the stocks in the automobile sector are trading on a positive note with Force Motors and Hero Motocorp witnessing maximum buying interest. According to financial times, country's largest two wheeler player Hero Motocorp has reported its numbers for the first quarter ended June 30, 2015. The company has reported a 33% surge in its net profit on a YoY basis. Net sales for the company declined 2% YoY. The operating profit during the period rose 44% YoY while the EBIDTA margin rose to 15% YoY. The company for the month of July has sold 4,87,580 units, an 8% decline as compared with last year. Presently the stock of company is trading up by 2%.

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