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India's Third Giant Leap

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Indian Markets open strong
Mon, 10 Aug 09:30 am

The major Asian stock markets have opened the day on positive note with China market (up 3.04%) being the top gainer in the pack. European and US stock markets closed their session in red on Friday. The rupee is trading at 63.78 per US dollar.

Indian stock markets have opened their day on a firm note. BSE-Sensex is trading up by 120 points (up 0.43%) and NSE-Nifty is trading up by 25 points (up 0.29%). S&P BSE Midcap is trading up by 0.65% while S&P BSE Smallcap index is trading up by 0.49%. Sectoral indices are trading positive with stocks in banking and Information Technology (IT) sector witnessing buying interest

Major stocks in the FMCG space have opened their day in green. As per an article in livemint, Britannia Industries is planning to scale up its dairy business, and is likely to invest as much as Rs 3-3.5bn in next upcoming quarters. Reportedly, the company will take eight to nine months more to complete its dairy plans and take it to the board. Currently, the dairy segment presently contributes less than 5% to the total sales of the enterprise. The company is evaluating an in-house model from procurement to processing as opposed to the current outsourced model. Stock of Britannia Industries is trading up by 1.73%.

Stocks in the pharmaceutical sector have opened their day on a firm note. As per an article in a financial daily, drug major Lupin has opened a research and development center for inhalation products in Florida, US. The facility will focus on the research and development of inhalation products for the treatment of asthma, allergic rhinitis, chronic obstructive pulmonary disease and other lung disease. Reportedly, the expansion will strengthen their ability to bring quality, affordable pharmaceutical to patients in the United States and the other key markets globally. Stock of Lupin is trading up by 0.63%.

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