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IT stocks lead among gainers
Wed, 17 Sep 11:30 am

After opening firm, the benchmark Indian indices have continued to trade strong during the morning trading session. Majority of sectoral indices are trading in green with software and realty stocks being the leading gainers in the pack.

The BSE-Sensex is trading up 134 points. The NSE-Nifty is trading up 42 points. The BSE Mid Cap index is trading down 0.10% while the BSE Small Cap index is trading up 0.39%. The rupee is trading at 61.10 to the US dollar.

Most software stocks are trading higher today. Infosys and Wipro are leading the gainers. As per a leading business daily, India's second largest software firm Infosys, has begun working with top Japanese retailer Muji, to develop an interactive software platform for its 2 m customers. Infosys will deploy its proprietary platform InteractEdge, to help the retailer realise real-time insights into consumer behavior. Muji has nearly 600 retail stores in Japan and is looking to enhance its online presence. InteractEdge will help the firm generate higher sales through personalised product recommendations by understanding its customer's preferences better. The financial details of this transaction were not disclosed. Japan is currently not a big market for Infosys but the IT firm is looking to expand its presence in the country. Infosys is currently trading up 1.6%.

Majority of Indian pharma stocks are trading firm with Dishman pharma and Biocon Ltd being among the leading gainers in the pack. As per the financial daily, multinational American drug maker Gilead has entered into alliance with pharma companies to sell hepatitis generics in 90 countries. The company has signed deal with Zydus Cadila, Cipla, Strides Acrolab, Hetero, Mylan. Reportedly, Since Gilead has applied for a patent on these drugs in many countries, including India. The deal is seen as its strategic move to leverage the drugs' potential, as well as save its patent protection, which is under attack in many countries. Gilead has given rights to these companies to sell its new hepatitis C medicines sofosbuvir and ledipasvir at lower prices. Cipla has also been given exclusive API supply rights. The domestic companies are expected to benefit from this deal.

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