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Indian share markets open firm
Fri, 6 Dec 09:30 am

Asian stock markets have opened the day on a mixed note with Indonesia (down 0.8%) and Singapore (down 0.4%) leading the losses. However, markets in Japan (up 0.4%) and Taiwan (up 0.3%) are trading firm. The Indian equity markets indices have opened the day on a positive note. Stocks in the banking and capital goods space are leading the gains.

The Sensex today is up by around 77 points (0.4%), while the NSE-Nifty is up by around 24 points (0.4%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.5% and 0.3% respectively. The rupee is currently trading at Rs 61.75 to the US dollar.

Steel stocks have opened the day on a mixed note with Steel Authority of India Ltd (SAIL) and Bhushan Steel leading the losses. However, Tata Sponge Iron Ltd and Adhunik Metaliks are trading firm. As per a leading financial daily, SAIL has reported total sales volume of 9.7 lakh tonnes for the month of November 2013. This is 10% higher than the sales volumes in the corresponding month of the previous financial year. The company's exports witnessed a three-fold year-on-year (YoY) jump in volumes with shipments to the tune of 61,000 tonnes during November 2013. Total export volume for the period April-November 2013 stood at 3.2 lakh tonnes, higher by 72% YoY.

Indian pharma stocks have opened the day on a firm note with Orchid Chemicals, Piramal Enterprises, Strides Arcolab and Ranbaxy Laboratories leading the gains. As per a leading financial daily, Cipla's wholly owned subsidiary Cipla Holding B.V. has acquired 100% stake in Croatia-based firm Celeris d.o.o. It must be noted that Celeris is the distributor of Cipla's products in Croatia. The company has not disclosed the financial figures pertaining to the acquisition. The acquisition of Celeris is in line with the company's aim to establish a platform to market its products. Given that Celeris is a ready-made platform for the company, it would be particularly beneficial for launching respiratory drugs in Europe.

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