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Markets Trim Initial Gains
Mon, 7 Dec 11:30 am

The Indian Markets trimmed initial gains and are trading range bound in the morning session Selling activity is highest in FMCG, PSU, and metal sectors.

The BSE-Sensex is trading down by 26 points while the NSE-Nifty is also quoting higher by 6 points. Meanwhile, BSE Mid Cap and BSE Small Cap indices are trading higher by 0.1% and 0.4% respectively.

Shares of Power Grid Corporation of India is trading on an encouraging note after it was reported that the company has acquired Vemagiri II Transmission, the project Special Purpose Vehicle (SPV), pursuant to its selection as the successful bidder under tariff based competitive bidding. The purpose is to establish Transmission System for 'Strengthening of Transmission beyond Vemagiri' Project on build, own operate and maintain (BOOM) basis from REC Transmission Projects Company.

The transmission project comprising of 765 kV & 400 kV, D/C transmission lines is to traverse the States of Andhra Pradesh, Telangana & Karnataka and includes establishment of one new 765/400 kV Substation as well as 400 kV bay extensions at two existing sub-stations in the State of Andhra Pradesh. It is to be noted that Power Grid transmits about 50% of the total power generated in India on its transmission network.

According to a leading financial daily, Tata Motors is planning to triple its sales network, filling the gaps in its product portfolio, improving manufacturing processes and brand image as a part of its strategy to be one of the leading players in the Indian passenger vehicle segment.

The company is also reportedly planning to introduce measures to cut costs at all levels in the organization and at the same time, working on improving manufacturing quality as well as workforce efficiency at multiple levels.

Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover (JLR), the business comprising the two iconic British brands. The script of Tata Motors was trading down by 0.5% at the time of writing.

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