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Indian share markets surge
Fri, 19 Dec 01:30 pm

Indian share markets continued to soar higher in the post-noon trading session. Barring FMCG & realty, all the stocks are trading in the green. Metal and oil and gas stocks are the biggest gainers today.

BSE-Sensex is up 338 points and NSE-Nifty is trading 96 points up. BSE Mid Cap is trading 1.2% up and BSE Small Cap index is trading up by 1.3%. The rupee is trading at 63.02 to the US dollar.

Most of the mining stocks are trading in the green led by Gujarat NRE Coke and Coal India. Only Manganese Ore of India Ltd (MOIL) has been trading weak. As per a leading financial daily, the government has fixed the floor price at Rs 150 per tonne for coal mines to be auctioned to steel, cement and other captive power plants. The reserve price for coal mines to be allotted to government companies and power stations has been set at Rs 100 per tonne. In order to protect electricity consumers from steep rise in tariffs, a reverse auction method has been suggested for power generation plants with cost-plus and tariff-based power purchase agreements. The bidding process would be through e-auction that would be handled by state-owned MSTC Ltd.

Majority of the domestic pharma stocks are trading positive with Panacea Biotech and Piramal Enterprises being the biggest gainers whereas Torrent Pharma and Cipla are among the few stocks trading in the red. As per a leading daily, Dr Reddy's Laboratories (DRL) has completed the acquisition of the Habitrol brand from Novartis Consumer Health, after the US Federal Trade Commission issued the consent order on 26th November 2014. Habitrol is an over-the-counter nicotine replacement therapy transdermal patch. The company will commence shipment of the product in the US markets shortly. DRL stock is currently trading up 1.8%.

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