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India's Third Giant Leap

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Broad based buying in markets
Mon, 29 Dec 11:30 am

After opening firm, the Indian Indices have remained well above the dotted line in the morning session. All sectoral indices are trading in the green. Banking and metal stocks are leading the gainers.

The BSE-Sensex is trading up 213 points. The NSE-Nifty is trading up 61 points. The BSE Mid Cap index is trading up 1.1% and the BSE Small Cap index is trading up 0.9%. The rupee is trading at 63.66 to the US dollar.

Most software stocks are trading higher today. Tech Mahindra and HCL Technologies are leading the gainers. Leading software firm, Tech Mahindra has announced an increase in its global seating capacity. The company plans to add 30,000 people to its staff in the next two years. The company currently has about 95,000 thousand employees. Tech Mahindra has ambitious growth targets and will need to hire in large numbers to meet the demands of clients. Most of the new people will be based in India, mainly in three locations; Pune, Hyderabad, and Bengaluru. The stock is trading up 0.8% today.

Most telecom stocks are trading higher today. Tata Communications and Reliance Communications are leading the gainers. As per a leading financial daily, Bharti Airtel has put on hold its decision to charge separately for calls made on its data networks using Skype, Viber, Line etc. The company faced a lot of criticism for the decision and it was termed anti-competitive. The company will now wait for the government to float a consultation paper on the issue. Based on the feedback received, the government will take a call on the same.

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