Monday May 27, 01:30 PM
Markets resilient... |
|
By Equitymaster.com
The markets seem to be in a resilient mood and have reversed most of the losses in the last hour. Index heavy weights are slowly gaining and are likely to push the indices in to positive territory. Investors seem to expect positive announcements by the General in his address to Pakistan. PSU stocks are showing mixed activity and focus has shifted from non oil PSUs.
The BSE Sensex is at 3,246 (down 23 points) and the NSE Nifty is at 1,068 (down 3 points). The rupee is trading at Rs 48.98 per US dollar.
Wipro (WIPRd.BO, news) has floated a new arm to tap the huge investments made by western governments on information technology. The new arm is called 'Government Solutions' plans to tap the market which is estimated to be worth $100 bn. According to the company this strategy is expected to pay off in the long run. The company expects the revenue from government managed security services market to grow to $2 bn by 2005. The stock is up 3%.
L&T is planning to export cement to emerging markets like Gulf, China, South east Asia, Australia and central asia. This move was prompted after the glut observed in the cement industry. The company has recently obtained aquality certification from a European agency which will further boost its prospects in Europe. The stock has gained by nearly 1%.
|
