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Indian share markets continue in the green

Indian share markets continued to trade in the green during the previous two hours of trade. Sectoral indices traded firm with energy and power stocks as the only exceptions.

The BSE-Sensex is trading higher by 80 points and NSE-Nifty is trading up by 18 points. BSE Mid Cap and BSE Small Cap indices are trading up by 0.4% and 0.7% respectively. The rupee is trading at 54.53 to the US dollar.

Engineering stocks are trading strong led by Manugraph India and Sanghvi Movers. As per a leading daily, Bharat Heavy Electricals Limited's (BHEL) electronics division (EDN) has witnessed decline in turnover to Rs 33.6 bn in 2012-13. The turnover of Industrial Systems Group stood at 11.61 bn which is an increase of 16% over previous year. Last year the turnover of the EDN was Rs 37.48 bn. However, despite the slowdown in the economy and high competition, the company has been able to procure orders worth Rs 13.18 bn. BHEL has received many orders from Indian Railways. It also commissioned Karnataka's largest 5MW grid-connected solar power plant under Jawaharlal Nehru National Solar Mission for Karnataka Power Corporation at Belakavadi near Shivanasamudra in Karnataka. This implies a growth of 46% over last year's order book. The outstanding order book position of EDN stands at Rs 38.05 bn.

Auto stocks are trading mixed led by Tata Motors and Maharashtra Scooters. However, Mahindra & Mahindra and Force Motors are witnessing losses. As per a leading daily, Bajaj Auto recently launched premium sports bike, Kawasaki Ninja priced at Rs 3.5 lakh. The new Ninja 300 is the fourth product in the Kawasaki Ninja range. With this the company aims to sell 1500-2000 units of Ninja 300 by the year end and phase out Ninja 250R model soon. We may note here that Ninja 250R and Ninja 650R are family bikes and the auto company has been able to sell 3500 units of these family bikes since 2009. As per the management, Ninja 250R which was launched only in August last year and has been a success in domestic markets will be replaced by the new Ninja 300.