Tag Archives: Indian Market

Indian Market Slips; European Indices Also Close Lower

Indian Stock market slipped on Monday after a very good start for the New Year 2013. Stock market experts are still positive about the movement of the Indian stock market. Goldman Sachs has given positive rating for Indian and Chinese markets.

BSE Sensex closed 93 points lower at 19691 and NSE Nifty closed 27 points lower at 5988. Among major losers in today’s trade were Larsen, Jaiprakash Associates, HDFC and HUL.

Goldman Sachs has given a strong guidance for Indian stock markets with 7000 as target for NSE Nifty by the year end. The brokerage house has upgraded the GDP growth for Asian region to 6.9 compared to earlier estimates of 6.2 per cent.

Bajaj Auto MD has expressed worries over lower sales in auto sector. He has pointed that Bajaj Auto expects flat sales in year 2013.

Major gainers in today’s session were BPCL, Maruti Suzuki, Cipla and Tata Steel.

Ericsson Eyes Indian Market As Export Center For Networking Gear

Telecommunication equipment manufacturer Ericsson stated that it was looking at making the country a worldwide export centre for networking gear from its Jaipur plant.

Ericsson India President Fredrik Jejdling stated, “We have recently increased capacity at our facility in Jaipur. In the future, we are looking at making this facility a global export hub.”

But, he refused to remark on the details of investment and time period for beginning for exports from the division.

Commencing with wireline hardware fabrication, it makes 2G and 3G tools at the said division.

Ericsson handles assembly lines offering tools for radio access system, core net, transmission solutions and modules from the division.

With the initiation of novel technologies, comprising 3G and TD-LTE, in the country, the development was done to expand the company’s capacities to hold up the clients in a better way.

“We can now look at exporting to other countries as well,” Mr. Jejdling said.

Ericsson owns manufacturing divisions in Sweden, China as well as Brazil.