10:40am TCS in News: Top
software exporter TCS has introduced a new platform which will increase
the level of automation in underwriting for insurance business.
"The solution automates the ability to
capture, analyse and make use of data in order to determine risk exposure and
risk aggregation," the Tata group company said in a statement here.
The solution, named 'Underwriting Workbench',
combines dynamic case management, intelligent work flow and decision support
systems with robust geospatial functions, it said.
It is designed to give underwriters full use of
location-based technology and data in order to inform risk selection, the
information gathering process, scoring, decision making and pricing.
10:20am FII View: Bharat Iyer,
JPMorgan says the market responded enthusiastically to the rate cut
announcement to start with, but subsequently sold off.
In terms of sector stance, the brokerage believes
the focus should remain on alpha, rather than beta, he adds.
"We would position for a potential recovery
in the local economy through high quality financials with a strong liability
franchise & manufacturing sectors with low financial leverage & high
operating leverage - commercial vehicles & cement are key picks here. We
would avoid chasing beta - particularly in segments like low quality financials
& infrastructure conglomerates. Separately, we remain overweight on IT
services & healthcare," says Iyer.
10:00am Market Check
The market is flat as the Sensex is up 34.16
points at 29414.89. The Nifty is at 8922.65.
About 1003 shares have advanced, 887 shares declined, and 149 shares are unchanged.
Cipla, Sun Pharma, HUL, Wipro and Dr Reddy's Labs
are top gainers in the Sensex. Among the losers are GAIL, Bharti Airtel, ICICI
Bank, Hindalco and Hero MotoCorp.
Gold edged above USD 1,200 an ounce as equities
weakened, but the safe-haven metal retained most of its losses from a three-day
decline on robust US economic data and strength in the dollar. The metal fell
on Wednesday after data showed US private employers added 212,000
private-sector jobs in February. Separately, the Institute for Supply
Management said its services index was 56.9 in February, up slightly from 56.7
in January.
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