Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 328 points, up 0.6%, at 57,666 levels.

Meanwhile, the NSE Nifty is trading up by 104 points.

HDFC Life and Shree Cement are among the top gainers today. Indian Oil Corporation and Tech Mahindra are among the top losers today.

The BSE Mid Cap index is trading up by 0.8%

The BSE Small Cap index is trading up by 0.7%.

On the sectoral front, stocks from the consumer durables and FMCG sector are witnessing most of the buying interest.

On the other hand, stocks from the automobile sector are witnessing most of the selling pressure.

US stock futures are trading mixed today.

Nasdaq Futures are trading up by 13 points (up 0.1%) while Dow Futures are trading down by 10 points (flat).

The rupee is trading at 72.97 against the US$.

Gold prices are trading flat at Rs 47,081 per 10 grams.

Gold prices continued to struggle in Indian markets today amid subdued global cues and a stronger rupee. On MCX, gold futures were flat at Rs 47,063 per 10 grams, extending losses to the fourth day. In the previous session, gold had settled flat.

In global markets, gold rates were steady ahead of US non-farm payrolls data which analysts say is crucial to the Federal Reserve's tapering plan. Spot gold was steady at US$ 1,814.5 per ounce.

Moving on to stock-specific news...

Among the buzzing stocks, today is Minda Corporation.

Shares of Minda Corporation rose over 4% on the BSE in early trade today after the company's subsidiary Spark Minda Green Mobility Solutions (SMGMS) entered an agreement to acquire a 26% equity stake in charging solutions startup EVQPOINT Solutions.

The investment will see Spark Minda Group become EVQPOINT's exclusive technology and manufacturing partner for battery chargers and EV supply equipment.

The partnership will help Spark Minda to capitalize on the accelerating shift to electric mobility and further bolster its position as a one-stop shop for comprehensive charging solutions for EVs including fast charging features.

EVQPOINT provides smart electric vehicle charging products and solutions indigenously designed and developed, to meet the growing needs of the e-mobility market.

The company is a one-stop solution for electric vehicle portable chargers, DC fast chargers, and smart charging stations integrated with a charge management system, mobile app, and interoperable tools.

The companies also entered into a technology license agreement (TLA) and a joint collaboration & technical assistance agreement.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, Minda Corporation shares were trading up by 4.6% on the BSE.

Speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.

Moving on to news from the banking sector...

RBI Imposes Rs 2.5 m Fine on Axis Bank for Rule Violations

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.5 m on Axis Bank for violation of rules.

The regulator cited non-compliance of the bank with certain provisions of directions issued by RBI contained in the Reserve Bank of India - (Know Your Customer (KYC)) Direction, 2016.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, the RBI said.

The RBI carried out a scrutiny of Axis Bank during February 2020 and March 2020 in a customer account maintained with the bank and it was observed that the bank had failed to comply with the aforesaid directions issued by RBI.

Subsequently, a notice was issued to the bank.

After considering the bank's reply, the RBI came to the conclusion that the charge of contravention of/non-compliance with the aforesaid RBI directions were substantiated and warranted the imposition of monetary penalty.