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Midcap & small cap, outperformers
Wed, 2 Apr 01:30 pm

Indian share markets continued to remain buoyant in the post-noon trading session. Barring FMCG, metal and banking, all the sectoral indices are trading in the green. Pharma, oil and gas and IT stocks are the major gainers.

BSE-Sensex is up 67 points and NSE-Nifty is trading 14 points up. Both BSE Mid Cap and BSE Small Cap indices are trading up by 1% each. The rupee is trading at 59.6 to the US dollar.

Most of the Food & beverage stocks are trading in the green with Golden Tobacco and Ruchi Soya being the biggest gainers whereas ITC and Tata Global Beverages are the major losers. As per a leading financial daily, food major Nestle, that has been battling slowdown pressures for the past three years, has spelt out focus on health & wellness and noodles, segments in which new launches would be made. The company also wants to enter water and pet foods segment in future. The company has been facing slowdown pangs across product segments. In a bid to improve profitability, Nestle has been trimming low-margin products in chocolate and beverage segments that make up 24% of its overall revenues. In 2013, Nestle reported subdued volume growths of 3.8% and 3% in prepared dishes and beverages, respectively. On the other hand, offtake of milk foods & nutrition and chocolates and confectionary fell by 3.5% and 2.2% respectively pulling down overall volume growth to a mere 0.6% during the year. Nestle has seen a dramatic slide in its performance with volume growth slipping from 17% in 2010 to 6.8% in 2011 and further shrinking to 0.8% in 2012. Nestle's stock is trading up 0.5%.

Majority of auto stocks are trading higher today. Escorts Ltd. is leading the pack of gainers. As per a leading business daily, two-wheelers majors have released their annual sales figures. During FY14, Bajaj Auto's sales volumes fell by 9% to 3.87 m units. On the other hand, Hero MotoCorp's total sales in FY14 grew by 2.8% YoY, despite a high base effect, to 6.25 m units. The company's annual dispatch numbers were the highest ever, thanks to its huge sales network in the tier 2 and 3 cities and aggressive marketing initiatives. The company expects to come up with couple of new launches in FY15. The stock of Hero MotoCorp is trading higher, while Bajaj Auto is trading marginally lower today.

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