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Power & engineering, strong gainers
Fri, 23 May 01:30 pm

Indian share markets pared gains but continued to trade strong in the post-noon trading session. Barring banking and consumer durable, all the sectoral indices are trading in the green led by power and capital goods stocks.

BSE-Sensex is up 143 points and NSE-Nifty is trading 40 points up. BSE Mid Cap is trading 1% up and BSE Small Cap index is trading up by 1.5%. The rupee is trading at 58.4 to the US dollar.

Most of the FMCG stocks are trading in the green with Lakshmi Energy and Bata being the major gainers whereas Godrej Consumer Products and Dabur are trading in the red. As per a leading financial daily, Hindustan Unilever's (HUL's) deodorant 'Axe' has slipped to the third position after Raymond's Park Avenue deodorant displaced it from the second position. Vini Cosmetics 'Fogg' continues to be the number one deodorant brand with a market share of around 17%. Park Avenue and Axe have market shares of around 8% and 6%, respectively. Axe has been consistently losing its market share from 10% in March 2013 quarter. Fogg jumped up to the top position after its selling proposition based on the functionality (no of sprays in a bottle) struck a chord with the consumer in an inflationary environment. The deodorant market is largely youth centric and given its moderate penetration, it has been registering strong growth. HUL stock is currently trading down marginally.

Majority of the auto stocks are trading in the green led by Force Motors and TVS Motors. Only Bajaj Auto and Escorts are trading in the red. As per a leading financial daily, Hero MotoCorp will be increasing production of some of the variants of the 'Splendor' range of motorcycles by more than two times with an aim to meet the high domestic and export demand. With this move, the company also wants to grab back the position of the top-selling model that it lost to its former partner Honda's Activa scooter a few months ago. The company is doubling the production of Splendor iSmart to 20,000 units per month. The production of the other brands in Spendor will be ramped from June onwards when the company's Neemrana plant with 7.5 lakh units capacity goes onstream. It has three other plants in Gurgaon, Dhrauhera and Haridwar. While Bajaj Auto has been struggling to grow volumes, Hero MotoCorp has been witnessing strong demand. Hero Motocorp is trading up by 1.1%.

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