Metal stocks lead among gainers

Thu, 26 Sep 01:30 pm

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The Indian markets have continued to trade in green during the post noon trading session. Most of the sectoral indices are trading in green, with metal and healthcare stocks being the top gainers. However, stocks from realty and oil and gas space are witnessing maximum selling pressure.

BSE-Sensex is up by 37 points and NSE-Nifty is trading up by 9 points. While BSE Mid Cap is trading up by 0.14%, BSE Small Cap index is trading up by 0.47%. The rupee is trading at 62.15 to the US dollar.

Most of the automobile stocks are trading in green with TVS motors and Ashok Leyland leading the pack of gainers. As per the financial daily, Tata motors will be soon starting to work on two true blue sports utility vehicles for Indian markets. Around five years back Tata motors had acquired Jaguar land rover (JLR), finally after a long wait both the companies have started to work on it. The said vehicles will be sold under Tata's brand name. Of the two proposed vehicles, one is expected to get launched in 2016 with the price of Rs 10-15 lakhs. Reportedly, Tata Motors is expected to ask its vendors to begin the supply of components from first quarter of 2015. Further, both the companies are looking to optimize its synergy strengths. It should be noted that, Tata Motors was the first company to introduce the SUV wave into Indian markets. Its brands like Estate and Sierra models, followed by Safari and Sumo have been among the most known brands. However, it lost out to Mahindra, which came out with successful products such as Bolero, Scorpio and Xylo. With these new launches company expects to give tough competition to the current top selling SUVs. The stock of Tata motors was trading up by 0.4% at the time of writing.

FMCG stocks are trading mixed with Gillette India and P&G Hygiene being the major gainers and Hindustan Unilever and Marico being the principal losers. As per a leading financial daily, Godrej Consumer Products (GCPL) has launched a disruptive product in the mosquito repellant category. The new product Good Knight Fast card is the company's new mosquito repellant in paper format. The product is essentially a slip of paper that burns for three minutes but is effective against mosquitoes for nearly four hours. It does not consume electricity and is smoke-free, making it different from all the other mosquito repellants available in the market. The product is priced at rupee one per use and comes in a pack of 10 cards. GCPL's R&D teams in India and Indonesia have jointly developed the product. The product has already been launched successfully in Indonesia under the brand name Hit Paper Magic. The new product may eat into the market shares of the company's products in existing formats such as coil, mat, vaporizer and aerosols but it would also tap new markets. With a leadership position in the household insecticides business through its existing brands HIT and Good Knight, the new launch is expected to further strengthen GCPL's presence and add to revenues. GCPL stock is currently trading up by 0.5%.