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The major Asian stock markets have opened the day on a mixed note. Stock markets in Hong Kong and Japan are trading down by 0.3% and 0.2% respectively. However markets in Indonesia and China are trading up by 1% and 0.5% each. The major stock indices in Europe and US ended their previous session on a positive note. The rupee is trading at 64.75 per US dollar.

<>Indian stock markets have opened the day on a positive note. <>BSE-Sensex is trading higher by 94 points (up 0.3%) and <>NSE-Nifty is trading lower by 18 points (up 0.2%). <>S&P BSE Midcap and <>S&P BSE Smallcap have moved upwards. Both the indices are trading higher by 0.4% and 0.6% respectively. Major sectoral indices have opened the day on a mixed note with stocks from <>oil and gas and <>metals & mining sector witnessing buying interest. However stocks from <>automobile and <>FMCG sector are witnessing selling pressure.

Mahindra and Mahindra has launched two new products in the passenger and load category segment. The new launches are from their new product platform called Supro. Supro Van caters to the passenger van segment while Supro Maxitruck caters to the load carrier category.

Supro Van is an 8 seater diesel vehicle. The vehicle is suitable for large families and caters to the tour and travel segment. The vehicle is launched at a price of Rs 4.4 lakh ex-showroom Thane. As reported by Economic Times, vehicle can be used as a personal vehicle for large families in the semi-urban, Tier II and Tier III towns.

Supreme Maxitruck has a payload capacity of 1-tonne. The vehicle can be used for intra and inter city transportation of goods. The vehicle is launched a t a price of Rs 4.2 lakh ex-showroom Thane. The truck will compete with the likes of Tata Ace which enjoys a healthy market share in this segment.

Reportedly, company has invested a sum of Rs 1.2 bn for the product development of its Supro brand. The company will also export these vehicles to the SAARC countries and South African markets. The stock of M&M is trading up by 0.50%.

Radhika Pandit, our automobile analyst, recently released a detailed analysis of the company's latest results (subscription required) for the quarter ending June 2015. In the note Radhika explains the reasons behind the de-growth in the volumes of the automotive business and the future capital expenditure (capex) plans of the company. She also states her current view on the stock. If you are interested in the stock, then this is a must read!

HCL Technologies has reported its results for the quarter ending September 2015. The company's consolidated revenues in rupee terms grew by 3.3% on a QoQ basis to Rs 100.9 bn. The revenue in dollar terms rose marginally by 0.5% on a QoQ basis to US$ 1.5 bn.

The net profit of the company reported a fall of 3.2% to Rs 17.2 bn on a QoQ basis. Recently the company had given a profit warning before the end of September quarter. It had intimated that the revenue growth was likely to be tepid on account of adverse impact in relation to a client-specific issue for which a provision of US$ 20 mn is made. As we had written in the result analsysis for FY15 (subscription required), we believe, with topline growth slowing down and margins under pressure, HCL Tech's future performance mat not compare favorably with the past.

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