Indian Markets Open Weak

Tue, 22 Dec 09:30 am

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Major Asian stock markets have opened the day on negative note, with stock markets in China (down 0.5%). Major stock indices in Europe ended their previous session on a dismal note too. However, benchmark indices in US ended the previous session on a positive note. The rupee is trading at 66.32 per US dollar.

Indian stock markets have opened the day on a negative note. BSE Sensex is trading lower by 75 points (down 0.3%) and NSE Nifty is trading lower by 26 points (down 0.3%). However, both BSE Mid Cap and BSE Small Cap have surged upwards and are trading higher by 0.2% and 0.4% respectively. Major sectoral indices have opened on a mixed note with stocks from pharmaceutical sector facing maximum buying interest. However stocks from information technology are under pressure.

As per an article in leading financial daily, owing to the recent diesel cars ban in New Delhi Tata Motors has been taking steps to revamp its portfolio. Accordingly the company is working on fully electric systems and partial hybrids for their future range of passenger vehicles.

Earlier, high cost of batteries made the electric vehicles expensive. However, higher production of electrical vehicles in China has led to a reduction in the cost of batteries. Partial hybrids too are cost efficient as they offer superior mileage. The initial cost of purchase of partial hybrid vehicles is expensive. However, in long run they become cost effective as they offer superior mileage.

Further, the company management stated that the company is commissioning a battery assembly pilot line in Pune. Going forward, this will help it to concentrate more on the electric version of passenger vehicles.

In recent times, Tata Motors has been focusing on bolstering its passenger vehicles portfolio through new launches. Indeed, it has outlined a product plan till 2020 as per which 2 new vehicle launches will be slated every year.

As per an article in leading financial daily, Cipla announced the launch of a generic version of anti-hepatitis drug named 'Ledipasvir-Sofosbuvir'. The drug is launched in India and is used to cure the hepatitis C virus.

Reportedly, 12-18 million people are suffering from hepatitis C virus in India. Further, this medicine is an oral combination therapy having a fixed dosage of once-a-day. A pharma company named 'Gilead Sciences' have signed a non-exclusive licensing agreement with seven Indian companies, including Cipla for the manufacture and distribution of the drug in India. Companies like Cadila healthcare and Natco have already launched the drug few month back.

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