Indian equity markets have traded in green during the previous two hours of trade. The most noticeable upward movements have been witnessed in the metal and realty sectors while banking and auto have showed no movements whatsoever.
Software stocks are trading on a mixed note with Mahindra Satyam and Tech Mahindra leading the gains while Info Edge and CMC Ltd are facing maximum selling pressures. According to a leading financial daily, the management of Wipro Infrastructure Engineering, the hydraulics business of Wipro Ltd has said that it is going ahead with an expansion plan in the defence and aerospace segments, leveraging on their experience and competence in the precision engineering and machining space. As a part of this strategy, Wipro has already unveiled India's first aerospace actuator manufacturing facility at the Devanahalli Special Economic Zone near Bangalore International Airport. The plant is set up in a 7.2 acre campus and an initial investment to the tune of Rs 650 m has been made. The plant has an initial capacity to manufacture 2,000 actuators in a year, however the existing infrastructure can support a further 6,000 actuators per annum. Aerospace actuators are used in different applications in an aircraft, including landing gear, flight control systems and engines. The global actuator systems market is pegged at around USD 3 billion. Wipro's share is trading up by 0.09%.
Auto stocks are also trading on a mixed note with Maruti Suzuki and Maharashtra Scooters leading the gains while Hero Motocorp and Eicher Motor are leading the losses. As per a leading financial daily, Bajaj Auto would become the first Indian automobile company to have an on-road presence of two-wheelers in the US starting 2014, when it would be launching its sports bike model KTM Duke 390. The model would be developed in close collaboration with Bajaj's Austrian partner, KTM AG. The model would be manufactured in Bajaj's Chakan plant in Pune. The Company hopes that its launch would be a success. Despite the fact that US is a saturated market, people have shown a tendency to move away from cars and towards motorcycles post the downturn. KTM Duke 390 is expected to be rolled out in India and Europe before its launch in the US. The bike would weigh about 138 kg, have a bhp in the range of 40-44. Sales of around 10,000 Duke 390s are expected in Europe and the US subsequent to its launch. KTM toppled BMW in 2012 to become Europe's largest bike-maker with an annual production of 107,000 units compared to BMW's 106,000. Bajaj's share is trading up by 0.70%.