The BSE-Sensex is trading lower by 57 points and NSE-Nifty is trading lower by 20 points. BSE Mid Cap and BSE Small Cap indices are trading down by 0.4% and 0.5% respectively. The rupee is trading at 54.45 to the US dollar.
Auto stocks are trading weak led by Bajaj Auto and TVS Motors. As per a leading daily, Tata Motors' owned Jaguar Land Rover has launched new version of Land Rover Freelander 2 in India. As per the management, this locally built vehicle in India has been very popular with the Indian customers. It is available in two variants- the 2.2 litre diesel TD4 SE and the 2 litre diesel SD4 HSE priced at Rs 38.67 lakh and Rs 43.92 lakh respectively. These prices are ex-showroom in Mumbai. The latest version will have a more premium look to it. It will have new exterior design features and upgraded equipment levels apart from new colours. In the interiors too, it will have new features like a centre console, 7-inch colour touch-screen with enhanced audio systems and a fully integrated navigation system.
Software stocks are trading in the red led by Moser Baer and Mphasis Limited. As per a leading daily, Infosys is now open to utilizing its cash in buying out companies or returning it to investors. This flexibility and less conservative approach comes in as a surprise to the investor community. The IT company has US$ 4 bn as cash reserves and in the past it has always expressed desire to hoard on to this huge cash. However, there is a change in its approach towards cash utilization now. Infosys has set a deadline of 12-15 months for itself for making any acquisition. In case, the company fails to strike any major deal, it will seriously consider returning this money to its shareholders.