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Midcap & smallcap buck trend
Tue, 25 Mar 01:30 pm

Indian share markets continued to trade below the dotted line in the post-noon trading session. Barring oil and gas and IT, all the sectoral indices are trading in the green with power, consumer durable and capital goods stocks being the biggest gainers.

BSE-Sensex is down 32 points and NSE-Nifty is trading down marginally. BSE Mid Cap is trading 0.4% up and BSE Small Cap index is trading up by 0.1%. The rupee is trading at 60.5 to the US dollar.

Most of the auto stocks are trading in the green with Ashok Leyland and Tube Investments being the major gainers whereas Force Motors and Escorts are a few stocks trading in the red. As per a leading financial daily, Maruti Suzuki has gained market share of 4.3% in the passenger car segment for FY14 and almost reached 50%, thanks to aggressive marketing and strong brand presence. The company is planning to double the monthly production capacity of its new hatchback Celerio to 10,000 units a month on robust demand. The company has asked its vendors whether they will be able to meet the incremental production as discontinuation of production of Ritz and A-star has resulted in 17,000 cars per month of spare capacity. On receiving go-ahead from vendors, the production of Celerio can be raised to 10,000 a month by July. Maruti Celerio is the first car to be offered with automatic manual transmission or AMT in the country. Maruti Suzuki's stock is trading up 0.3%.

Majority of the engineering stocks are trading in the green with Engineers India and ABB being among major gainers. As per a leading financial daily, Engineers India Ltd (EIL) has bagged a $40 m contract from Oman Refineries and Petroleum Industries Co (Orpic). The project management consultancy contract is for the Orpic's Liwa Plastics project that has been awarded to EIL against international competitive bidding. The Liwa Plastics Project consists of a new petrochemical complex adjacent to the Sohar refinery that includes 8 lakh tonne a year ethylene cracking plant, high density polyolefin plant, linear low density polyethylene plant, new polypropylene plant and associated utilities and offsite facilities. The feedstock for the plant will be brought from Fahud, 330 km from Sohar, and EIL's contract scope includes gas extraction at Fahud and transfer of natural gas liquids to Sohar. Engineers India is currently trading up 3.6%.

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