Energy stocks are trading mixed with Castrol and Hindustan Petroleum Corporation Limited (HPCL) as top gainers and Gas Authority of India Limited (GAIL) and Chennai Petroleum leading the losses. As per a leading daily, GAIL is targeting to sell 84.05 m standard cubic meters per day (mmscmd) of natural gas in 2013-14. GAIL recently signed a performance Memorandum of Understanding (MoU) with the government and is committed to transmit 110 mmscmd through its pipeline network. The MoU was signed by Oil Secretary Vivek Rae and GAIL Chairman and Managing Director BC Tripathi. The production target is set at 430,000 tonnes of polymers and 1.3 m tonnes of liquid hydrocarbons. Meanwhile, a pipeline project of GAIL has been halted in Tamil Nadu, at the starting point of the project. The project was to link Kerala and Karnataka via Tamil Nadu. However, the government has stated that pipelines cannot be laid on agricultural land.
Automobiles stocks are trading mixed with TVS Motors and Tata Motors leading among gainers and Mahindra Scooters and Eicher Motors are leading losers. As per a financial daily, Honda will be soon launching 100-110cc bike which will compete Hero MotorCorpor's Splendor. Reportedly, Honda's bike will is value engineered version of the existing 100-110cc bike dream yuga and will be priced to compete the Hero Motors splendour segment bikes. Dream Yuga is sold for Rs 44,000-48,000 while Splendor for Rs 40,000-45,000. The new bike from Honda is expected to compete around this lower price range. The stock of Hero MotorCorp was trading down by 0.3%.