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Indian Indices Remain Flat
Mon, 4 Apr 01:30 pm

After opening the day firm, the Indian indices have lost their early gains and are currently trading marginally down. Sectoral indices are trading mixed with stocks from the oil & gas and FMCG sectors leading the losses. Telecom stocks are trading in the green.

The BSE Sensex is trading lower by 16 points (0.1%) and the NSE Nifty is trading up by 4 points (0.1%). The BSE Mid Cap index is trading up by 0.1% while the BSE Small Cap is trading up by 0.2%. Gold prices, per 10 grams, are trading at Rs 28,104 levels. Silver price, per kilogram, is trading at Rs 35,662 levels. Crude oil is trading at Rs 2,416 per barrel. The rupee is trading at 66.25 to the US$.

Stocks in the automobile space are trading on a mixed note with Mahindra & Mahindra and Escorts leading the gains. As per a leading financial daily, Hero MotoCorp registered a 14% growth in its sales for the month of March 2016 on a YoY (year on year) basis. The company reported that it sold 6,06,542 units during the said month against 5,31,750 units in the corresponding month last year.

Coupled with this strong sales performance, the company also set yet another benchmark by exceeding the landmark of 6-lakh plus monthly sales thrice in a single financial year. The company had earlier sold 6,06,744 units in September 2015 and 6,39,802 units in October 2015.

For the entire financial year 2016, Hero MotoCorp sold 66,32,322 two wheelers as against 66,31,826 units in the previous fiscal.

Apart from the above developments, FY16 came in as a landmark year for the company. The company during the year launched its in-house developed products, commissioned its first overseas manufacturing facility and began operations at its world class centre of innovation and technology at Jaipur. All of these efforts can also prove out to be beneficial for the company in this new financial year. As Radhika Pandit, Managing Editor, ValuePro states in the result analysis report of the company (subscription required) ... 'Things should improve in 1HFY17 if monsoons are normal. The company intends to step up the pace of new product launches going forward. In this regard, the first two scooters developed by the company's in-house R&D team is a positive sign. On the capex front, the company will be investing in its R&D centre as well as the Gujarat plant.'

Hero MotoCorp, formerly Hero Honda, is the world's largest manufacturer of two-wheelers, based in India. The company sells products under the brand names such as Karizma ZMR, Splendor, Xtreme, Hunk, Impulse, Achiever, Ignitor, Glamour, Passion Pro, Maestro and Pleasure etc. Presently the stock of the company is trading up by 0.4%.

IT stocks are trading on a positive note with Infosys and Tech Mahindra witnessing maximum buying interest.

In another news update, HCL Technologies (HCL) has entered into an agreement to acquire all of the business of Geometric, except for the 58% stake that Geometric owns in the 3DPLM joint venture with Dassault Systemes.

For the consideration regarding this acquisition, HCL will issue 10 equity shares of Rs 2 each to Geometric shareholders for every 43 equity shares of Geometric as a part of the stock swap.

The acquisition is said to strengthen HCL's presence significantly in the PLM consulting as well as mechanical and manufacturing engineering space. It is also said to strengthen HCL's automotive and industrial practices.

HCL Technologies is a global technology company. It operates in three segments: Software services, Information Technology (IT) Infrastructure services and Business Process Outsourcing services. The above acquisition will aid to the sales growth of the company; however similar growth may not be seen on the bottom line.

To know our view on the stock of the company, you can read our result analysis report of the company here (subscription required).

Presently the stock HCL is trading up by 1.5%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Jan 24, 2018 11:47 AM