The automobile stocks are trading mixed with Eicher Motor being the biggest gainer and TVS Motors being the biggest loser. Industry body, Society of Indian Automobile Manufacturers (SIAM) has projected passenger car sales to grow by 10-12% in FY13 on the back of moderating interest rates. High interest rates had led to a tepid growth of 4.7% in passenger car sales in 2011-12. SIAM expects sales of motorcycles and heavy commercial vehicles to clock growths of 11-13% and 9-11%, respectively in FY13. Motorcycles offtake had grown by 12% whereas sales of heavy commercial vehicles surged by 18.2% in FY12.
Majority of the aluminium stocks are trading mixed. As per a leading financial daily, National Aluminium Company Ltd. (NALCO) is planning to set up a nuclear power plant in a 49:51 joint collaboration with Nuclear Power Corporation of India (NPCIL). The plant is expected to have a capacity of 1,500 MW (megawatts). Both the companies have already been operating unit 3 and unit 4 of Kakarapar Atomic Power Station (KAPS) in Gujarat. Each of the units has a capacity of 700 MW set up at an investment of Rs 120 bn. The plant is likely to be set up in the any one of the states of West Bengal, Orissa and Rajasthan. NALCO stock is up 1.6%.