Most of the software stocks are trading in the red with Wipro (WPRO) and Infosys leading the pack of losers. Wipro has recently declared its 4QFY13 results. As per a leading financial daily, the disappointed guidance for the 1QFY14 and subdued performance in the company's IT segment during 4QFY13 has led to a correction in its stock price. Total revenues (in rupee terms) for the quarter grew by 12% YoY, however total sales from continuing business operations were up by 13% YoY. The company's total net income grew by 17% and for continuing operations the net income growth was up 13%, for the said quarter. During the quarter, the IT service segment witnessed growth of 13% YoY, however in dollar terms growth was 3.2% YoY. The company has also declared final dividend at Rs 5 per share, taking the total dividend for the year to Rs 7 per share. The stock of Wipro was trading down by 10%.
Majority of the automobile stocks are trading in the green with Eicher Motors and Maharashtra Scooters being the biggest gainers. However, Mahindra & Mahindra and Force Motors are trading weak. As per a leading financial daily, Tata Motors (TELCO) has been witnessing erosion in its market share in the medium & heavy commercial vehicle segment (M&HCV) in the past four years as a result of rising competition. As per data from Society of Indian Automobile Manufacturers (SIAM), Tata Motors saw its share in the truck segment slump to 56.6% in FY13 as against 62.2% in FY12. The company's truck sales fell by a steeper 33% as compared to 26% fall in the overall truck sales in FY13. As a result its market share in the M&HCV segment fell to 53.4% in FY13 from 59.3% in the previous year. However companies like VE Commercial Vehicles, an equal joint venture company of Eicher Motors and the Volvo Group, and Ashok Leyland have gained market share aided by new launches and expansion. Competition has further increased in the commercial vehicle industry with the entry of new players such as Mahindra Navistar and Daimler India Commercial Vehicles. Tata Motors stock is currently up by 1.2%.