The major Asian stock markets have opened the day on a positive note with markets in Japan (up 0.4%) and Hong Kong (up 0.1%) leading the gains. However, stock market in China (down 0.2%) is trading in the red. Stock markets in US and Europe closed their session on a positive note.
Stocks in the automobile sector have opened the day on a mixed note. As per leading financial times, automotive major Mahindra and Mahindra (M&M) has launched its new small commercial vehicle Jeeto. The launch, which has several variants, was made from its Zaheerabad manufacturing plant in Telengana. Jeeto is the first product in its category with a modular range of 8 mini trucks to cater to various needs of sub-one tonne segment. It is priced at Rs 2.32 lakh and is available in S, L and X series to cater to mini truck, micro truck and 3-wheeler customers. Stock of M&M has opened the day on a negative note.
As per a financial daily, Tata Power Delhi Distribution (TPDDL), a joint venture of Tata Power has signed a memorandum of understanding (MOU) with Cluster Innovation Centre University of Delhi. This is to jointly commence research and develop projects in the area of electricity distribution of technology. TPDDL is a front runner in technologies and innovation in the field of power distribution. For the fourth quarter of 2015, Tata Power had reported a consolidated net profit of Rs 1.6 bn as against a loss of Rs 1.4 bn in the same period last year. Stock of Tata Power has opened the day in red.