Backed by persistent buying activity across index heavyweights, Indian equity markets continued to trade in the green during the post noon trading session. Barring stocks from the consumer durables sector, all the sectoral indices are trading in the positive. Stocks from the oil & gas and FMCG sectors are witnessing maximum buying activity.
Majority of the automobile stocks are trading in the green with Escorts and Tube Investments being the major gainers. As per a leading financial daily, Bajaj Auto will re-vamp its entire three-wheeler portfolio in FY14. This is the biggest restructuring exercise undertaken by the company. As per Bajaj Auto, it has a market share of 85-90% in petrol and alternative fuels other than diesel models. The company exports 55% of its three-wheelers to more than 23 countries. In the domestic markets, the company expects to sell 300,000 three wheeler units in FY14, up from 226,000 units sold last year. The company also expects to launch its quadricycle during October-March 2014, once the government approval is secured. Bajaj Auto stock is trading marginally up.
Most of the telecom stocks are trading in the green with the major gainers being AGC Networks and Tata Communications. As per a financial daily, the leading telecom companies viz., Vodafone, Bharti Airtel and Idea Cellular have launched free incoming on roaming. These companies have launched new offers enabling users to avail free roaming services, while travelling to various parts of the country. The offers are available in both on per day recharges and monthly and semi-annual recharges. The service is available to both prepaid and post paid subscribers. While Bharti Airtel and Idea Cellular had launched free incoming call offers a couple of days back, today Vodafone has also launched similar offers.