Barring China (down 0.5%), most of the major Asian stock markets have opened the day on a firm note with stock markets in Singapore (up 0.5%) and Japan (up 0.4%) leading the gains. The Indian share markets have opened the day on a firm note. Barring the metal and realty indices, all sectoral indices are trading firm with banking and pharma indices leading the gains.
Auto sector stocks have mainly opened the day on a positive note with Maharashtra Scooters and Force Motors leading the gains. As per a leading financial daily, Maruti Suzuki is looking forward to launch light commercial vehicles (LCV) in the coming year. Reportedly, the company is expecting the sales of the vehicles to increase on the back of economic recovery in the country. This in turn will help in attaining its sales target of 3 million units from the current sales of 1.2 million units. As the company is working towards its expansion plans, it is looking to increase the number of new model launches in all the three categories viz. diesel, petrol and CNG. Further the company will also take necessary steps in training people and address the infrastructure needs. Over and above, the company is also working towards the R&D needs in order to achive its sales target of 3 million cars. The company is looking forward to set up a plant in Gujarat.
Telecom stocks have opened the day on a firm note with ADC India and Himachal Futuristic leading the gains. As per a leading financial daily, Idea Cellular has launched mobile wallet service in Mumbai during the month of July 2014. This service allows customers to do various transactions like mobile recharge, bill payments and money transfers. Reportedly, its competitors viz. Bharti Airtel, Tata Teleservices and Vodafone are already offering this service. Going forward the company is looking to expand other services such as shopping and ticketing transactions. Further, the company will also launch this service in other parts of the country.