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Indian Indices Open Firm
Tue, 6 Sep 09:30 am

Major Asian stock markets have opened the day on positive note with the stock markets in Taiwan and Singapore are trading higher by 0.8% and 1% respectively. Benchmark indices in Europe ended their previous session in red. While, benchmark indices in US ended their previous session on Friday on a positive note. The rupee is trading at 66.80 per US$.

Indian stock markets have opened the day on a strong note. The BSE Sensex is trading higher by 224 points (up 0.8%) and the NSE Nifty is trading higher by 60 points (up 0.7%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.7% and 0.6% respectively.

Major sectoral indices have opened the day on a positive note. Stocks from automobile and banking sector are witnessing maximum buying interest.

As per an article in Livemint, Hero MotoCorp has developed three motorcycles for the African market as it seeks to establish itself in the overseas market.

The company has named the motorcycle as Dawn. This bike has three variants powered by 100,125 and 150 Cubic Capacity (CC) engines. The market for two-wheelers is huge in the African continent. Provided, the bike gains traction it would open up a huge opportunity for the company.

Currently the company is targeting the Nigerian market in the African geography. However, a point worth noting is that Nigeria is facing foreign exchange shortages on the back of falling commodity prices. This in-turn has led them to import less which has impacted the sales of many automobile companies who export in this part of the geography.

Going forward it will be interesting to see how the company is able to replicate its success in the overseas market. The stock is trading higher by 0.8%.

In another news update, Maruti Suzuki is set to launch its very first light commercial vehicle (LCV) across the country.

The LCV is named as Super Carry and will be launched first in Ahmedabad, Ludhiana, Kolkata, Haryana and Rajasthan.

Like Nexa a separate delivery channel would be created for this LCV. Presently, the vehicle is being manufactured at its Gurgaon facility and the company will further ramp up production provided the response is good.

The LCV segment is dominated by Tata motor's ACE, Mahindra's JEETO and many other players.

The company is a market leader in the passenger vehicle segment and now as it enters the commercial vehicle segment space; it will be interesting to see how it performs how the company fares on this front.

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