Most of the automobile stocks are trading higher today. Escorts Ltd and Eicher motors are leading the gainers. As per a leading business daily, automobile major Mahindra and Mahindra (M&M) has entered into deal with snapdeal for selling the new variant of Scorpio. This is a new trend seen in e-commerce site in India. Snapdeal has started accepting pre bookings for Scorpio. Reportedly, the new version of Scorpio will be unveiled on September 25. And this attempt by M&M's to use of an online channel will be viewed as an endorsement of the potential of e-commerce sites to drive sales volumes. After prebooking the new Scorpio on Snapdeal by paying Rs 20,000, customers can go to a dealer to make the full payment and take delivery.
Majority of Indian pharma stocks are trading firm with Panacea Biotech and Piramal Enterprises being among the leading gainers in the pack. As per the financial daily, the national pharmaceutical pricing authority (NPPA) has capped the prices of 19 medicines and their 43 different drug packs, including anti-infectives, gastro-intestinal drugs and vaccines. This move is expected to impact various Indian and MNC pharma companies like; Ranbaxy, Cipla, Cadila, Lupin. And among the MNC pharma companies Pfizer, and Sanofi. The latest tranche of price control includes key medicines such as ciprofloxacin, cefotaxime, BCG vaccine and rifampicin. Recently, the NPPA had brought all diabetes and cardiac medicines under indirect price control. The regulator is likely to extend the move to other categories, such as oncology, soon.