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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Midcap & smallcap buck trend 
(Fri, 27 Sep 01:30 pm) 
 
Indian share markets continued to fall in the post-noon trading session. Markets are trading mixed with oil and gas, IT and auto stocks being the biggest gainers. However, banking, realty and metal stocks are the principal losers.

BSE-Sensex is down 101 points and NSE-Nifty is trading 29 points down. BSE Mid Cap is trading up 0.3% and BSE Small Cap index is trading up 0.4%. The rupee is trading at 61.8 to the US dollar.

Majority of automobile stocks are trading in the green, with Hero MotoCorp and Eicher Motors being the major gainers and Mahindra & Mahindra and Tata Motors among the few stocks trading in the red. As per a leading financial daily, Hero MotoCorp is planning to introduce over 15 new offerings by the end of FY14. A majority of the offerings will be launched in the December 2013 quarter that coincides with the festive season in India. The offerings include a revamped version of the high-end bike Karizma which has been re-designed and has a more powerful engine. This commercial production model has been co-jointly developed with US-based partner Erik Buell Racing. The company expects demand to be robust in the festive season on the back of good monsoon and recent RBI announcement. Since Hero MotoCorp ended its partnership with Honda in 2010, the company has been working towards developing its own technology as well expanding operations in the overseas markets. The stock is currently trading up by 2.3%.

Most of the Indian pharma stocks are trading in the green with Aurobindo pharma and Orchid chemicals among the leading gainers. As per the financial daily, Sun pharmaceuticals is expected to gain higher market share in Doxyrubicin sold in US. In US, other than Sun only Johnson and Johnson (J&J) supplies this drug under the brand Doxil. The said drug has faced shortage problems in past in the US market. Recently, J&J has once again announced about the shortage of the drug in US market. This is due to an interruption of supply from the company's own suppliers, Ben Venue Labs. Reportedly, from Oct 2013 onwards, the supply from J&J will come down which might give rise to shortage situation in US. In FY13, when J&J was facing manufacturing constraints, this drug had contributed around $100 m sales to Sun's business. The current shortage of this drug will help Sun pharma to fetch better market share. Sun pharma is trading up by 1.5%.

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