Majority of the automobile stocks are trading in the green led by Eicher Motor and Tube Investments. As per a leading financial daily Mahindra & Mahindra has launched a 110 cc scooter Gusto through its group company, Mahindra Two Wheelers. This is the first product to be developed independently after the acquisition of Kinetic Motors six years ago. Mahindra Two Wheelers made investments to the tune of Rs 650 m for product development. The vehicle has been launched at an introductory price of Rs 43,000 for the Dx variant and Rs 47,000 (ex-showroom Delhi) for the top-end Vx variant. The vehicle has initially been launched in the northern and western parts of the country and would be rolled out in a phased manner in the rest of the country over the next few months. Mahindra & Mahindra stock is trading down marginally.
Most of the engineering stocks are trading in the green with Blue Star and Shanthi Gears being the biggest gainers whereas Suzlon Energy and Elgi Equipments are trading in the red. As per a leading financial daily, ABB India has bagged a Rs 1.7 bn order from Power Grid Company of Bangladesh. The order is for the supply of 132/33kV turnkey substations. ABB will also aid in expansion of Power Grid Company's other six substations. The project scope includes design, supply, installation and commissioning of the substations.