Barring Japan (down 0.1%) and Korea (down 0.4%), the Asian stock markets have opened the day on a positive note with the markets in Indonesia (up 1.0%) and Hong Kong (up 0.8%) leading the gains. The Indian share markets have opened the day on a firm note. All sectoral indices are trading in the green with realty and capital goods sector leading the gains.
Engineering stocks have opened the day mainly in the green with Bharat Heavy Electricals Ltd and Finolex Cables Ltd leading the gains. As per a leading financial daily, BHEL has bagged an EPC contract (Engineering, Procurement and Construction) worth Rs 78 bn for setting up a 1,320 MW thermal power project for Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO). The order is for setting up a 2x660 MW coal-fired thermal power project at Ennore Special Economic Zone in Tamil Nadu. The company will work on designing, engineering, manufacturing, supplying, construction, erection, testing and commissioning for the EPC Package.
Auto stocks have mainly opened the day on a firm note with Tata Motors Ltd and TVS Motors Ltd leading the gains. The nation's leading two-wheeler maker Hero MotoCorp has recently launched two new bikes in the market to make the most of the festive season. One of these is the 100 cc Splendor Pro Classic, which has a cafe racer styling and is priced at Rs 48,650 (ex-showroom Delhi). The other is 100 cc on-road-off-road bike Passion Pro TR, priced at Rs 51,550 (ex-showroom Delhi). As per the management, post kicking off the festive season with sales of over 6 lakh vehicles in September, the company has lined up a range of new products, including refreshes and variants.