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The BSE-Sensex is trading up 206 points (up 0.8%) and the NSE-Nifty is trading up 67 points (up 0.8%). The S&P BSE Midcap index is trading up by 0.8% while the S&P BSE Smallcap index is trading up by nearly 0.7%. The rupee is trading at 64.84 to the US$.
Automobile stocks are trading on a positive note with Tata Motors and Maruti Suzuki leading the gains. As per a leading financial daily, Mahindra & Mahindra (M&M) has reported that it is aiming to gain a respectable market share in heavy commercial vehicle (HCV) space and will further expand its presence in the utility vehicles segment.
For the HCV expansion, the company said that it is aiming to bring its market share at 5-6% as against the current 2.7%. Moving on to utility vehicles segment, the company is pushing up for higher market share with the help of new launches lined up. With that, the company is going to launch five more vehicles in the automotive segment in the current financial year.
Further, with its inability to sell enough electric cars in the domestic market, the company has decided to export the same from March-April, 2016 to the UK. Presently, the scrip of Mahindra & Mahindra is trading up by about 1.2%.
As per an article in Economic Times, Zee Entertainment Enterprises Ltd has posted its results for the quarter ended September 30, 2015. The company witnessed a rise in its net profit by 8.5% for the quarter on a YoY basis. Revenues for the company grew 24% YoY to Rs 11.18 billion. The advertising revenue for the quarter was at Rs 8.43 billion, recording a growth of 35% YoY. Subscription revenue showed 13% growth at Rs 4.79 billion.
The company after the results stated that it is endeavoring to further enhance its offerings and is ahead of the market in delivering innovative and high quality entertainment to its viewers across consumption platforms. Zee is the leading content player in the Indian TV industry offering maximum hours of content in India. Stock of the company is trading up by about 6%.
The company operates in the media sector. We have written a detailed the analysis for this sector. It points out the developments that have taken place so far and the future prospects of the sector.
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