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Indian markets soar
Mon, 19 Oct 01:30 pm

After trading on a firm note during the morning session of the day, the Indian equity markets have firmed up further in the post noon trading session. Gains were led by stocks from pharma and oil & gas segments. Stocks from capital goods are, however, trading in the red.

The BSE-Sensex is trading up 161 points (0.6%) and the NSE-Nifty is trading up by 39 points (0.5%). The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.5% and 0.6% respectively. Gold prices, per 10 grams, are trading at Rs 26,944 levels. Silver price, per kilogram, is trading at Rs 36,939 levels. Crude oil is trading at Rs 3,101 per barrel. At the time of writing, the rupee stood at 64.81 to the US$.

Stocks in the mining space are trading on a mixed note with Ashapura Minechem and Hindustan Zinc leading the gainers. As per an article in Economic Times, India's coal imports fell 27% to 12.6 million tonnes in September as compared to the year-ago period on the back of surge in local output contributed mainly by Coal India. With unprecedented increase in total production by Coal India Ltd, imports of coal have come down for the third successive month. Reportedly, India is opening a mine a month as it races to double coal output by 2020.

Coal India is the largest coal producing company in the world based in terms of revenues. The company in its results for the first quarter of financial year ended March 2016 has posted a 6.5% growth in sales on a YoY basis. However, net profits for the same period witnessed a fall of 6.7% YoY. The company along with its subsidiaries has chalked out a roadmap for achieving 1 bn tonne of coal production by 2019-20. Stock of the company is trading marginally lower.

Automobile stocks are trading mixed with Escorts and Tube Investments leading the gains. According to a leading financial daily, Maruti Suzuki India (MSI), country's largest carmaker has launched an updated version of its multipurpose vehicle Ertiga. The launch has been made at an introductory price ranging between Rs 5.99 lakh and Rs 9.25 lakh. The model was first launched in 2012 and the company has so far cumulatively sold over 2.25 lakh units in the domestic market. The vehicle enjoys a market share of over 20% in the MPV segment and is available in petrol, diesel and CNG fuel options.

In addition, Maruti Suzuki is also set to launch its hatchback contender Baleno. The same is said to be sold via Maruti's Nexa premium dealerships, alongside cars like S-Cross and Ciaz. Its price is expected to start at Rs 5.10 lakh.

Radhika Pandit, our automobile analyst, recently released a detailed analysis of the company's latest results (subscription required) for the quarter ending June 2015. Here she explains the key performance drivers and various segments that contributed to the profitability for the company. Presently the stock of Maruti Suzuki is trading up by 0.3%.

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