Asian indices ended the day on a firm note with China, Hong Kong and Japan closing higher by about 1.6%, 0.4% and 0.9% respectively. The rupee was trading at Rs 61.52 to the dollar at the time of writing.
Stocks of two-wheeler companiesBajaj Auto, TVS Motors and Hero MotoCorp all ended the day on a firm note. As reported in a leading business daily, Hero MotoCorp has finished testing its new engines and will be launching them in selected products next year. These are believed to be engines having capacities of 100 cc, 110 cc and 250 cc. It was not long ago when the company unveiled 15 new products that it plans on launching over a period of six months. These include a refreshed version of existing models. In addition to this, the company has targeted launching additional 35 products over a period three years. While Hero does have the rights to source engines from Honda till 2017, it seems the company is looking to make a full transition to using its own in house developed engines by 2016. For the same the company has put together an R&D team to evaluate consumer requirements in the home market coupled with technical tie ups with other global players related to designs and engines, amongst others. The company has invested Rs 4.5 bn towards an R&D centre near Jaipur, Rajasthan which is expected to be commissioned in early 2015. The stock of Hero MotoCorp ended flat.