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After trading on a positive note during the morning session, the Indian Indices have maintained their positive bias by trading firm in the post noon trading session too. Most of the sectoral indices are trading positively with stocks from the banking and FMCG sectors leading the gainers. However, capital goods stocks are witnessing maximum selling pressure.
The BSE-Sensex is trading up by 177 points (up 0.7%) and the NSE-Nifty is trading up by 44 points (up 0.5%). The S&P BSE Midcap index is trading flat while the S&P BSE Smallcap index is trading up by 0.1%. Gold prices, per 10 grams, are trading at Rs 26,974 levels. Silver price, per kilogram is trading at Rs 37,219 levels. Crude oil is trading at Rs 2,982 per barrel. The rupee is trading at 64.88 to the US$.
Stocks in the automobile space are trading on a mixed note with Maharashtra Scooters and Force Motors leading the gains. According to a leading financial daily, Bajaj Auto is set to launch four new motorcycles in the domestic market. This is in undertaken in line with its plan to capture over 22% share in the domestic motorcycle segment by the end of this fiscal.
To initiate this, the company will be expanding its Avenger range of cruiser bikes through introduction of three new models this month. Besides, it is going to launch a completely new model in the fourth quarter of this fiscal. The same will be in the mid-segment of the motorcycle market.
In April-September of this fiscal, Bajaj Auto sold 9,55,148 units. This was a marginal increase from 9,52,492 units a year ago. Total industry domestic sales motorcycles sales during the period stood at 53,64,391 units, down 4.06% on a YoY basis.
Scrip of Bajaj Auto is trading up by around 0.6%.
Pharma stocks are trading firm with Piramal Enterprises and Panacea Biotech witnessing maximum buying interest. As per an article in Economic Times, pharma firm Cadila Healthcare has announced its results for the second quarter ended September 30, 2015-16. The company posted a robust 40.56% YoY jump in its consolidated net profits to Rs 3,909 million.
Total income for the company stood at Rs 24,831 million for the concerned period as against Rs 21,226 million reported in the corresponding period a year ago. Further, standalone net profit stood at Rs 6,140 million for the quarter as compared to Rs 3,656 million in the year-ago period.
As reported, the consolidated results included a consideration of Rs 200.3 million (US$ 3 million) received by Zydus Pharmaceuticals (USA) Inc, a wholly owned subsidiary of the company. The same funds were received on account of sale and transfer of ownership interest in certain Abbreviated New Drug Applications (ANDAs) for generic drug products.
Presently the stock of the company is trading up by 2.3%.
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