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Engineering & metal bolster markets
Fri, 31 Oct 01:30 pm

Indian share markets continued to surge in the post-noon trading session. Barring consumer durable, all the sectoral indices are trading in the green with engineering and metals stocks being the biggest gainers.

BSE-Sensex is up 402 points and NSE-Nifty is trading 117 up. BSE Mid Cap is trading 1.2% up and BSE Small Cap index is trading up by 0.9%. The rupee is trading at 61.35 to the US dollar.

Most of the FMCG stocks are trading in the green led by <>Marico and Bata India. Hindustan Unilever and Godrej Consumer Products are among the few stocks trading in the red. As per a leading financial daily, Dabur will be launching Chyawanprash in biscuit and snack bars with an aim to modernise and widen the reach of its Chywanprash brand. Reportedly, Dabur is the market leader in the Rs 5.5 bn chywanprash category with 65% market share followed by Emami. The category has been clocking growth of 10-12% per annum but its brown sticky appearance has not been able to appeal to the contemporary consumer. The company wants to overcome this limitation by launching it in the form of biscuits and snack bars. Apart from Dabur Chywanprash, the company plans to modernise its other brands such as Hajmola digestive candy and Pudin Hara. Dabur stock is currently trading up 0.3%.

All automobiles stocks are trading in the green today. Gainers are being led by Maruti Suzuki and Hero MotoCorp. As per a leading business daily, Tata Motors acquired Jaguar Land Rover (JLR) is planning to open its first engine plant in UK at a cost of 500 m pound. As per the company, in-house manufacturing of engines will increase the company's competitiveness and increase flexibility to meet customer's needs. In-house manufacturing and design of engines in general provides strategic control competitiveness for auto manufacturers as it is very important component of automobiles. The stock of Tata Motors is trading up by 1.4% at the time of writing.

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