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Indian share markets remain volatile
Mon, 3 Nov 01:30 pm

Indian share markets continued to remain volatile in the post-noon trading session. While stocks from Auto and consumer durables witnessed the maximum selling pressures, realty and capital goods' stocks remained in good stead.

BSE-Sensex is down 35 points and NSE-Nifty is trading lower by 10 points. BSE Mid Cap is trading 0.8% up and BSE Small Cap index is trading up by 1.0%. The rupee is trading at 61.35 to the US dollar.

Most of the food & tobacco stocks are trading in the green led by Golden Tobacco and Sterling Biotech. United Spirits and Agro Tech Foods are among the few stocks trading in the red. As per a leading financial daily, Tata Global Beverages Ltd (TGBL)has recently launched a new variant of green tea 'Tata Tea Acti Green' to tap the smaller cities and towns. The launched product is offered in small packaged quantities and is priced accordingly to target first-time users. According to the company, the total tea market is valued at Rs 180-200 bn out of which green tea has a 1.5% market share of around Rs 2.5 bn. The green tea market is growing at a fast clip of 50% and is likely to reach Rs 4 bn by FY15. Presently TGBL is a leading player in the domestic tea industry with a 20% market share. The new launch will further consolidate the company's market share. The company also sells green tea under the acquired Tetley brand that caters to the high-end customers in big cities. TGBL stock is trading up 1.7% today.

Barring few such as TVS Motors and Mah. Scooters that top the gainers list, most of the automobiles stocks are trading in the red today. M&M and Hero Motocorp are leading the pack of losers. As per a leading business daily, despite being a festive month, October witnessed weaker-than expected sales by leading automobile companies. The total sales of Maruti Suzuki stood at 103,973 units, down 1.1% from 105,087 units in October last year. Sales of Hero MotoCorp Ltd fell 8% to 575,056 units as compared with 625,420 a year ago. Mahindra and Mahindra Ltd too reported a 15.7% decline in its sales to 40,274 units, while Tata Motors Ltd posted a 17% decline in sales to 38,760 units. Bajaj Auto reported sales of 386,017 units in October compared with 399,450 units in September. Car sales, overall, declined by marginal 1% in September to 1.5 mn units.

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