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Indian equity markets trade strong
Tue, 20 Nov 11:30 am

Indian equity markets continued to trade strong over the last two hours of trade. Auto and FMCG stocks witnessed maximum buying interest while consumer durables and IT stocks witnessed maximum selling pressure.

The Sensex today is up by 64 points, while the NSE-Nifty today is up by 19 points. BSE Mid Cap index and the BSE Small Cap index are up by 0.24% and 0.18% respectively. The rupee is trading at 54.86 to the US dollar.

FMCG stocks are trading strong led by Bata India and Colgate. According to a leading financial daily, Godrej consumer (GCPL) has launched single-use hair colour packs at Rs 30, far lower than the current price of similar products in the market place. The launch has happened under the Expert brand name in the creme segment, one of the four lines in GCPL's hair colour portfolio. The company believes that cutting prices while retaining value is the best way for GCPL to move ahead in hair colour, given the stiff competition from local and foreign players. GCPL derives nearly 15% of its domestic revenues from hair colour, the others being house insecticides and personal wash, 45% and 25%, respectively.

Retail stocks are trading in the green led by Trent Limited and Shoppers Stop. According to a leading financial daily, Titan Industries is targeting 25% growth in turnover this current financial year. This is due to an overall growth in the watches and jewellery business. Out of the 50 m pieces watch market in India, Titan holds a majority share with 15 m pieces. Moreover, the company is now looking to diversify into various other areas. The company is looking to diversify into un-organised sectors targeting the youth and women. The firm is exploring opportunities to foray into helmets, fragrances, shoes and ladies footwear. Helmets would be out in another six to eight months. Meanwhile, it plans to invest Rs 2.2 bn for retail and manufacturing expansion during the current financial year. This includes expansion of greenfield projects at Hosur and Coimbatore in Tamil Nadu. Each of these projects will be about Rs 500 - 600 m.

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