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Indian markets open flat
Fri, 20 Nov 09:30 am

The major Asian stock markets have opened the day on a mixed note with stock markets in Singapore (down 0.5%) and Taiwan (down 0.3%) being the top losers. Major stock indices in Europe ended their previous session in green. However benchmark indices in US ended marginally down. The rupee is trading at 66.11 per US dollar.

Indian stock markets too have opened the day on a flattish note. BSE-Sensex is trading marginally higher by 3 points (up 0.01%) and NSE-Nifty is trading lower by 5 points (down 0.06%). However, both S&P BSE Midcap and S&P BSE Smallcap have surged upwards and are trading higher by 0.4% and 0.3% respectively. Major sectoral indices have opened the day on a mixed note. Stocks from capital goods & engineering and fast moving consumer goods (FMCG) sector are witnessing maximum buying interest. However stocks from telecommunication sector are witnessing selling pressure

As per an article in leading financial daily, Britannia Industries is set to open a new research & development (R&D) center. The new R&D center will cost approximately Rs 650 m.

The company intends to enter into premium biscuits and cookies segment. According to management it believes, the scope for premium cookies and biscuits segment is vast in India. Further, company plans to add premium products every year to drive the growth for them.

The company also intends to expand its product portfolio in the dairy segment. The managing director of the company stated that the dairy products industry is worth Rs 100 bn. Currently, company is doing business worth Rs 4 bn in this segment. And hence this segment offers huge opportunity to the company to expand its product portfolio in this segment.

The company is also eyeing higher revenues from the overseas market. The company wants its international segment to contribute to as much as one-fifth of its overall revenue in a span of five year. Currently, revenue from overseas business accounts for 6% of the total turnover of the company.

The scrip of Britannia Industries is trading up by 0.5%.

Tata Motor's is set to launch its new passenger vehicle named 'Tata Kite'. The car has a hatchback as well as sedan version.

The base model of the sedan version is priced at very low levels. Reportedly, sedan could be priced at as low as Rs 4 lakh. This could possibly open up a new segment under the compact sedan segment. The company's compact sedan segment comprises of cars such as Maruti Swift Dzire and Ford Figo. However these cars are priced relatively higher as compared to the price at which Kite is expected to be launched.

Over the last few years, Tata Motors had lost considerable market share in the passenger vehicles space on account of fierce competition and lack of new product launches. In the last one year, though, Tata Motors has been looking to correct this and focus more on launching new models.

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Mar 16, 2018 (Close)