Indian share markets pared early gains but remained firm in the post-noon trading session. Barring energy, FMCG and auto, all the stocks are trading in the green. Metal and IT stocks are the biggest gainers today.
Most of the automobile stocks are trading in the green led by Maharashtra Scooters and Tube Investments. Ashok Leyland and Mahindra & Mahindra are among the few stocks trading in the red. As per a leading financial daily, Eicher Motors is planning to scale up capacity of Royal Enfield motorcycles by 70-75% to 3 lakh units in FY15. The company has been witnessing huge demand for its products after the launch of various models including the 'Classic' range. The company is contemplating to ramp up production at two of its facilities besides setting up a third plant within 10 kms of the Oragadam facility. To set up the facility, the company has acquired 50 acres of land at a cost of Rs 570 m. Eicher Motor stock is trading up by 0.6% presently.
Majority of the mining stocks are trading in the green led by Hindustan Zinc and MOIL. However MMTC and Gujarat NRE Coke are trading in the red. As per a leading financial daily, the Finance Minister has said that the commercial mining of coal will be allowed after allocation of mines to public sector companies and auction of mines to specific end-users. The government had passed an ordinance last month for auctioning off 204 coal blocks after their allocations were cancelled by the Supreme Court in September. The government has not given a timeline for allowing commercial mining by private firms.