Asian shares are trading on a positive note today. The Nikkei 225 is up 0.2%, while the Hang Seng is up 0.6%. The Shanghai Composite is trading up by 0.3%.
Back home, India share markets have opened the day on a positive note. The BSE Sensex is trading up by 179 points (up 0.5%) while the NSE Nifty is trading up by 56 points (up 0.5%). The BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index has opened the day up by 0.5%.
Sectoral indices have opened the day on a positive note with IT stocks and realty stocks witnessing maximum buying interest.
The rupee is trading at 69.65 to the US dollar.
In the news from the automobiles space, Tata Motors' jaguar land rover (JLR) is reportedly reducing the workforce at the plant in Solihull, central England.
About 500 of the factory's 1,600-strong workforce could be affected at any one time through a two-week period.
The company also reported that the external environment remains challenging and decisive actions are taken to achieve the necessary operational efficiencies to safeguard long term success.
In other news, Jaguar Land Rover (JLR) has also won the backing of the UK government's 25-million Pounds grant intended to accelerate the development of innovative low-carbon vehicle technologies.
The funding will be provided through the UK's Advanced Propulsion Centre (APC) enabling JLR and others to drive the development of low-carbon propulsion technologies and their supply chains.
Tata Motors share price is presently trading down by 2.2%
To know more about the company, you can access to Tata Motors Q2FY19 result analysis and Tata Motors stock analysis on our website.
Speaking of blue-chip automobile stocks, one out of every three household in India is a buyer of their products. They own some of the cult brands in Indian automobile space.
They have formidable R&D teams. They have been through several economic cycles over decades. Few have even visited near-bankruptcy in the past and come out successful.
Yet, some of the biggest passenger car, commercial vehicle, and two-wheeler companies in India have seen a huge dent in valuations in recent times.
Tanushree Banerjee, Co-head of Research at Equitymaster believes, this could be the opportunity long term investors were waiting for.
Moving on to the news from the pharma space Sun Pharma share price is witnessing buying interest today.
Reportedly, the company has disclosed all information under Section 30 of market regulators (LODR) rules, in response to queries raised by exchanges.
Sun pharma share price is presently trading up by 0.9%.
Speaking of pharma sector, note that the BSE Healthcare Index has been on a roller coaster ride in the past few years. The period from 2012 to 2015 saw the index go up more than three times.
As we wrote in one of our editions of The 5 Minute WrapUp...
We believe that pharma companies that invest in creating a pipeline of complex generics or building competencies in alternative dosage forms are better equipped to tackle the changing dynamics in the US generics market as well as in the overall industry.
To know more on what moved the Indian stock markets today, you can check out the most recent share market updates here.
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