FMCG stocks are trading in the green led by Bata India and Emami Limited. According to a leading financial daily, Dabur India is bullish on its air freshener brand Odonil and expects the brand to grow at 35% this year. The home and air freshening market is relatively new in India, with the penetration level being as low as 4%. Odonil as a brand has been growing more than 30% year on year. Odonil, which was earlier available in block and room freshener spray formats, has pilot-launched this gel in the Andhra Pradesh market.
Steel stocks are trading strong led by Tayo Rolls and Tata Steel. As per a leading daily, Tata Steel has entered into a technology collaboration with SMS Mevac, a technology company. This is to design a new production facility for high-purity vacuum induction melted (VIM) steel in Stocksbridge, South Yorkshire. This steel will be used for the aerospace industry typically in aircraft engine transmissions and bearings. It is also used to manufacture aircraft structural and undercarriage components. The process of making VIM steel is quite a complex one and involves a number of steps including melting steel and alloys, extracting trace elements and casting the prefixed liquid steel into moulds.