Asian stock markets have opened the day on a mixed note. Stock market in Hong Kong (up 1.3%), Indonesia (up 1%) and Singapore (up 0.7%) is in the green while Malaysia (down 0.8%) and China (down 0.4%) is in the red. The Indian stock market
have opened the day on a firm note. Stocks in the Realty and Metal
space are leading the gains.
is trading up by 84 points (0.5%) and the NSE-Nifty
is up by around 20 points (0.4%). BSE Midcap and BSE Small cap stocks have opened on a firm note, with the BSE Mid Cap indices up by 0.5% and BSE Small Cap
up by 0.6%. The rupee is trading at 52.14 to the US dollar.
Pharma stocks have opened the day on a weak note with Lupin and Ranbaxy leading the losses. Indian pharmaceutical player, Lupin is expecting 80% jump in its revenues to from US$ 165 m to $300 m from the Japan market over next two years. This comes after Lupin further strengthened its position on back of its enhanced presence after it acquired I'rom Pharmaceutical from I'rom Holdings Co Ltd. Apart from US and India, Japan is the priority market for Lupin. Currently, Lupin owns 2 companies in Japan-Kyowa and I'rom Pharmaceuticals
Auto Stocks have opened the day on a weak note with Maruti and Mahindra & Mahindra in the red. Maruti Suzuki's car, Swift, may see expansion to 3 body styles instead of 2 currently. The company is trying to maximize returns from its existing platform by adjusting itself with the current excise duty structure. The new version will most likely be named Swift 3.99 and will be Maruti's cheapest sedan. This will be sold along with existing Swift Dzire and will be offered at a lower price. The discount will be in the range of 50,000 when compared to Swift Dzire. The launch of this 4 metre Sedan will be done in February. Currently trial productions are in place.