Indian equity markets continued to trade flat over the previous two hours of trade. Metal and Auto stocks witnessed maximum buying interest, while FMCG and IT stocks witnessed maximum selling pressure.
Hotel stocks are trading weak led by Country Club and EIH Limited. According to a leading financial daily, Vivanta by Taj Hotels and Resorts, owned and managed by Indian Hotel Company Limited (IHCL) has expanded its network by adding a new property in Karnataka's hill station - Madikeri. This hotel is the 25th property in the Vivanta portfolio since the brand was launched in 2010. It is located at an altitude of 4,000 ft, within 180 acres of subtropical rainforest. The new hotel has 63 rooms and villas and presidential Nirvana Suite. Vivanta by Taj - Madikeri, Coorg is the 4th Vivanta Hotel to be launched in 2012.
Auto stocks are trading in the green led by Maruti Suzuki and Tube Investments. According to a leading financial daily, Mahindra and Mahindra (M&M) will start producing tractors at its new production facility at Zaheerabad in Medak district of Andhra Pradesh. For this, M&M is investing Rs 3 bn and targeting an annual production of 90,000 units. Presently too, M&M manufactures vehicles at an automobile plant at Zaheerabad. It makes products like UV (Maxx), 3-wheelers (Champion Alfa), light commercial vehicles (LCV) and buses here. The plant has a capacity of manufacturing 218 vehicles per day.