The major Asian stock markets have opened the day on mixed note with Japan (up 2.5%) and Hong Kong (up 1.1%), leading the gainers. However, stock markets in China (down 0.8%) and Korea (down 0.3%) have opened weak. The Indian stock markets have opened the day on a positive note. All the sectoral indices have opened in green, with realty and consumer durables stocks being the leading gainers.
Majority of stocks in automobile sector have opened firm, with TVS motors and Eicher motors being the leading gainers. As per the financial daily, Tata motors is in process of developing vehicles for the defence space. These vehicles can be used for carrying weapons. Reportedly, as per A B Lall, who is plant head of Jamshedpur unit in Tata Motors said, the company has already tested the vehicles. However it will take some more time to do the quality tests on the vehicle proposed for the defence. Further, Mr Lall also added that the company has been supplying vehicles to the defence sector for long, but the models were mainly troop carriers. Further, the company had bagged an order for around 585 units of its 'Minusma' vehicles from the United Nations as part of its support mission in East and North Africa.
Majority of stocks in Indian pharma, have opened the day on a positive note, with Panacea Biotech and Dishman pharmaceuticals being the leading gainers. As per the financial daily, the steep fall in Russia's currency - Rouble, is expected to impact couple of Indian pharma players. Among the various companies, Dr Reddy's and Glenmark are expected to get impacted the most. Russia is one of the fastest growing markets for Dr Reddy's. Plus on the margin front too, the market happens to be one of the higher margin geographies for the company. The sinking Rouble is expected to have negative impact on the company.