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Automobile Stocks in Demand
Mon, 28 Dec 11:30 am

After opening the day on strong note, Indian equity markets have continued to trade in a similar fashion. Major sectoral indices are trading on a positive note. Stocks in automobile and oil & gas sector are witnessing maximum buying interest.

The BSE Sensex is trading higher by 112 points and NSE Nifty is trading higher by 33 points. Both BSE Mid Cap and BSE Small Cap have surged upwards and are trading higher by 0.4% and 0.6% respectively. The rupee is trading at 66.20 to the US dollar.

As per an article in leading financial daily, Maruti Suzuki has preponed the launch of its new generation Swift Dzire sedan by almost a year. The car scheduled to be launched in fiscal year 2018-19, will now be launched in fiscal year 2017-18. The decision comes as the management intends to protect its turf amidst intense competition from the rival firms. Rival firms such as Tata Motors 'Zica' and Volswagens 'Polo' are already ready with their new models. This further puts pressure on the company to launch the new model as soon as possible. The production of the new model will take place from the company's new plant in Gujarat. Recently, minority shareholders gave green signal for Maruti's Gujarat plant for a contract manufacturing agreement for production and sale of vehicles between Maruti and its parent company Suzuki. Further, Maruti has lined up the launch of 15 new models till 2020 which will help the company to achieve its aim of doubling its sales to two million units by 2020. The stock of Maruti Suzuki is trading up by 0.1%.

As per an article in leading financial daily, ITC is set to launch 'Savlon Double Strength' soap which will directly compete against the likes of Hindustan Unilever Ltd's brand Lifebuoy. Lifebuoy's market share is estimated to be around 15%. ITC intends to use its cigarette distribution network to push both Savlon soap and antiseptic liquid into rural areas. To add to this, company is also looking to tap local doctors and chemists to push Savlon into rural households. Further, company plans to launch a 'modernised' handwash range under the Savlon brand. Experts state that a right pricing strategy will help the company to take on its rival 'Lifebuoy' in the rural markets. The stock of ITC is trading up by 0.9%.

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