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The Indian Indices have recovered yesterday's losses and have managed to trade in the green today. Sectoral indices are trading on a positive note with stocks from the IT, FMCG and energy sectors leading the gains. In yesterday's The 5 Minute WrapUp, we shared our views about the crash in China and also how investors in India can stay safe from this volatility. You can read it here.
The BSE Sensex is trading up 105 points (up 0.4%) and the NSE Nifty is trading up 30 points (up 0.4%). The BSE Mid Cap index is trading up by 0.8% while the BSE Small Cap index is trading up 0.9%. The rupee is trading at 66.66 to the US$.
Majority of the automobile stocks are trading on a firm note with Escorts and Tata Motors witnessing maximum buying interest. As per a leading financial daily, Maruti Suzuki has launched auto gearshift (AGS) technology in the top-end diesel version DZire sedan. The same is tagged at Rs 8.39 lakh (ex-showroom). With this launch, the DZire becomes the first diesel car, and the fourth model in the company's portfolio, to be offered with AGS technology.
Maruti Suzuki had introduced the AGS technology in India with the Celerio. Presently, the company is offering the technology in Alto K 10 and WagonR as well.
Maruti Suzuki has sold over 1.2 million units of DZire until date. This makes it the only sedan in India to cross a million units sales mark. Going forward, the company aims to reach sales volume target of 2 million units over the next five years and in this regard plans to launch 20 new models in the same period.
Stocks in the mining space are trading on a mixed note with Ashapura Minechem and Gujarat NRE Coke leading the gains. As per an economic daily, Coal India's arm Mahanadi Coalfields (MCL) announced that it has crossed 100 million tonne (MT) production milestone. This comes in line with the company's effort to achieve the target of 150 MT output for the current fiscal.
The company achieved this production level (100 MT) in a record 281 days during current financial year 2015-16. Furthermore, the company on December 28, 2015 sated that it has also achieved 100 million tonne dispatch of coal to its various consumers, primarily power producers.
Coal India accounts for over 80% of domestic coal production. The government has set a production target of 550 MT for the company for the current fiscal and one billion tonne production goal by 2020. Presently the stock of the company is trading down by 2.5%.
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