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After trading flat during the morning session, the Indian indices have recovered and are presently trading on a positive note. Sectoral indices are trading on a mixed note with stocks from the FMCG and energy sectors leading the gains. Metal stocks are trading in the red.
The BSE Sensex is trading up 116 points (up 0.5%) and the NSE Nifty is trading up 30 points (up 0.4%). The BSE Mid Cap index is trading up 0.1% while the BSE Small Cap index is trading down by 0.1%. Gold prices, per 10 grams, are trading at Rs 29,808 levels. Silver price, per kilogram is trading at Rs 37,626 levels. Crude oil is trading at Rs 2,603 per barrel. The rupee is trading at 67.06 to the US$.
Stocks in the automobile space are trading on a mixed note with Eicher Motors and Maharashtra Scooters leading the gains. As per a leading financial daily, Hero MotoCorp will be entering new markets globally, including Mexico and Nigeria, as the company is eyeing 1 crore unit sales by 2017-18.
The management of the company stated that the company is present in a number of countries in Latin America, South East Asia and Africa and is now planning to enter the biggest market in Africa, Nigeria. Further, the management stated that very soon the company will also be going to Mexico.
Note that Hero MotoCorp separated from Honda Motor Co. Ltd in 2011 and since then has augmented its global presence. In August 2013, the company announced plans to enter 50 markets by 2020 with a target of 20 manufacturing facilities across the globe and an overall annual turnover of Rs 600 billion.
The company aims at getting 10% of annual sales from export markets, at around 1 million units, by 2017. Further, it has set a cumulative sales target of 100 million units by 2020, having already crossed the 50 million milestone.
Moreover, on a separate note, Hero MotoCorp has inaugurated its first integrated research and development (R&D) center. The new facility boasts of a 16-kilometer-long track with 45 different surfaces spread across a 250 acre plot. In addition to this, it has a design studio, prototype manufacturing, testing and validation unit.
With the new R&D facility, the company would be able to bring better products. The facility will also help the company to save money on product developments as its plans to localize a lot of technology that it currently brings from the overseas partner at high cost.
To know our view on the stock, you can read our analysis of the third quarter results here (subscription required).
Presently the stock of the company is trading flat.
Stocks in the software space are trading on a mixed note with TCS and HCL Technologies leading the gains. As per an economic daily, Wipro has entered into a strategic collaboration with Tableau, a global leader in business analytics software. The partnership is to offer solution accelerators and innovative delivery models for Wipro's and Tableau's customers across the globe.
The partnership aims at cross leveraging business intelligence expertise between Wipro and Tableau to deliver holistic, future proof and ready-to-go advanced visualization solutions to their customers across the globe.
With this development, Wipro will focus on creating solutions primarily in the sectors of financial services, retail, consumer packaged goods (CPG) and pharmaceuticals.
Further, the partnership will enable innovative cloud-based delivery and business models such as subscription based pricing. This will widen the company's spectrum of offering in terms of both scale and scope.
Wipro is a global information technology, consulting and outsourcing company serving clients in 175+ cities across 6 continents. Presently its stock is trading up by 0.3%.
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