The BSE Sensex is trading up 12 points and the NSE-Nifty is trading up 8 points. The BSE Mid Cap index is trading up 0.6%, while the BSE Small Cap index is trading up 0.8% today. The rupee is trading at 60.1 to the US dollar.
Auto stocks are trading mixed today. While TVS Motors and Maharashtra Scooters are leading the gainers; Hero MotoCorp and Bajaj Auto are trading weak. As per a leading financial daily, India's leading two-wheeler maker Hero MotoCorp is planning to set up a new plant in South India. This will be its sixth plant overall and will increase its annual capacity to about 12 million units. This plant will be used to cater to the domestic market, particularly in South India. The company is currently scouting for land in the region. It has not disclosed the timeline for the completion of this expansion project as well as the location of the plant. Hero MotoCorp is trading down 0.8% today.
Indian Pharma stocks have opened the day on a mixed note with Natco Pharma and Cipla leading the gains. However, Indoco Remedies and Dishman Pharma are among the stocks trading in the red. As per a leading financial daily, Cipla Ltd has acquired 60% stake in a company in Sri Lanka through its wholly-owned subsidiary Cipla (Mauritius) Ltd. Cipla (Mauritius) Ltd has signed a definitive agreement with its existing Sri Lankan distributor for the stake acquisition. For this acquisition Cipla would pay a consideration of US$ 14 m (nearly Rs 850 m). The new company will market Cipla's products in Sri Lanka. Cipla is trading up 3.6% today.