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After opening the day flat, the Indian indices gained momentum and are presently trading on a positive note. Sectoral indices are trading on a mixed note with stocks from the realty and IT sectors leading the gains. Pharma stocks are however trading in the red.
The BSE Sensex is trading up 23 points (up 0.1%) and the NSE Nifty is trading up 11 points (up 0.1%). The BSE Mid Cap index is trading marginally lower while the BSE Small Cap index is trading up by 0.3%. Gold prices, per 10 grams, are trading at Rs 24,945 levels. Silver price, per kilogram is trading at Rs 33,390 levels. The rupee is trading at 66.20 to the US$.
As per a leading financial daily, Tata Motors, is reportedly planning to assemble Automated Manual Transmission (AMT) kits in India. The same is planned as the company is witnessing a growing demand and increased waiting period for the AMT variant models. Earlier this year, the company had launched the new generation Nano in India. In addition to various styling and feature offerings, the car came with an AMT unit.
Furthermore, another reason for assembling the AMT unit locally can be the introduction of AMT to the much awaited Tata Zica hatchback.
On a separate note, the company's Dharwad plant has been awarded the first prize at the National Energy Conservation Awards 2015, in the automobile sector, by the Bureau of Energy Efficiency (BEE). This comes as the plant achieved 12% reduction in energy consumption in FY 14-15 as against FY 13-14. The same was attained through various initiatives such as reducing High Speed Diesel (HSD) and Power Consumption.
Tata Motors is India's largest automobile company. The company has operations in the UK, South Korea, Thailand, South Africa and Indonesia. While net sales of the company during the second quarter grew 1% YoY, there was seen a net loss of Rs 4.4 billion. Most of this brunt came in due to a port explosion at Tianjin which destroyed or damaged around 5,800 vehicles stored there. However, the future prospects of the company seem bright with new product launches among other things. Read on our latest analysis report to find out more (subscription required).
As per an article in Economic Times, Indian hospitality sector has recorded record number of deals during this year. The same is said to be recorded as the highest in the past four years. This was witnessed due to softening of valuations and improved market outlook.
To note, the year saw 10 hotel transactions involving operational assets which were almost equal to the combined number seen in the past four years. Furthermore, as per the data compiled by the hotels and hospitality group of property consultancy JLL, M&A (mergers and acquisitions) in hospitality space saw more deals taking place in the current year than in any single year over the last six to seven year period.
This depicts some relief for the industry that has been in doldrums in the past. The turnaround can pan out as a big thing to watch in the upcoming year. As industry experts point out, the deal momentum is likely to continue to 2016 with further improvement in market conditions. Till then, one can only wait and watch how things turn out on this front.
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