Index Trends And Stocks In Action September 02, 2014
Indian Equity market kicked off the week by scaling to fresh life-time highs. The nifty surged well past psychological mark of 8000 for the first time on back of an upbeat first quarter GDP data. In addition better than expected monthly auto sales numbers by select auto majors furthers lifted sentiment on the street. In our last write we mentioned nifty is approaching towards levels of 8050 and nifty on Monday registered a high of 8035. So this was in line with our expectation. Now going forward nifty is likely to continue its upward momentum, on upside it’s expected to face resistance in zone of 8090-8120. On downside nifty has strong support in range of 7930-7960.
Cipla (BSE Code: 500087) has launched an anti-asthma inhaler in Germany and Sweden that is a generic version of GlaxoSmithKline Plc's Advair, a move that will further dent sales of the British firm's top-selling product. Cipla's drug will be marketed under the name Serrofloin in Germany and Salmeterol/Fluticasone Cipla in Sweden. Making copies of inhaled drugs such as Advair is a challenge because of the complexity of making a device that effectively delivers the medicine directly into the lungs. The stock may trade with a positive bias in today’s trade.
TVS Motor (BSE Code: 532343) reported a 46% increase in its total sales at 2,27,482 units in August 2014. The company had sold 1,55,532 units in the same month last year. Domestic two-wheeler sales stood at 1,90,547 units last month, up 50%, from 1,27,095 units in the year-ago period. Scooters sales during the month grew by 84% to 67,240 units in August 2014 as against 36,478 units in the corresponding month last year. Motorcycles sales grew by 36% to 83,332 units in last month as compared to 61,313 units in the corresponding month a year earlier. The stock may trade with a positive bias in today’s trade.
The country's largest two-wheeler maker Hero MotoCorp (BSE Code: 500182) reported 21.43% jump in its total sales at 5,58,609 units in August 2014. It had sold 4,59,996 units in the same month last year. Since its split from Japan's Honda Motor Co in 2011, Hero has been investing heavily in technology to develop new bikes and increasing its push into overseas markets. The company said it will keep up with the growth momentum for the festive season with "as many as 10 new launches - including new models, upgrades and refreshes" during this period. The stock may trade with a positive bias in today’s trade.