After opening the day in green share markets in India are trading on a positive note and are presently trading above the dotted line. Sectoral indices are trading on a mixed note, with stocks in the realty sector and stocks in the energy sector witnessing maximum buying interest.
The BSE Sensex is trading up by 151 points (up 0.4%) and the NSE Nifty is trading up by 54 points (up 0.5%). Meanwhile, the BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 0.3%. The rupee is trading at 73.29 to the US$.
In news from stocks in the auto sector. Hero Motocorp share price is in focus today after the company detailed plans for expansion of its two-wheeler offerings.
The company is planning to have half a dozen scooters in its product portfolio in the next 8-12 months, as the nation’s largest two-wheeler maker seeks to expand its presence in a fast-growing segment where its presence is rather small.
The company had earlier this year announced its intent to enter the premium motorcycles and scooter space. It launched the Extreme 200 motorcycle in July, and recently introduced a new 125 cc scooter, Destini. With this, it has four scooter models in its portfolio.
Hero MotoCorp believes that the scooter market is witnessing a shift towards products with higher engine capacity. The 125cc segment, which accounts for 20% of the scooter space, has been expanding at a rapid pace, witnessing growth of more than 75% since April this year.
Hero MotoCorp plans to next launch the Maestro Edge 125 before the end of the fiscal year and a 110 cc model next financial year.
Hero MotoCorp has a share of more than 60% in India’s mass-market motorcycle segment. However, it has just a 10.4% share in the scooter space and is as good as inexistent in the 150cc-plus motorcycle market. The company had lost the No. 2 spot in scooters a few years ago to TVS Motor. Honda is the segment leader with an almost 60% market share.
