After opening the day in green share markets in India are trading on a dull note and are presently trading marginally above the dotted line. Sectoral indices are trading on a mixed note, with stocks in the FMCG sector and stocks in the pharma sector witnessing maximum buying interest.
The BSE Sensex is trading up by 70 points (up 0.2%) and the NSE Nifty is trading up by 4 points (up 0.1%). Meanwhile, the BSE Mid Cap index is trading down by 0.8%, while the BSE Small Cap index is trading down by 0.8%. The rupee is trading at 73.45 to the US$.
In news from stocks in the auto sector. Tata Motors share price is in focus today after it was reported that the company created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions.
The new department will also look at collaborating with startups such as Ola, Uber and other freight aggregators. Tata Motors is the first automaker in India to create a separate division exclusively for shared mobility as the company manufactures an entire gamut of vehicles needed for last mile connectivity ranging from small cars to trucks and buses.
The division will also work on new technologies like augmented reality, virtual reality and big data to help create certain mobility solutions.
Shared mobility as a concept has different facets to it and ride-sharing is probably one of the main aspects that has become popular in India with companies like Ola and Uber.
At the time of writing, Tata Motors share price was trading down by 0.4%
Speaking of auto stocks. Stocks like Tata Motors have taken a beating over the past few months.
One out of every three households in India is a buyer of their products. They own some of the cult brands in Indian automobile space. They have formidable R&D teams. They have been through several economic cycles over decades. Few have even visited near-bankruptcy in the past and come out successful.
