DSIJ Mindshare

The FMCG sector is considered defensive and resilient. However, recently the FMCG stocks were among the top losers on the NSE. The Nifty FMCG index closed down by 1.73 per cent at 30,811.60.

A flagship of TVS Group, the two/three wheeler major, TVS Motors released sales report for its premium brand TVS Apache on Monday. TVS Apache which is one of the fastest growing motorcycle brands has achieved 3 million sales milestone. The stock of TVS recovered from 1.3 per cent loss and is trading flat from the previous close at 14:54 hours.

Jaguar Land Rover sales dropped by 4.9 per cent (YoY) to 36,629 units in the month of August. Consequentially, in the Monday morning trade, the stock of Tata Motors witnessed a 2 per cent drop. The stock reported an intraday high of Rs. 276.30 and an intraday low of Rs. 272 per share.

Hi-Tech Pipes announced the installation of 400 KW grid-connected solar power plant. This rooftop solar project will be conducted at its Hindupur facilities, Andhra Pradesh. The stock of Hi-Tech Pipes is trading up gaining 4.1 per cent at 13:58 hours, despite weakness in the markets.

Power Mech has received a Letter of Intent for several work orders totalling to Rs. 247 crore. The share price of the company has however remained modest.