Stock markets in India pared their morning gains, and are now trading flat ahead of monetary policy meeting today. Sectoral indices are trading mixed with stocks in the power sector and realty sector witnessing maximum selling pressure. Gains are largely seen in energy sector and IT sector.
The BSE Sensex is trading up by 18 points and the NSE Nifty is trading down by 6 points. Meanwhile, the BSE Mid Cap index is trading down by 0.2% while, the BSE Small Cap index is trading down by 1.1%. The rupee is trading at 67.63 to the US$.
In the news from the automobiles sector. Tata Motors share price surged 1.1% in the afternoon trade after it registered an impressive growth of 58% at 54,295 units in May 2018, as against 34,461 units over last year.
The growth came on the back of continued strong sales performance of its Commercial and Passenger Vehicles Business in the domestic market.
Tata Motors' Commercial Vehicles domestic sales in May 2018 were at 36,806 units, an increase of 56% compared to 23,606 units in May 2017. The M&HCV truck segment continued its significant growth momentum with 12,424 units, an increase of 90% over last year.
Tata Motors' Passenger Vehicles domestic sales in May 2018 were at 17,489 units as against 10,855 units. The company's sales from exports (from CV and PV) in May 2018 stood at 3,699 units as against 3,900 units, registering a fall of 5.15% over last year.
To know more about the company, you can access to Tata Motors' latest result analysis and Tata Motors stock analysis on our website.
Moving on to the news from the aviation sector. As per the Airport Authority of India (AAI), total passengers traffic at Indian airports in the month of April, 2018 grew by 21.7% as compared with the same month last year.
It indicated that during the same month, domestic traffic grew by 25% and international traffic by 10.2%, with the overall passenger movement being recorded at 28.2 million.
The data further showed that smaller towns which benefited from the regional connectivity scheme of the government have now begun contributing to the overall growth passenger traffic growth.
It also noted that places such as Shillong, Shimla, Bhatinda, Ludhiana, Bhuntar, Pathankot, Mysore, Salem, among others, saw a good number of passenger traffic movement in April as opposed to the corresponding period last year.
According to the AAI, during April, the total freight at all Indian airports stood at 284.3 thousand MT, reflecting a growth of 6.1% over the corresponding month of previous year. Of this percentage, the growth in international freight stood at 4.6% and domestic freight at 9%.
Speaking of India's aviation industry, this space has been on a high-growth trajectory. India's domestic air traffic has seen a prolific growth of 20-25% during 2015 and 2016. And in 2017, it tapered to 17.4%.
Indian Aviation Spreading its Wings
Although air travel is becoming the new normal, investors need to understand the industry dynamics before buying up aviation stocks.
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