Suzlon's Canadian plans, stock up

The Indian indices began the day on a positive note in line with global peers. While buying activity is being witnessed in stocks from the realty, consumer durable and capital goods space, select software and FMCG stocks are at the receiving end. The overall advance to decline ratio is poised at 3 to 1 on the BSE. As regards global markets, the US and European markets ended on a positive note last Friday. The Asian indices are currently trading mixed.
The BSE Sensex and the NSE Nifty are trading higher, up by around 82 points and 29 points respectively. The BSE Midcap and Smallcap indices are trading higher by 2% each. The rupee is trading at 49.98 to the dollar.
Automobile stocks are currently trading firm led by Tata Motors, Escorts and TVS Motors. As per a leading business daily, Maruti Suzuki is planning to invest Rs 12 bn to replace engines of existing models with new light-weight fuel-efficient engines. These new engines will conform to a new national emission standard which will come in place by 2010. It is expected that the company will strap its popular models Alto, WagonR, Zen Estilo, Versa and Swift with new engines by April 2010. It may be noted that these five models account for majority of Maruti's sales. Furthermore, it will help it compete against new cars like Honda’s Jazz, Volkswagen's Polo and Fiat's Grande Punto, which are likely to be launched in the domestic market soon.
As per a leading business daily, Suzlon Energy is planning to start business operations in the Canadian market in 2010. The company has taken this decision based on its internal analysis. The Canadian market has skilled manufacturing base and supportive legislation and policies which are favorable for setting up business operations by Suzlon. It may be noted that Suzlon, through its majority-owned Germany- based subsidiary Repower AG, had secured contracts for developing wind-power projects in Canada. Business operation close to project locations will help the company save high transportation cost of shipping wind towers and rotor blades. The move is in line with the company’s long term strategy to derisk its revenues and take advantage of the highly deregulated nature of these markets. The stock is currently trading higher