Benchmark indices are likely to open on a volatile note amid the decline in select Asian markets which came under pressure on weak macro-data from China. Meanwhile, further decline in crude prices below the level of $80 a barrel will keep oil and gas shares in focus.

Earlier, the government on Thursday raised excise duty on petrol and diesel by Rs 1.50 a litre each to help it achieve the fiscal deficit target for this year.

Markets started the day in green with the benchmark indices up 0.2% each in opening deals. The ones leading the opening gains were L&T, Tata Motors, ICICI Bank and ONGC.

At 0919 hrs, the Sensex was up 58 points at 28,067 and the Nifty added 12 points to trade at 8,395.

India’s largest automaker Tata Motors is on a fundraising spree as it faces increased capital expenditure for expanding its product development pipeline.

The Mumbai-based company is expected to raise an additional Rs 300 crore through the sale of bonds carrying a 9.35% coupon rate that is expected to hit the market shortly.

Shares of most of the frontline automobiles companies are trading lower after reporting drop in vehicle sales during the month of October despite of the festive season.

Tata Motors, Mahindra and Mahindra (M&M), Hero MotoCorp, Eicher Motors and Maruti Suzuki India are down 1-2% on the Bombay Stock Exchange (BSE).

Benchmark indices are trading flat with a negative bias as the advance in IT shares is being offset by losses in auto shares which are down on weak Ocotber sales data.

At 9:17 AM, Sensex was down 19 points at 27,846 while Nifty was down 8 points at 8315.

The country's largest auto maker Tata Motors has raised $750 million from Asian and European investors by selling a dual tranche bond issue which got an over subscription of six times at $4.5 billion, reports PTI. The company has priced the 5.5-year benchmark senior unsecured notes of $500 million at 4.62%, while the coupon for the 10-year $250 million notes is fixed at 5.75% per annum. Earlier, it had sold $300 million worth bonds in April at a coupon of 5.53%.

Tata Motors, India’s biggest automaker, is set to raise $750 million (Rs 4,600 crore) in what could be its second fund raising activity this year.

The Mumbai-based company will reportedly issue $750 million of senior unsecured notes, according to Bloomberg.

Benchmark indices continued to trade firm after a gap up opening led by L&T and Tata Motors while index heavyweight Reliance industries rebounded after the recent correction post the gas price hike.

At 10.40AM, the 30-share Sensex is up 179 points at 26,754 and the 50-share Nifty is up 54 points at 7,982.

British luxury carmaker Jaguar Land Rover Ltd, owned by Tata Motors Ltd, expects its China sales to grow 20% this year, Greater China head Bob Grace said on Tuesday.

The target compares with a rise of around 40% last year which Grace partly attributed to a larger base of comparison.

Tata Motors-owned Jaguar Land Rover (JLR) is working on an ambitious plan to set up a factory in the US, in a first for a British car maker in the world's second-biggest automobile market.

The west Midlands-based luxury carmaker is reportedly talking to several southern states of America, including South Carolina, about building a plant in the US, The Sunday Times claimed on Sunday.

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