INSUBCONTINENT EXCLUSIVE:
Shares of Godrej Consumer advanced 5 per cent on Monday after global brokerage Credit Suisse upgraded its call
Gujarat Gas also gained as Macquarie raised its target price.
February auto sales numbers were mixed
Shares of Eicher Motors gained on an improvement in sales but TVS Motor and Bajaj Auto cracked, as they continued dismal show.
Benchmark
indices continued their downfall for the seventh consecutive session, longest since May 2019
selloff from higher levels after a first-half rally
stake in Jindal StainlessKotak Investment Advisors on Monday said its Kotak Special Situations Fund invested Rs 500 crore in Jindal
Stainless in the form of debt and equity
Shares of the company gained 1.67 per cent to Rs 39.65.
IGL to set up meter factoryIndraprastha Gas plans to set up a factory to manufacture
gas meters used to bill households and industries for the consumption of the environment-friendly fuel, as it looks to cut reliance on
Meanwhile, Macquarie raised the price target on the scrip, but it dipped 1.94 per cent to Rs 433.
Mindtree gets new COOMindtree said it has
appointed Dayapatra Nevatia as its Chief Operating Officer
The former Accenture executive will be based in Bangalore, it said
Shares of the company jumped 5.49 per cent to Rs 1,005.30.
Piramal receives Rs 6,500 crPiramal Enterprises said it has received $900 million
(around Rs 6,500 crore) on completion of divestment of stake in its healthcare insights and analytics business to US-headquartered Clarivate
Shares of the company jumped 3.87 per cent to Rs 1,357.95.
RE sales grow marginallyRoyal Enfield, the two-wheeler division of Eicher Motors,
reported 1 per cent growth in total sales at 63,536 units in February
Shares of Eicher Motors, which controls the company, gained 2.38 per cent to Rs 17,000.
M-M tractor sales jumpMahindra - Mahindra reported a
19 per cent increase in total tractor sales at 22,561 units in February as compared to 18,978 units in the same month last year
Shares of M-M gained 0.50 per cent to Rs 458.70.
IOC to test metal-air batteriesIndian Oil, which has picked up a minority stake in
high-tech battery maker Phinergy earlier this month, is in talks with leading domestic electric vehicle makers to start field trials for the
metal-air batteries that the Israeli company specialises in
Shares of the oil marketer fell 1.56 per cent to Rs 104.
Ashok Leyland surgesShares of Hinduja flagship firm Ashok Leyland advanced 5.87 per
cent to Rs 73.95 even though the firm reported a 37 per cent decline in total sales in February at 11,475 units against 18,245 units sold
the same month last year.
Bajaj Auto sales decline 10 per centBajaj Auto reported 10 per cent decline in total sales at 3,54,913 units in
February as against 3,93,089 units in the same month last year
The stock fell 3.21 per cent to Rs 2,797.70.
TVS Motor drops 4 per cent on weak salesTVS Motor Company reported 15.39 per cent decline in
total sales at 2,53,261 units in February on account of BS-IV reduction and impact of parts supply disruption due to coronavirus outbreak
Shares of the company fell 3.55 per cent to Rs 420.10.
NBCC gets order from BHELState-owned construction firm NBCC (India) said it has
bagged an order worth 64.83 crore from Bharat Heavy Electrical Limited (BHEL) in Jharkhand
Shares of the builder slipped 0.38 per cent to Rs 26.30.
Gujarat Gas gains as Macquarie raises targetMacqaurie said it remains positive on
Hence, it raised its target price on Gujarat Gas from Rs 240 to Rs 330 per share
The stock closed up 0.81 per cent to Rs 278.40.
Godrej Consumer jumps 5 per centGodrej Consumer Products rallied 4.87 per cent to Rs 588.05
The broker has pegged the target price at Rs 680.
Volatility gauge goes through the roofIndia VIX, the barometer of fear in the market,
soared further 8.46 per cent to 25.20 level
This means traders expect relatively more volatile movements going ahead.
IT index sole gainerNifty IT index was the sole sectoral gainer on
NSE, gaining 1.41 per cent to 15,427 as dollar gained during the day
Nifty Media was the biggest loser, tumbling 4.55 per cent to 1,594
Nifty PSU Bank followed with a plunge of 4.52 per cent to 1,857.
SBI, RIL drag SensexState Bank of India was the biggest negative
contributor to Sensex, shedding 55 points
Reliance Industries bled 41 points, followed by Axis Bank (31 points), Bajaj Finance (23 points) and Kotak Mahindra Bank (23 points).
Rs 13L
cr gone in 7 sessionsEquity investors have lost about Rs 13 lakh crore in the seven-day long market slump
The total market cap of BSE-listed firms stood at Rs 145.80 lakh crore.
346 stocks hit 52-week lowsNearly 350 shares hit their 52-week lows
They included ACC, Bank of Baroda, BHEL, Exide Industries, GAIL, Hero Moto, HPCL, IndusInd Bank, NTPC, ONGC, Wipro, PNB, Marico and Tata
they crossed above the signal line of MACD indicator
They include UFO Movies, Ugro Capital, Raw Edge Industrial, Oberoi Realty, NRB Industrial Bearings, Jindal Cotex and Hipolin, among others