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Indices open with marginal losses
Mon, 21 Feb 09:30 am

Asian stocks have opened the week on a weak note. Markets in Singapore (down 0.6%), Hong Kong (down 0.5%) and Japan (down 0.4%) are the biggest losers. However, markets in China (up 0.1%) are seeing buyers' interest. The Indian markets have opened the day on a negative note. Stocks from the auto and realty space are leading the losers' pack.

The BSE-Sensex is trading lower by around 50 points (0.3%), while the NSE-Nifty is down by around 6 points (0.1%). Mid and small cap stocks are trading in the negative as well with the BSE Midcap and BSE Small cap indices down by about 0.58% and 0.04% respectively. The rupee is trading at 45.16 to the US dollar.

Auto stocks have opened the day on a weak note. Leading utility vehicle maker, Mahindra & Mahindra (M&M) has received the approval from its creditors for the takeover of Ssangyong Motors. The company is now focused on integrating the Korean vehicle maker and launching its products in India. In lines with this, the company has announced the top management personnel who would be heading the Korean operations. Interestingly, the top personnel are all from India. The company has chosen Mr. Sundaram to head the finance at South Korea. Mr. Sundaram was earlier the CFO of M&M. However, as stated by the management, the CEO would be a Korean. The formal announcements for this are still pending. The senior officials from India would be relocating to South Korea to take up their new responsibilities.

M&M plans to boost its research and development facilities to create a strong pipeline of products. It plans to launch two high end sedan models of Ssangyong within the year. And launch two of its SUVs next year.

L&T and other equipment makers, who rival BHEL in India's power equipment market, fear that they would lose out heavily to Chinese rivals. This is because private power firms are willing to place orders only with tough conditions that add costs to their supplies. Private power firms such as Tata Power, Reliance Power, Patel Engineering, Visa Power and Moser Baer Projects are asking equipment suppliers to give an undertaking that their foreign technology suppliers will ensure proper functioning of the equipment after delivery. Technology providers, mostly in Europe, US and Japan, would give such assurances only if they get royalty payment. Also, the power equipment market in India is at a nascent stage. On the other hand, the energy-efficient, supercritical technology is a forte of players in China, Korea and Russia. This would make domestic players uncompetitive against these foreign equipment suppliers.

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Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results (Today's Market)

May 14, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

ADANI TOTAL GAS Share Price Down by 5%; BSE 500 Index Down 0.1% (Today's Market)

May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

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