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Markets begin on a positive note
Fri, 9 Apr 09:30 am

The Indian markets have started today's session on a positive note. The benchmark indices opened at the breakeven mark and but soon surged into the positive. They have held on to their gains since then. Other key Asian markets are trading in the green with Hong Kong (up 1%) leading the pack of gainers. The US markets closed higher by 0.3% yesterday.

Currently in India, heavyweights from the BSE-Sensex are trading strong with auto and construction stocks attracting investors' interest. The BSE-Sensex is trading higher by around 140 points, while the NSE-Nifty is up by about 40 points. Buying interest is also being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.8% and 1.1% respectively. The rupee is trading at 44.38 to the US dollar.

Steel stocks have opened the day on a positive note. Gainers here include Adhunik Metaliks and Ispat Industries. As per a leading business daily, the government has approved disinvestment in SAIL to mop up around Rs 160 bn. The company will raise an additional 10% equity. In addition, the government will off load a 10 % to the public. This will be done in two rounds. Each round will consist of a 5% follow-on public offer and a 5% sale of the government stake. As a result, the government's shareholding in SAIL will come down to 69%, from 85.6% currently. Public shareholding will rise to 31%, from 14.2%. In our view, the additional equity will help SAIL fund its capital expenditure plan. It will spend close to Rs 700 bn to raise its installed production capacity from 13.8 m tonnes per annum (mtpa) to 23.5 mtpa. The divestment of government stake is in line with its plan to raise Rs 400 bn in FY11. Disinvestment in other public-sector undertakings like Coal India, MMTC and Engineers India is also on the cards.

Auto stocks have opened the day on a positive note. Gainers here include Tata Motors and Hero Honda. As per a leading business daily, Maruti Suzuki is facing growing demand for its cars, but is falling short of production capacity. In the last financial year, the company sold 1 m units. It expects a 10% growth this fiscal. However, the capacity utilisation at the current plant is already over 100%. Unfortunately, new capacity is likely to come on stream only by FY12. The company's engineers are trying to get around the situation by putting in manual lines. It may be noted that Maruti's two plants in Gurgaon and Manesar together have an installed capacity of 800,000 cars but produced over 1 m units in FY10.

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Stock Market Updates

Sensex Ends 441 Points Lower; Nifty Settles Below 15,000-Mark (Today's Market)

Mar 5, 2021 Closing

Indian share markets end lower with the Sensex down by 441 points and the Nifty ending down by 143 points.

GRINDWELL NORTON Share Price Down by 5%; BSE CAPITAL GOODS Index Down 1.5% (Today's Market)

Mar 5, 2021 03:30 PM

GRINDWELL NORTON share price is trading down by 5% and its current market price is Rs 950. The BSE CAPITAL GOODS is down by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 3.3%) and AIA ENGINEERING (up 0.3%). The top losers is GRINDWELL NORTON (down 5.1%).

ADITYA BIRLA CAPITAL Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:28 PM

ADITYA BIRLA CAPITAL share price is trading down by 5% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 7.3%) and MOTILAL OSWAL (up 5.9%). The top losers are ADITYA BIRLA CAPITAL (down 5.0%) and APOLLO HOSPITALS (down 5.2%).

HAVELLS INDIA Share Price Down by 5%; BSE CONSUMER DURABLES Index Down 0.7% (Today's Market)

Mar 5, 2021 03:20 PM

HAVELLS INDIA share price is trading down by 5% and its current market price is Rs 1,163. The BSE CONSUMER DURABLES is down by 0.7%. The top gainers in the BSE CONSUMER DURABLES Index are BLUE STAR (up 1.7%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is HAVELLS INDIA (down 5.1%).

BALMER LAWRIE Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:18 PM

BALMER LAWRIE share price is trading down by 5% and its current market price is Rs 148. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.8%) and MOTILAL OSWAL (up 6.1%). The top losers are BALMER LAWRIE (down 5.0%) and APOLLO HOSPITALS (down 5.5%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Mar 5, 2021 03:16 PM

TRENT share price is trading down by 5% and its current market price is Rs 936. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.6%) and MOTILAL OSWAL (up 6.1%). The top losers are TRENT (down 5.4%) and APOLLO HOSPITALS (down 5.5%).

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