Sensex Today Trades Lower | Nifty Below 21,900 | Auto Index Tanks 2%

Mon, 13 May 10:30 am

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Asian share markets made a cautious start on Monday in a week where inflation figures could make or break hopes for earlier US rate cuts.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, having hit its highest in more than 15 months last week.

US stocks were mostly higher on Friday with the Dow extending winning streak for the eighth consecutive day, as renewed optimism about the outlook for interest rates after recent data indicated some softness in the US labor market.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	170.29	-1.29	-0.75%	171.34	167.91	176.42	114.93
Apple	183.05	-1.27	-0.69%	185.09	182.13	199.62	164.08
Meta	476.2	0.78	0.16%	477.5	469.6	531.49	231.45
Tesla	168.47	-3.5	-2.04%	173.06	167.75	299.29	138.8
Netflix	610.87	-1.22	-0.20%	623.98	605.06	639	329.62
Amazon	187.48	-2.02	-1.07%	189.89	186.93	191.7	109.25
Microsoft	414.74	2.42	0.59%	415.38	411.8	430.82	306.26
Dow Jones	39512.84	125.08	0.32%	39579.88	39406.26	39889.05	32327.2
Nasdaq	18161.18	47.72	0.26%	18247.61	18099.72	18464.7	13256.56

Source: Equitymaster

At present, the BSE Sensex is trading 610 points lower and NSE Nifty is trading 169 points lower.

Cipla, Eicher Motors and Asian Paints are among the top gainers today.

Tata Motors, BPCL and Coal India the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive note. The BSE Midcap index is trading 1.3% lower and the BSE Small Cap index are trading 1.2% lower.

Barring healthcare sector, all other sectoral indices are trading on negative note, with socks in auto sector, realty sector and metal sector witnessed selling pressure.

The rupee is trading at Rs 83.51 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 72,354 per 10 grams today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock market, the prospects of pharma stocks globally are tied to what is called the patent lifecycle of drugs.

The last phase of this lifecycle in the US generics market is known as 'Patent Cliff'. This is when products go off-patent i.e. they lose the regulatory exclusivity on selling a particular drug.

After this phase the drugs become 'generics', a category that Indian pharma companies have developed expertise in.

Drug makers in India have been making generic versions of the off-patent drugs for decades, at a fraction of the cost.

Tanushree Banerjee, Research Analyst at Equitymaster talks about what is new upside now in her latest video.

Discover Now: The Key to Stress-free Investing

HUDCO Signs MOU with SITCO

Shares of Housing and Urban Development Corporation Limited (HUDCO) are in focus on 13 May after the PSU signed a Memorandum of Understanding (MoU) with the Surat Integrated Transportation Development Corporation Ltd (SITCO).

The MoU is about collaboration on the construction and development of the Surat Multi-Modal Transportation Hub (MMTH) on land provided by the railway ministry and the Gujarat government.

SITCO is a joint venture (JV) organisation of the Ministry of Railways through the Rail Land Development Authority, the Government of Gujarat through GSRTC and the Surat Municipal Corporation.

Assuming everything progresses as planned, the country's first MMTH project is expected to be completed by December 2026. This project is designed to seamlessly integrate railway, interstate bus, metro, and city bus services. Moreover, it will provide direct connectivity to bullet trains and airports.

Housing & Urban Development Corporation (HUDCO) is a public limited company (Government of India undertaking).

Being majorly owned by the centre, the company receives support in terms of board representation and access to low-cost funds.

Eicher Motors Q4 Results

Riding on an increase in sales volumes, higher average selling price (ASP), new launches, and benign commodity costs, Eicher Motors Limited (EML) reported an 18.2% increase in net profit at Rs 10.7 bn during the fourth quarter of this financial year. The Royal Enfield maker's Profit After Tax (PAT) during Q4 FY23 stood at Rs 9.1 bn.

The company's revenue from operations jumped 11.8% Year-On-Year (YOY) to Rs 42.6 bn. The company's topline during the same period last year was Rs 38 bn.

EML's Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) was Rs 11.3 bn, up 20.8% as compared to Rs 9.3 bn in the same quarter of the previous financial year.

During the quarter, Royal Enfield recorded sales of 227,925 motorcycles, up by 6.2% from 214,685 motorcycles sold during the same period in FY 2022-23.

For the financial year ended 31 March 2024, EML's total revenue from operations was at Rs 16,536 crore up by 14.5% as compared to Rs 144.4 bn recorded for FY 2022-23.

The Siddhartha Lal-led company's EBITDA was Rs 43.2 bn up by 25.6% as compared to Rs 34.4 bn in FY23, and PAT was recorded at Rs 40 bn, up by 37.3% as compared to Rs 29.1 bn for the same period last year.

Its CV arm- Volvo Eicher VECV's revenue from operations was Rs 218.7 bn, up by 15.3% over the previous year's revenue of Rs 189.5 bn. EBITDA for FY 2023-24 was Rs 17.2 bn, 25.2% higher than Rs 13.7 bn last year.

VECV's PAT stood at Rs 823 crore, up 42.1% from Rs 5.8 bn last year. VECV recorded sales of 85,560 vehicles for FY 2023-24, marking a growth of 7.5% over 79,623 vehicles in FY 2022-23.

The Board of Directors of the company declared a final dividend of Rs 51 per share for FY24 with a payout of Rs 13.9 bn.

Established in 1959, Eicher Motors Limited (EML) is the owner of the 'Royal Enfield' (RE) brand, the global leader in the mid-size (250-750 cc) motorcycles.

RE has been the growth driver of EML over the years and has managed to create strong brand equity in the mid-sized motorcycle segment.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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