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Realty & auto stocks lead losses
Tue, 21 May 01:30 pm

Backed by persistent selling, Indian share markets widened losses in the post-noon trading session. Majority of the sectoral indices are trading in the red with realty, auto and power stocks being the major losers whereas IT and consumer durables are the only stocks trading in the green.

BSE-Sensex is down 64 points and NSE-Nifty is trading down 28 points. Both BSE Mid Cap and BSE Small Cap indices are trading down by 0.3%. The rupee is trading at 55.0 to the US dollar.

Majority of the FMCG stocks are trading in the green, with Emami and Marico among the top gainers whereas Colgate and Godrej Consumer are trading in the red. As per a leading financial daily, Nestle will be investing Rs 2.5 bn in expansion and modernization of its existing milk plant in Moga, Punjab over a period of two years. The company has already invested Rs 2.5 bn in the said plant. Currently, the company has been procuring milk from 1.1 lakh dairy farmers across the state. Nestle has so far made investments to the tune of Rs 95 bn to scale up its capacities. Nestle scrip is trading up by 2.3%.

Most of the automobile stocks are trading in the red, with Tata Motors and Maruti Suzuki being the major losers. As per a leading financial daily, Tata Motors has launched the new premium hatchback Vista D90 in Nepal at price of Rs 17 lakhs. Reportedly, the company is hopeful that the car will have good demand in this market, as the company is already getting enquires about the launch of this model. The Vista D90 is powered by a 1.3 litre quadrajet diesel engine. The company claims the car gives a mileage of 21 km/litre of fuel. The launch of this model would further expand the company's portfolio in Nepal. Vista D90 was already launched in Indian markets in the beginning of the year. Tata Motors scrip is trading down by 2.3%.

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Feb 20, 2018 (Close)