Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Maruti plans motor insurance venture
Fri, 30 Jul 11:30 am

After starting today's session on a weak note Indian indices continue to trade in the negative territory. Other key Asian markets too are trading in the red. Stocks from consumer durables and banking space are witnessing some buying interest while stocks from IT and real estate space are trading in the red.

The BSE-Sensex is trading down by around 33 points, while the NSE-Nifty is down by about 12 points. However, buying interest is visible amongst the mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.8% and 0.7% respectively. The rupee is trading at 46.44 to the US dollar

Auto stocks are trading mixed with Tata Motors and Hero Honda leading the pack of losers. However, M&M and Maruti are trading in the green. As per a leading news daily, Maruti, the country's largest passenger car maker, is planning to float a general insurance company with along with another local partner. The company has been selling motor insurance under its brand, Maruti Insurance, since 2002. However, the company won't be able to sell more policies as the regulator cancelled its agency licence, recently. The move came after insurance companies alleging that Maruti service stations used to inflate bills pushing them into losses. It should be noted that in FY10 Maruti sold 2.5 m policies. Now Maruti is planning to float new insurance company in JV with an Indian counterpart. Globally there have been instances where car makers have entered into the motor insurance business to cater to their customers. And Maruti has followed that global tradition. Considering the scale of Maruti's operations, the move is likely to benefit both Maruti and its customers.

Real estate stocks are trading in the red with Phoenix Mills and India Bulls real estate leading the pack of losers. However, Sobha Developers and HDIL are trading in the green. DLF, a real estate major, announced its 1QFY11 results recently. Its top line grew by around 23% YoY while the bottom line registered a flattish growth during the quarter. Top line growth was aided by strong sales bookings and a good jump in realizations, particularly in the residential segment. The company booked nearly 1.9 m sq ft of area in its developmental business. Under the annuity business, DLF booked 0.98 m sq ft, significantly higher than the previous quarter. While realizations in the residential segment showed dramatic improvement, the same in the commercial space declined 32% YoY during the quarter. As for the annuity business, the average lease rates in the office segment increased by 60% YoY. However, the average lease rates in the retail segment witnessed a drop.

Margins in the residential business stood at 56% while margins in the commercial space stood at 75% during the quarter. During 1Q FY11 DLF's operating profits increased 32% YoY. Despite the strong growth in operating profits, net profits increased by meager 4% YoY mainly due to burgeoning interest and depreciation expenses. Interest and depreciation cost rose 35% YoY and 104% YoY, respectively.

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

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Maruti plans motor insurance venture". Click here!


Stock Market Updates

Sensex Rises 477 Points; Trading Resumes on NSE (Today's Market)

Feb 24, 2021 Special Update

The BSE Sensex is trading up by 477 points, while the NSE Nifty is trading up by 135 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Feb 24, 2021 02:54 PM

SIEMENS share price has hit an all time high at Rs 1,922 (up 1.7%). The BSE CAPITAL GOODS Index is up by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 1.7%) and HONEYWELL AUTOMATION (up 1.9%). The top losers include HAVELLS INDIA (down 0.2%) and GRAPHITE INDIA (down 0.2%).

MUTHOOT FINANCE Share Price Down by 6%; BSE 500 Index Up 0.5% (Today's Market)

Feb 24, 2021 02:36 PM

MUTHOOT FINANCE share price is trading down by 6% and its current market price is Rs 1,315. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are INDIAN OVERSEAS BANK (up 10.0%) and BANK OF MAHARASHTRA (up 10.0%). The top losers are MUTHOOT FINANCE (down 5.8%) and HIMADRI SPECIALITY CHEMICAL (down 5.4%).

ZENSAR TECHNOLOGIES at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Feb 24, 2021 01:02 PM

ZENSAR TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 282. BSE 500 Index is up by 0.5% at 19,684. Within the BSE 500, ZENSAR TECHNOLOGIES (up 5.3%) and NAVA BHARAT VENTURES (up 11.2%) are among the top gainers, while top losers are MAGMA FINCORP and RELIANCE POWER.

Sensex Trades Over 200 Points Higher; Dow Futures Down by 103 Points (Today's Market)

Feb 24, 2021 12:30 pm

BSE Sensex is trading up by 226 points, while the NSE Nifty is trading up by 113 points.

OMAXE Share Price Down by 6%; BSE REALTY Index Up 0.5% (Today's Market)

Feb 24, 2021 12:22 PM

OMAXE share price is trading down by 6% and its current market price is Rs 72. The BSE REALTY is up by 0.5%. The top gainers in the BSE REALTY Index are PRESTIGE ESTATES (up 1.9%) and DLF (up 1.9%). The top losers is OMAXE (down 5.8%)..

View More Indian Share Market News

Most Popular

Intraday Trading for a Living(Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Penny Stock Master Series: The Quest for 10X Profits in 10 Years(Profit Hunter)

Feb 12, 2021

This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021(Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla(Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Feb 24, 2021 (Close)