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Markets down on profit booking
Tue, 10 Aug 01:30 pm

Indian indices continued to languish in the red on selling in heavy weights during the last two hours of trade. Stocks from oil & gas and capital goods space are trading firm while stocks from the IT and auto space are trading weak.

The BSE-Sensex is trading down 98 points while NSE-Nifty is trading 34 points below the dotted line. BSE-Midcap index and BSE-Smallcap index are both trading down by 0.4%. The rupee is trading at 46.34 to the US dollar.

Engineering stocks are trading mixed with Cummins India and AIA Engineering trading firm and Engineers India and Finolex Cables trading weak. Opto Circuits Limited declared its 1QFY11 results. The company has done well with its top line growing by 27% YoY during the quarter. This growth was aided by a 27% YoY growth in the company’s invasive segment and 71% YoY growth in the company’s non-invasive segment. Operating margins for the company remained flat inspite of higher other expenditure as a percentage of sales. This is because of lower raw material costs (as a percentage of sales) which offset this increase. Net profits of the company increased sharply by 40% YoY. This increase came on the back of higher operating income, increase in other income and lower interest costs. Net profit growth could have been higher but for increase in depreciation charges and higher effective tax rates.

Auto stocks are trading down with Tata Motors and Ashok Leyland the top losers. As per a leading financial daily, two wheeler manufacturer Bajaj Auto is planning to re-enter the high performance motorcycles segment with a range of high-end Pulsars next year. It may be noted that the company had changed its focus from high end to low capacity motorcycles to challenge Hero Honda’s dominance in that segment. Bajaj’s Pulsar has received tremendous response and the company is planning to capitalize on this. Although finer details of the new bike are not available, sources say that the new bike will have a 250 cc engine. This bike will compete with the Kawasaki Ninja in engine power but will be available at less than half the price. The market of bikes over 200 cc is not very large. Currently Bajaj sells about 54,000 units per annum of its 220 cc Pulsar. While the market for high end bikes is growing, we believe proper price positioning will be the key to the success of the new bike.

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Stock Market Updates

Sensex Ends 598 Points Lower, Nifty Settles Below 15,100-Mark; HDFC and JSW Steel Top Losers (Today's Market)

Mar 4, 2021 Closing

Indian share markets end deep in the red with the Sensex down by 598 points and the Nifty ending down by 164 points.

TORRENT POWER Share Price Up by 5%; BSE POWER Index Up 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

TORRENT POWER share price is trading up by 5% and its current market price is Rs 429. The BSE POWER is up by 0.6%. The top gainers in the BSE POWER Index are TORRENT POWER (up 5.2%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.7%) and NTPC (down 1.2%).

DILIP BUILDCON Share Price Up by 8%; BSE CAPITAL GOODS Index Down 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).

BALRAMPUR CHINI Share Price Up by 10%; BSE 500 Index Down 0.3% (Today's Market)

Mar 4, 2021 03:00 PM

BALRAMPUR CHINI share price is trading up by 10% and its current market price is Rs 213. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are BALRAMPUR CHINI (up 10.3%) and BALMER LAWRIE (up 13.6%). The top losers are DIVIS LABORATORIES and PIDILITE INDUSTRIES .

INDIAN ENERGY EXCHANGE Share Price Up by 7%; BSE POWER Index Up 0.9% (Today's Market)

Mar 4, 2021 02:48 PM

INDIAN ENERGY EXCHANGE share price is trading up by 7% and its current market price is Rs 319. The BSE POWER is up by 0.9%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 6.6%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.5%) and NTPC (down 0.8%).

ITD CEMENTATION INDIA Share Price Up by 8%; BSE REALTY Index Up 0.3% (Today's Market)

Mar 4, 2021 02:36 PM

ITD CEMENTATION INDIA share price is trading up by 8% and its current market price is Rs 93. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are ITD CEMENTATION INDIA (up 8.5%) and INDIABULLS REAL EST (up 10.3%). The top losers are PRESTIGE ESTATES and GODREJ PROPERTIES (down 0.2%).

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