Indian share markets continued to remain volatile and rebounded into a positive territory in the post-noon trading session. Barring oil and gas and FMCG, all the sectoral indices are trading in the green with auto, metal and realty stocks being the biggest gainers.
BSE-Sensex is up 47 points and NSE-Nifty is trading 19 points up. BSE Mid Cap is trading up 0.9% and BSE Small Cap index is trading up 0.8%. The rupee is trading at 62.0 to the US dollar.
Majority of automobile stocks are trading in the green, with TVS Motors and Ashok Leyland being the major gainers. However, Tube Investments and Escorts are among the few stocks trading in the red. As per a leading financial daily, Ashok Leyland has said that it will not be launching sedans and will focus on large light commercial vehicles (LCV's) to be launched by March 2014. As per the company, it wants to capitalize on the strong customer loyalty enjoyed in commercial vehicles that also have a longer lifecycle and customization. The company recently launched multi-purpose vehicle 'Stile' in collaboration with Japan's Nissan Motor Company. Reportedly, the company's sale of LCV's fell by 28% as compared to a fall of 30% in industry sales during 1HFY14 on a YoY basis. In order to increase sales, the company is expanding presence in semi-urban areas. Ashok Leyland's stock is currently trading up by 4.4%.
Most of the stocks in fertilizer sector are trading in green with Tata chemicals and Godavari fertilizers leading the pack of gainers. As per the financial daily, Tata Chemicals is planning to restructure its European business. The company is looking to close its soda ash and calcium factory in UK, due to rising energy costs. The company plans to restructure three sites in UK. This step is taken as rising energy prices are serious threat to the company's performance. This restructuring would result in to around 220 job losses. Currently, there are three units in UK, through which the company operates in the European market via its subsidiary Tata chemicals, Europe. It has three sites in Europe viz; Cheshire: Winnington (Northwich), Lostock (Northwich) and Middlewich. The stock is currently trading up by 4%.
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...
For the quarter ended December 2019, ASHOK LEYLAND has posted a net profit of Rs 278 m (down 92.7% YoY). Sales on the other hand came in at Rs 40 bn (down 36.5% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.
For the quarter ended September 2019, ASHOK LEYLAND has posted a net profit of Rs 389 m (down 91.5% YoY). Sales on the other hand came in at Rs 39 bn (down 48.4% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.
Here's an analysis of the annual report of ASHOK LEYLAND for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of ASHOK LEYLAND. Also includes updates on the valuation of ASHOK LEYLAND.
More Views on NewsIn this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.
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.
A look at what India's top equity mutual funds bought and sold in January 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.
More
Equitymaster requests your view! Post a comment on "Indian share markets recover". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!