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

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

  • MyStocks

MEMBER'S LOGINX

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

Tata Motors up on better outlook
Mon, 30 Nov 12:30 pm

The benchmark Indian indices continued their upward march during the previous two hours of trade. Currently, stocks across sectors are finding favour. While stocks from the metal, realty and auto spaces are amongst the top gainers, those from the FMCG and pharmaceuticals space are lagging behind. The overall advance to decline ratio is currently poised at 3.4 to 1 on the BSE.

The BSE-Sensex is trading firm, up by around 300 points or 1.8%, while the NSE-Nifty is up by around 100 points or 2%. The BSE-Midcap and BSE-Smallcap are also trading firm, up by around 2% each. The rupee is trading at 46.47 to the dollar.

Engineering stocks are currently trading firm led by AIA Engineering, Suzlon, Voltas and Cummins. Engineering and construction major, L&T has announced that it is forming a joint venture (JV) company with Nuclear Power Corporation of India (NPCIL). This JV company is being set up to make forgings for nuclear power plants. These forgings would include special steel and ultra heavy forgings. The JV company plans to set up a new, fully integrated facility at Hazira, Surat. As per a leading business daily, this venture is likely to be valued at about Rs 15 to 20 bn.

Considering that this would be L&T's first JV for nuclear forgings, it would be a significant step for it. This throws up a huge opportunity for the company as it will be able to supply finished forgings for nuclear reactors, pressurizers and steam generators, in addition to heavy forgings for critical equipment for the hydrocarbon sector as well as for thermal power plants. Also considering the fact that there are very few countries in the world having capabilities to produce nuclear grade heavy forgings, L&T is likely to benefit going forward. It will help the company further its goal of capitalising on the emerging potential of the nuclear power sector in India.

Auto stocks are currently trading firm led by Tata Motors, Escorts, Ashok Leyland and M&M. The stock of Tata Motors is currently amongst the top gainers on the BSE-Sensex on the back of announcing better than expected consolidated quarterly numbers. While the company's international brands, Jaguar Land Rover (JLR) witnessed a pickup in volumes on a sequential basis, it also witnessed a stronger operating performance on the back of lower input costs. JLR reported an EBIT (earnings before interest, depreciation, amortisation and tax) of Rs 3.1 bn during the second quarter as compared to an Rs 2.6 bn loss during the preceding quarter. On a year on year basis, the company's consolidated operating profit margin was higher by 1% to 7.1%. This was despite an 8% YoY fall in consolidated revenues.

Tata Motor's management has mentioned that there has been a pickup in demand for JLR in countries such as UK, China and Russia. This has been on the back of improved availability of consumer credit. In addition, the subsidiaries have been trying to cut down costs by certain methods such as lower marketing expenses and layoffs. We believe these methods along with the overall improving demand scenario would help the company going forward. However, the rising raw material costs remain an area of concern for Tata Motors.

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 "Tata Motors up on better outlook". Click here!

  

Stock Market Updates

J&K BANK Share Price Up by 8%; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:35 PM

J&K BANK share price is trading up by 8% and its current market price is Rs 32. The BSE BANKEX is up by 2.8%. The top gainers in the BSE BANKEX Index are J&K BANK (up 7.6%) and RBL BANK (up 5.2%).

RELIANCE IND. Share Price Up by 5%; BSE OIL & GAS Index Up 1.3% (Today's Market)

Mar 3, 2021 03:27 PM

RELIANCE IND. share price is trading up by 5% and its current market price is Rs 2,216. The BSE OIL & GAS is up by 1.3%. The top gainers in the BSE OIL & GAS Index is RELIANCE IND. (up 5.1%). The top losers are PETRONET LNG (down 0.1%) and BPCL (down 0.4%).

AU SMALL FINANCE BANK at All Time High; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:23 PM

AU SMALL FINANCE BANK share price has hit an all time high at Rs 1,224 (up 4.2%). The BSE BANKEX Index is up by 2.8%. Among the top gainers in the BSE BANKEX Index today are AU SMALL FINANCE BANK (up 4.2%) and KOTAK MAHINDRA BANK (up 3.0%).

REDINGTON Share Price Down by 5%; BSE 500 Index Up 1.9% (Today's Market)

Mar 3, 2021 03:13 PM

REDINGTON share price is trading down by 5% and its current market price is Rs 200. The BSE 500 is up by 1.9%. The top gainers in the BSE 500 Index are IFCI (up 19.9%) and IDBI BANK (up 12.1%). The top losers are REDINGTON (down 5.1%) and SYMPHONY (down 5.1%).

RBL BANK Share Price Up by 5%; BSE BANKEX Index Up 2.7% (Today's Market)

Mar 3, 2021 03:09 PM

RBL BANK share price is trading up by 5% and its current market price is Rs 249. The BSE BANKEX is up by 2.7%. The top gainers in the BSE BANKEX Index are RBL BANK (up 5.0%) and FEDERAL BANK (up 5.7%).

Sensex Trades Over 500 Points Higher; Dow Futures Up by 147 Points (Today's Market)

Mar 3, 2021 12:30 pm

BSE Sensex is trading up by 586 points, while the NSE Nifty is trading up by 190 points.

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

More

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

S&P BSE SENSEX


Mar 3, 2021 (Close)

MARKET STATS