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Capital goods, power support markets
Mon, 5 Dec 01:30 pm

The Indian stock markets recouped most of the morning session losses on account of buying interest in heavyweights during the last two hours of trade, and are now trading near the dotted line. Stocks from the capital goods, power, auto and Public Sector Units (PSU) are leading the pack of gainers while those from consumer durables and FMCG space are trading weak.

The BSE-Sensex and NSE-Nifty are flat. However, the BSE Mid Cap and BSE Small Cap indices are trading up by 0.2% and 0.3% respectively. The rupee is trading at 51.35 to the US dollar.

Power stocks have been trading mixed with GVK Power & Infrastructure, Jaiprakash Power and Neyveli Lignite leading the pack of gainers. However, CESC Ltd and Reliance Power are trading weak. As per a leading financial daily, National Thermal Power Corporation (NTPC) is likely to shut down NTPC Hydro Ltd (NHL) and exit a joint venture (JV) with European company Alstom SA . This will be done as a part of a restructuring exercise suggested by Deloitte. Besides, Deloitte has suggested NTPC to make a timely exit from equipment manufacturing joint ventures such as NTPC-BHEL Power Projects Pvt. Ltd, BF NTPC Energy Systems Ltd (BFNESL) and NTPC-Telk, a tie-up with Transformers and Electricals Kerala Ltd. The company is considering restructuring for proper management and on account of the limited resources. It is important to note here that while NHL was set up to develop small- and medium-sized hydropower projects, whereas NTPC-Alstom, was set up for renovation and modernization of power plants. The spokespersons from all the involved entities have declined to comment. The stock of the company is trading in the green.

Auto stocks have been trading mixed as well with Ashok Leyland, Tube Investments and Force Motors leading the pack of gainers. However, Maharashtra Scooters and Bajaj Auto are trading weak. As per a leading financial daily, Maruti Suzuki Ltd will not be able to launch its 660cc 'K' cars in the Indian market to be displayed at auto expo in January 2012 on account of high prices. The model in question was seen as Nano competitor. The management however says that these models have higher technology level than a Nano ('K' cars offer mileage as much as 30.2 kmpl while Nano returns 25 kmpl of petrol) and will not be launched as per the schedule as they will turn out too costly for the Indian market where customers usually associate the engine capacity with the price of a car while buying. It is important to note here that Nano has not been successful commercially and other leading automakers are not interested in entering this segment. The stock of the company is trading firm.

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Stock Market Updates

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

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ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

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ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

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ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

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