Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
In the Sensex pack, Bajaj Finance and Bajaj Auto ended up to 6.09 per cent higher after posting strong quarterly numbers.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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M&M saw its sales drop by 26.93 per cent to 15,881 units in December 2013. Last year also the company had shut down its tractor plants at Jaipur and Rudrapur for five days and two days, respectively, due to inventory pile up amidst falling sales.
The company announced on July 11 that it would stop production at its automotive plants for a period ranging from 1 to 8 days during the remaining period of the month.
Ford is among several multinational automobile companies in India for whom exports now bring bigger volumes than local sales.
Teams of both companies are collaborating on all areas of mutual interest including electrification, distribution and product development.
Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors and Toyota Kirloskar on Tuesday reported decline in domestic passenger vehicle sales in May compared to the previous month as a spike in COVID-19 cases and lockdowns across various states hit production and dispatches. The country's largest carmaker Maruti Suzuki India (MSI), which shut production from May 1 to May 16 so as to divert oxygen from industrial use for medical purposes, reported domestic dispatches to dealers at 35,293 units last month, down 75 per cent from 142,454 units in April. The company said sales of its mini cars, comprising Alto and S-Presso, declined by 81 per cent to 4,760 units in May as against 25,041 units in April this year.
Mahindra & Mahindra on Wednesday announced a 125 million Euro joint venture with French auto major Renault which will see the launch of mid-size 'Logan' in India by the first half of 2007.
Utility vehicle and tractor maker Mahindra and Mahindra on Tuesday said it plans to set up a manufacturing base in Brazil.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by HDFC Bank, Infosys, NTPC, Nestle India, TCS and HUL. NSE Nifty surged 337.80 points to 14,845.10.
Sun Pharma stole the show in the Sensex pack, spurting 3.91 per cent, followed by M&M at 2.87 per cent.
The BSE benchmark Sensex rose 192 points to end at 39,250 on Sunday as investors built up fresh positions in the special Muhurat trading session to mark the beginning of Hindu Samvat year 2076.
Domestic investors were also concerned about possible stagflation in India due to low growth and high inflation in wake of recently released government data. IndusInd Bank was the top loser in the Sensex pack, dropping 5.44 per cent. Infosys, SBI, PowerGrid, Tech Mahindra, Bharti Airtel and HDFC Bank too fell up to 1.21 per cent.
Tata Motors, Hero MotoCorp, Ashok Leyland, M&M are up 3-6% on BSE.
Dealers have stocked up vehicles in the run-up to a price hike, which is expected to be announced by leading players some time this month.
Major automakers, including Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia, Toyota and Honda, on Thursday reported healthy growth in passenger vehicles sales in June, recovering from the disruptions induced by the second wave of COVID-19. The country's largest carmaker Maruti Suzuki India (MSI) posted total sales of 1,47,368 units in June, up from 46,555 units in May. Its domestic dispatches to dealers last month stood at 130,348 units, up from 35,293 units in May, as easing of COVID-related restrictions helped the auto major to dispatch more units to dealerships.
The five-acre facility, set up by M&M through a joint venture with government owned company MSTC, went on stream in April this year
ONGC was the top loser in the Sensex pack, ending 3.48 per cent lower. Tata Steel, Vedanta, Bajaj Auto, TechM, RIL, Hero MotoCorp, Kotak Bank, Axis Bank, and Infosys too fell up to 2.33 per cent.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Mahindra & Mahindra Ltd has decided not to participate in the divestment of state-owned Punjab Tractors Ltd.\n\n\n\n
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Mahindra & Mahindra Ltd has lost the race to acquire the tractor business of Valtra in Finland and Brazil to US-based Agco, which had bid at euro 600 million.
Ajit Mishra answers reader queries on the stock market.
Bajaj Finance was the biggest gainer in the Sensex pack, spurting 3.64 per cent. Tata Motors, Infosys, Vedanta, ONGC, PowerGrid, NPTC, Axis Bank, ICICI Bank, Kotak Bank, SBI, HDFC Bank, Tata Steel, TCS and RIL too rose up to 3.48 per cent.
From discounts to hundred per cent financing to talks of a price hike, companies are doing everything to ensure retail sales pick up this month.
M&M's used car biz becomes the first private firm to tie up with a bank for conducting online auctions of repossessed and off-lease cars. Ajay Modi reports.
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