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.
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.
Global automobile majors are looking to leverage India's cost-competitive manufacturing practices and turn the country into an export hub for utility vehicles.
The Sensex was mainly dragged by Reliance Industries, HDFC, HDFC Bank, ICICI Bank and SBI, which lost up to 3.35 per cent.
In the Sensex pack, losers included TCS, HUL, Tata Steel, HCL Tech, Infosys, Bajaj Finance, HDFC, IndusInd Bank, Asian Paints, ITC and Vedanta, shedding up to 3.70 per cent.
Stick to export-focussed plays, large-caps, say analysts
This new compact SUV is offered in SLE, SLX and ZLX variants
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
The gains in IT majors were negated by losses in heavyweights like L&T, ITC, HUL and M&M.
Other top losers in the Sensex pack included Bharti Airtel, Asian Paints, TCS, HCL Tech, Tata Steel, SBI, IndusInd Bank and Hero MotoCorp, declining up to 3.28 per cent.
Yes Bank was the top gainer in the Sensex pack, soaring 24.03 per cent, after the lender said it had received a binding offer for $ 1.2 billion funding from an overseas investor. SBI, Infosys, Tata Motors, Bharti Airtel, HCL Tech and HDFC too rallied up to 7.69 per cent.
Tivoli has turned out to be the best-selling vehicle from SsangYong in its 62-year history, Ajay Modi reports from New Delhi.
The broader NSE Nifty sank 177.65 points or 1.53 per cent to 11,419.25.
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
Auto companies are now grappling with a slowdown in sales, triggered by pent up demand due to the COVID-led lockdown easing a bit and supply-side issues for raw material.
The country's biggest carmaker is now more valuable than the combined market cap of the three leading automobile companies in the country: Tata Motors (Rs 1,18,684 crore), M&M (Rs 86,336 crore) and Ashok Leyland (Rs 34,700 crore).
The list of companies skipping dividends in FY19 includes some of the country's largest firms and industry leaders such Tata Motors, Avenue Supermart, Future Retail and Vodafone Idea, among others.
Investors have been concerned about M&M's diversification into non-core businesses but the company is taking the right measures to build their confidence.
Ajit Mishra answers reader queries on the stock market.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
Mahindra to replace ageing models with new ones, especially the popular XUV500.
Analysts believe that new companies getting into banking space will look at acquiring old private banks. Following this view, there has been a significant rally in banking stocks.
Amid stalled wage renewal talks, union functionary suspended, triggering work stoppage.
Most companies operate through a rural development sales consultant.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Mahindra & Mahindra would not be an aggressive bidder to take over Aston Martin.
US endurance swimmer Sarah Thomas has become the first person to swim across the English Channel four times without stopping.
Oil and select auto heavyweights bore the brunt of selling pressure; ONGC, RIL, Tata Motors, M&M key losers.
Other gainers include ONGC, Bajaj Auto, Kotak Bank, TCS, Tata Steel, Axis Bank, Maruti, HDFC and HUL, surging up to 3.03 per cent.
As competition heats up in the multi-utility vehicle (MUV) segment, the country's leading utility vehicles player Mahindra and Mahindra (M&M) plans a flexible manufacturing line for its latest launch the compact SUV Quanto to capture market share.
Yes Bank was the biggest gainer in the Sensex pack, rallying 4.06 per cent. Other gainers were Coal India, Infosys, PowerGrid, Vedanta, Reliance, TCS, HUL, ONGC, HCL Tech, IndusInd Bank, HDFC Bank and Asian Paints, gaining up to 2.72 per cent.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
Rajesh Jejurikar had quit M&M to join Zee Entertainment Enterprise.
The broader NSE Nifty plunged 119.15 points, or 1.01 per cent, to 11,709.10.
The different tax structures for smaller and larger vehicles in the Indian market have resulted in the emergence of a unique category of compact sub-four-metre sedans and utility vehicles that are gaining favour among consumers. Come mid-2013, half-a-dozen sub-four-metre vehicles will be on road.
The different tax structures for smaller and larger vehicles in the Indian market have resulted in the emergence of a unique category of compact sub-four-metre sedans and utility vehicles that are gaining favour among consumers. Come mid-2013, half-a-dozen sub-four-metre vehicles will be on road.
Workers at utility vehicle major Mahindra & Mahindra's Nashik facility on Tuesday issuing a notice to the management to go on strike on or after March 11, if their demands for higher wages were not settled by the company.
While some carmakers are lowering their sales targets, Maruti Suzuki DZire, M&M XUV500 and Renault Duster are selling strong.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
