An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
Investors were seen in a cheerful mood and widened their positions in frontliners as well as midcap and smallcap stocks to mark the beginning of their new accounts
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The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
RIL, HDFC twins, M&M, Infosys among the top losers for the day.
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
Yes Bank, Wipro, Kotak Bank, M&M, Sun Pharma, Maruti, HDFC, Hero MotoCorp, Infosys, TCS, L&T, Bajaj Auto and HUL were among the top gainers, rising up to 6 per cent.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
Home-grown automotive players like Tata Motors, Ashok Leyland, Bajaj Auto, Hero Honda, TVS Motors and Maruti Suzuki are augmenting the use of plastics in engine components in an ambitious effort to reduce dependence on key metals like steel and aluminium, all of which have witnessed stupendous rise of 35-50 per cent in the past 5 months.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
Top laggards in the Sensex pack included HDFC, ICICI Bank, TCS, HCL Tech, Kotak Bank, Asian Paints, TechM and HUL, dropping up to 2.67 per cent.
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Cyrus was always very different. He would think before acting.'
buyer. Car companies on Monday reported double-digit increases in sales in April 2010 over April 2009.
Technology firm Wipro has a "high probability" of getting included in the benchmark Sensex, while two-wheeler major Bajaj Auto is the "most likely" deletion candidate, according to an analysis done by Brian Freitas, an analyst at independent research provider Smartkarma. The changes to the index will be announced mid-November, and will become effective from December 17. The December review uses the 6-month average market capitalisation and trading turnover data between May 1 and October 31 to determine changes.
At the close, the 50-share NSE Nifty was at 8,611.15, up 19.90 points, or 0.23 per cent, after moving between 8,637.15 and 8,555.20.
The broader markets, however, outperformed the benchmark indices -- BSE Midcap and Smallcap indices ended up 0.6%-1%.
Stocks of companies having operations and exports to Europe were the top losers.
After a string of foreign deals in the last few years, including Tata Motors' purchase of Land Rover and Jaguar brands from Ford for $2.3 billion this year, attempts by Indian companies to acquire assets abroad are increasingly hitting roadblocks. At least, the recent attempts by Indian companies suggest so.
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In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
The index rising for the fourth straight session surged 564 points.
Coal India was the biggest gainer on both Sensex and Nifty
The rally was led by IT stocks, with TCS and Infosys rising up to 5 per cent. Yes Bank, on the other hand, was the biggest loser on both the bourses, cracking nearly 12 per cent
Indian corporates have raised around $11.9 billion through overseas borrowing in the first five months of 2007-08, according to the Reserve Bank of India (RBI) data on external commercial borrowings (ECB).
Markets end almost flat, bluechips in focus.
Gains were led by index heavyweights Reliance Industries and Infosys.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
Automaker Toyota Kirloskar Motor (TKM) on Tuesday said it will increase prices of its entire model range by up to 2 per cent with effect from October 1 in order to partially offset the impact of rise in input costs. The company, which is a joint venture between Japan's Toyota Motor Company and Kirloskar Group, sells a range of vehicles including Innova Crysta and Fortuner in the domestic market. The company will realign the prices of its models, with effect from October 1, 2021, TKM said in a statement.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
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