Marketmen said the reason behind so many firms seeing all-time lows was the ripple effect of deepening worries of a global economic slowdown, which dragged the benchmark Sensex down in morning trade today
Mumbai: As many as 132 companies declined to their all-time low levels in morning trade on the Bombay Stock Exchange (BSE) today as weak global cues dragged the benchmark Sensex down by over 300 points, reports PTI.
Among the companies that witnessed all-time lows were telecom PSU MTNL (down 4.84% to Rs34.35), Anil Ambani group firm Reliance Communications (down 4.15% to Rs72.65), telecom equipment manufacturer GTL Infra (down 3.80% to Rs10.61) and Network 18 group firm TV18 Broadcast (down 10.90% to Rs42.50).
In addition, ADAG company Reliance Power was down 2.86% to Rs81.40 and Sajjan Jindal-led JSW Energy was down 4.02% to Rs51.28.
The other major losers include telecommunications value-added services provider Onmobile Global, which fell 9.13% to a 52-week low of Rs55.70, KSK Energy (down 1.90% to Rs98.05), real estate firm DB Realty (down 3.36% to Rs64.55), state-run manganese ore producer MOIL (down 2.65% to Rs297.30) and state-run lender Punjab & Sind Bank (down 4.80% to Rs77).
Only seven companies, including Essar India, defied the broader market trend and soared to all-time high levels on the BSE.
The advances to declines ratio was huge, as only 552 scrips were advancing, while as many as 2,042 stocks were on a declining trend.
Marketmen said the reason behind so many firms seeing all-time lows was the ripple effect of deepening worries of a global economic slowdown, which dragged the benchmark Sensex down in morning trade today.
The Bombay Stock Exchange Sensex fell by 351.37 points in opening trade to 16,118.42 today, while the National Stock Exchange's 50-share Nifty index slipped below the 4,900-point mark with a fall of over 100 points.
Heavy selling was witnessed in IT and banking stocks, with blue-chips like Infosys, ICICI Bank, TCS and HDFC Bank falling sharply.
Meanwhile, Asian stock markets also plummeted by nearly 4% in intra-day trade today following overnight losses in the US market on weak economic data for the American economy and renewed concerns about the Eurozone debt crisis.
‘Hum Mein Hai Hero’, the new ad to announce that Hero Honda is now Hero MotoCorp, is predictable and uninteresting
Hero is no longer married to Honda. It is now called Hero MotoCorp. And this momentous occasion could not be allowed to go unnoticed. The Hero guys decided some song and dance was the order of the day. So there's a brand new commercial on air, and the theme is 'Hum Mein Hai Hero'. It has an 'anthem' to it, so that's why it was released on 15th August.
I like the core idea, which is that everyone needs to find the hero within himself/herself. What that has to do with the corporate re-branding exercise I have no idea. Perhaps, and this is a conjecture, it is Hero's attempt at self-introspection; that they now need to discover life minus the help of Honda. If so, the connection is tenuous and has little relevance to the viewer. In fact, as a bike purchaser, I am a little worried on the impact on product quality minus the Japs.
Anyway, let's discuss the creative. While the idea of finding the hero in oneself is powerful, and it emanates from the brand name, which is a good thing, the execution leaves a lot to be desired. The anthem-like jingle, composed by maestro AR Rahman, for a hefty fee of course, is quite dull and not happening. It does nothing for me. No flags flying feel which should have been the emotional response to this one. I must add here that the maestro is losing touch. Remember the silly jingle for the Commonwealth Games? I am now beginning to suspect Rahman's heart is in Hollywood and he's doing local work purely for the bucks.
Next, the stories in the ad-they are packed with unimaginative and trite situations. As you can predict, it's about people becoming heroes in their activities. So a little girl makes it as a gymnast. Another kid rocks it at a TV reality show. A sardarji (yes, you need one in a 'hamara desh' ad) decides to indulge in a steep climb, though he doesn't have the stamina. There's that trademark bungee jumper. And of course, there's a kid playing fabulous cricket shots. And lest you forget Hero is into bikes, the ad is peppered with bike shots.
In short, a very thakela ad. Very predictable and uninteresting imagery. What Hero needs to do is to tell us riveting real life stories of Indians who made it against all odds, whether those tales have to do with bikes or not. With a good core idea in place, the creative now needs to fly and bring out surprising situations.
Before we find the Hero in ourselves, the makers of this ad need to do so.