We had mentioned in Monday’s closing report that Nifty, Sensex were moving sideways. The major indices slipped and closed with major losses. On the NSE, there were 512 advances, 1,279 declines and 353 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
Selling in IT and media stocks led the benchmark Sensex to lose 60 points during the early trade on Tuesday after it managed to open in the green.
Stock price of Yes Bank fell as much as 5% ahead of the crucial board meet to take call on the investment offers that the bank has received. Investors pushed the sell button over reports that the bank may decline to accept the $1.2 billion investments offer by the controversial Canada based Erwin Singh Braich.
Domestic automobile sales continued to decline in November with the overall sectoral off-take plunging 12.05% on a year-on-year basis. Segment wise, the off-take of passenger vehicle sales during the month under review slipped by 0.84% to 263,773 units this November on a year-on-year basis.
Net inflows into equity mutual funds dipped sharply to multi-year lows in November as on one hand, outflows from credit risk funds continued, while inflows into equity funds fell as much as 85%.
Tariff hikes can double EBITDA of telcos and sustainability of hikes and funding of adjusted gross revenue (AGR)-related dues are the key monitorables, said rating agency Crisil. The steep tariff hikes of up to 50% is being implemented by telecommunication companies. Telcos have the potential to double the industry's EBITDA next fiscal. This is a structural positive for an industry weighed down by weak cash flows and mounting debt, says Crisil.
NSE has launched interest rate options on 10-year government bonds to provide institutional investors ability to manage risk.
ProConnect, a wholly owned subsidiary of Redington India, has acquired remaining 12% stake in Rajprotim Supply Chain Solutions. The 12% stake was acquired for a consideration of Rs.11 Crores. With this acquisition, the total holding of ProConnect in RCS is increased from 88% to 100%.
CRISIL Limited has downgraded PC Jewellers long term and short terms ratings to the bank loan facilities to CRISIL D i.e. default grade.
The Tata Motors Group global wholesales in November 2019, including Jaguar Land Rover, were at 89,671, lower by 15%, as compared to November 2018.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in November 2019 were at 31 ,030, lower by 19%, over November 2018. Global wholesales of all passenger vehicles in November 2019 were at 58,641, lower by 12% as compared to November 2018. Global wholesales for Jaguar Land Rover were 48,105 vehicles.
Jagran Prakashan has announced a buyback of the for an aggregate amount not exceeding Rs101.25l akhs at a price not exceeding Rs75.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: