Indian share markets ended on a negative note yesterday.
Benchmark indices edged lower, tracking weak cues from Asian peers as investors weighed the impact of rising Covid-19 cases, ahead of the release of China's state data on factories.
At the closing bell yesterday, the BSE Sensex stood lower by 186 points (down 0.4%).
Meanwhile, the NSE Nifty closed lower by 66 points (down 0.4%).
Power Grid Corp and Cipla were among the top gainers.
IOC and ONGC, on the other hand, were among the top losers.
The BSE Mid Cap index and the BSE Small Cap index ended down by 0.4% and 0.1%, respectively.
Sectoral indices ended on a negative note with stocks in the metal sector, banking sector and auto sector witnessing most of the selling pressure.
Healthcare and FMCG stocks, on the other hand, witnessed buying interest.
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Gold prices for the latest contract on MCX were trading down by 0.4% at Rs 46,800 per 10 grams at the time of closing stock market hours yesterday.
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Among the buzzing stocks today will be Tata Motors.
Tata Motors said that the company will aggressively push its presence in the electric vehicles (EVs) space and launch ten new electric vehicles by 2025 in India.
The company, which has the largest share of India's electric car market, will also invest in lithium-ion cell manufacturing in India and Europe to establish a proper supply chain for its zero-emission vehicles in the coming decade.
Addressing shareholders in the annual report for the financial year 2021, Tata Motors Chairman, N Chandrasekaran said -
This comes at a time when the government is nudging automobile makers to develop and manufacture EVs to reduce carbon footprint, and has brought out policies offering incentives to buyers opting for such vehicles.
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In the Union Budget 2021-2022, the government announced the lowering of goods and services tax (GST) on EVs to 5% from 12%, and offered income-tax incentives to individuals purchasing EVs.
Currently, Tata Motors has two fully electric models Nexon EV and Tigor EV in the market. The electric version of the Altroz is expected to be launched in the coming months.
HDFC Life Insurance share price will also be in focus today.
UK's Standard Life, one of the promoters of HDFC Life Insurance Company, is looking to sell up to 70 m shares or a 3.46% stake in the insurance company through a block deal today to raise up to Rs 46.1 bn.
The term sheet for this was issued by BofA Securities and JP Morgan on Monday.
The sale price has been fixed at Rs 658-678 per share, which is a 1.5-4.4% discount to yesterday's closing price of Rs 688.
Standard Life held 8.88% stake in the company.
Standard Life had sold 27.8 m shares of the insurance company in December last year to raise about Rs 17 bn to reduce its stake from 10.27% to 8.88%.
Since HDFC Life's IPO in November 2017, the UK-based firm has divested a nearly 26.12% stake.
Standard Life held a 35% stake pre-initial public offer, which was reduced to 8.88% at the end of December 2020.
After the recent deal, Standard Life will hold 5.42% in HDFC Life.
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National Aluminium Company Limited (NALCO) reported a nine-fold rise in consolidated profit at Rs 9.4 bn for the March 2021 quarter helped by strong operational performance and favourable prices. The company had posted a consolidated profit of Rs 1 bn in the March 2020 quarter.
The consolidated income of the company also increased to Rs 28.7 bn, compared to Rs 20.4 bn in the same period last year.
Commenting on the results, NALCO Chairman and Managing Director, Sridhar Patra said -
Attributing the success to the teamwork and dedication of employees, Patra said the company has made exemplary contributions in putting a focus on plant, production, productivity and people.
The results were driven by a strong operational performance by units, with effective sales strategy, cost-saving measures, supported by favourable LME price, the company said.
Rail India Technical and Economic Services (RITES) has bagged two major railway electrification orders from Ministry of Railways and a consultancy assignment from Metro Express Mauritius.
RITES will be undertaking railway electrification work on the Mysore - Hassan - Mangalore railway route, amounting to Rs 4.6 bn. It will also be executing work between Lumding and Badarpur, worth Rs 2.9 bn.
Metro Express, Mauritius has awarded RITES additional consultancy services work for extension of the mainline from Rose Hill to Reduit through Ebene for a fee of Rs 450 m approximately.
RITES is a Miniratna public sector enterprise and a leading player in the transport consultancy and engineering sector in the country.
We will keep you updated on the latest news from this space. Stay tuned!
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
What else is happening in the markets today? Dig in...
Indian share markets ended on a negative note with the Sensex down by 186 points and the Nifty ending down by 66 points.
Jun 29, 2021 12:30 pmBSE Sensex is trading down by 155 points, while the NSE Nifty is trading down by 55 points.
Jun 29, 2021 09:30 amIndian share markets open flat. The BSE Sensex opened down by 12 points, while the Nifty is trading lower by 5 points.
Jun 29, 2021 09:40 AMTATA CONSUMER share price has hit an all time high at Rs 771 (up 0.6%). The BSE FMCG Index is up by 0.7%. Among the top gainers in the BSE FMCG Index today are TATA CONSUMER (up 0.6%) and NESTLE (up 0.3%). The top losers include GILLETTE INDIA (down 0.2%) and KRBL (down 0.2%).
Jun 29, 2021 09:38 AMGODREJ AGROVET share price is trading up by 6% and its current market price is Rs 641. The BSE FMCG is up by 0.7%. The top gainers in the BSE FMCG Index are GODREJ AGROVET (up 5.7%) and GSK CONSUMER (up 5.1%). The top losers are GILLETTE INDIA (down 0.2%) and BRITANNIA (down 0.4%).
Jun 29, 2021 09:34 AMPERSISTENT SYSTEMS share price has hit an all time high at Rs 2,793 (up 3.1%). The BSE IT Index is up by 0.2%. Among the top gainers in the BSE IT Index today are PERSISTENT SYSTEMS (up 3.1%) and L&T INFOTECH (up 0.4%). The top losers include HEXAWARE TECHNOLOGIES and TECH MAHINDRA (down 0.2%).
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