Here Are a Few Relevant Results "TATA"

More    →
  • The Sensex and the Nifty were trading with small losses in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 42.39 points or 0.12% at 35,855.96. The Nifty 50 index was down 8 points or 0.07% at 10,781.85.

    The indices opened lower, but bounced back in morning trade. The recovery was short lived as indices slipped once again in mid-morning trade. Investors sentiment was fragile due to negative global cues.

    Broader market was trading higher. Among secondary barometers, the BSE Mid-Cap index was up 0.32%. The BSE Small-Cap index was up 0.70%.

    The market breadth, indicating the overall health of the market, was positive. On BSE, 1388 shares rose and 662 shares fell. A total of 118 shares were unchanged.

    Most private sector banks rose. City Union Bank (up 0.31%), IndusInd Bank (up 0.51%), RBL Bank (up 0.64%), ICICI Bank (up 0.84%) and Yes Bank (up 1.77%), edged higher. Federal Bank (down 0.56%), HDFC Bank (down 0.39%) and Axis Bank (down 0.08%), edged lower.

    Kotak Mahindra Bank was down 3.51% at Rs 1243.65, following a series of bulk deals on the stock exchanges. Media reported on Thursday that ING Group could sell around 1.20% stake in the private sector lender through block deals at an offer price of in the range of Rs 1,125-1,250 per share. ING Mauritius Investments held a 3.06% stake in Kotak Mahindra Bank as of 31 December 2018.

    PSU banks were mixed. State Bank of India (up 0.82%), Punjab & Sind Bank (up 0.78%), United Bank of India (up 0.65%), Corporation Bank (up 0.49%), Dena Bank (up 0.36%), Syndicate Bank (up 0.3%), Bank of India (up 0.24%) and Punjab National Bank (up 0.07%), edged higher.

    Bank of Baroda (down 0.24%), Canara Bank (down 0.27%), Vijaya Bank (down 0.36%), Bank of Maharashtra (down 0.39%), Union Bank of India (down 0.49%), Indian Bank (down 0.79%), Central Bank of India (down 1.73%), IDBI Bank (down 2%) and Allahabad Bank (down 2.05%), edged lower.

    BEML rose 3.27% after the company signed a certificate of partnership with Lockheed Martin Aeronautics Company to explore global & domestic opportunities. The announcement was made after market hours yesterday, 21 February 2019.

    BEML signed a Certificate of Partnership with US-based Lockheed Martin Aeronautics Company. This step opens up avenues for collaboration between the two companies to explore manufacturing of support equipment opportunities in aerospace. The Aerospace Division of BEML in Mysuru and the upcoming aerospace facility at SEZ near Bengaluru is to take advantage of the domestic and global opportunities in the ever-expanding aerospace market and benefit from the Offset policy laid down for defence procurement by Government of India.

    Meanwhile, the Reserve Bank of India (RBI) on Thursday released the minutes of the Monetary Policy Committees meeting held on February 5-7. Governor Shaktikanta Das has said that the neutral stance of the central bank will provide flexibility and the room to address challenges to sustained growth of the Indian economy over the coming months, as long as the inflation outlook remains benign.

    In his statement, Das said that global growth was losing traction amidst lingering trade tensions and uncertainty around Brexit. On the positive side, crude oil prices remain soft, though the benefit for net exports could be restricted due to slowing global demand. GDP growth for 2019-20 is projected at 7.4% - in the range of 7.2-7.4% in H1, and 7.5% in Q3 - with risks evenly balanced.

    Das noted that the CPI inflation print of December at 2.2% continued to surprise on the downside. The RBI Governor also believed that the outlook for food inflation was expected to be benign in the backdrop of excess domestic supply conditions in many food items. CPI inflation is projected at below 4% in the remaining four quarters - 2.8% in Q4:2018-19, 3.2-3.4% in H1:2019-20 and 3.9% in Q3:2019-20 - with risks broadly balanced.

    Overseas, Asian shares declined, following a negative closing in the US stocks after the release of a stream of disappointing global economic data on Thursday. Investors continue to closely watch high-level talks between US and Chinese trade negotiators in Washington, with little more than a week left before a US-imposed deadline for an agreement expires, triggering higher tariffs.

    US stocks finished lower Thursday as fresh economic data out of Europe and Japan suggest further slowing in global growth. Concerns about slowing global growth were underscored by the release of surveys from Europe and Japan that showed manufacturing contracting in February, with export-dependent German manufacturers reporting the worst drop in activity in more than six years.

    In US, Decembers durable goods data showed a surprise slowdown in business spending. The Philadelphia Fed manufacturing survey fell to minus 4.1, the first negative number since May 2016 and the biggest drop since August 2011. Markit PMI data also showed manufacturing activity at the slowest pace in 17 months.

    Powered by Capital Market - Live News