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Eicher Motors reports 13% yoy decline in Dec’19 sales

Eicher Motors reported a 13% yoy fall in Dec’19 sales. The company sold a total of 50,416 units in December 2019 vs. 58,278 units in the year-ago period. All segments saw a dip in sales in the month. Year-to-date sales also fell 15% yoy. Exports also declined 14% yoy to 1,927 units in December. Eicher Motors Ltd is currently trading at Rs21,683.45 down by Rs387.6 or 1.76% from its previous closing of Rs22,071.05 on the BSE. The scrip opened at Rs22,160 and…

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Nifty opens below 12,250-mark tracking global cues

The domestic market opened on a negative note amid weakness in Asian peers on the final trading day of CY2019. HDFC twins, Reliance Industries, ICICI Bank, and Infosys were among the top laggards on the Sensex pack. On the sectoral front, Nifty media, FMCG, pharma and PSU bank were trading higher, while auto, financial services and metal traded in the red. The Indian rupee opened 5 paise higher at 71.26 against the US dollar. India VIX is up 2.2% at…

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Asian markets trade flat; Shanghai Composite index up ~1%

Asian markets opened in the negative territory in early trading and is trading flat now. Elsewhere in Asia, New Zealand, Indonesia are modestly lower, while Singapore and Taiwan are edging lower. Hong Kong and Malaysia are higher, while the Shanghai Composite index is up nearly 1%. On the international front, the media reports said that China’s industrial firms grew at the fastest pace in eight months in November. Industrial profits in November rose 5.4% from a year earlier to 593.9…

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Adani Green extends rally; gains 5%

Shares of Adani Green Energy were locked in the upper circuit limit for the third consecutive session on the BSE in an otherwise weak market. On December 16, Adani Green’s $362.5mn (about Rs2,570cr) bonds issue attracted the interest of investors worldwide, the company said on December 16. This was the first-ever deal from India to use an amortizing project finance type structure, giving foreign investors a chance to buy investment-grade bonds from India’s renewable energy sector, as per media reports.…

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Sensex, Nifty closed on Wednesday for Christmas

Indian Domestic equity markets, forex, money and commodity markets will remain closed on Wednesday on account of Christmas. Trading will resume on Thursday. Financial markets in Australia, Hong Kong, Indonesia, Malaysia, New Zealand, the Philippines, Singapore and South Korea are closed on Wednesday for a public holiday. Meanwhile, equity benchmark indices ended lower on Tuesday for the second consecutive session ahead of F&O expiry, led by the declines in Reliance Industries, HDFC twins and TCS. Yes Bank, Cipla, IndusInd Bank,…

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Markets trade higher led by media stocks

Indian benchmark indices opened flat on Tuesday with the Sensex down 14 points below 41,628, and the Nifty unchanged at 12,263. (9.18 AM).  Sectorally, all indices traded higher except Nifty IT. Nifty Media led gainers in early trade. Nifty Media was trading higher by 0.86%, led by gains in Zee Media, ZEEL, and Balaji Telefilms. Top gainers on the Nifty include ZEEL, Yes Bank, and IndusInd Bank, while HCL Tech, Bharti Infratel, and Infosys are among the top losers. India Vix was up 1.7% at 12.16. The Indian…

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Markets trade volatile; metal stocks lead

Indian benchmark indices opened lower on Monday with the Sensex down 86 points below 41,600, and the Nifty lower by 18 points at 12,253. (9.20 AM). The Sensex and Nifty are currently trading volatile. Sectorally, indices traded mixed. Nifty Metal led gainers, while Nifty PSU Bank lost the most. Nifty Metal was trading higher by 0.64%, led by gains in Vedanta, APL Apollo, and Hindalco.  Top gainers on the indices include Titan, Vedanta, and UPL, while Yes Bank, GAIL, and Reliance Industries are among the top losers. The…

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Dishman Carbogen down 3% after IT Dept visits co’s head offices & manufacturing sites

Dishman Carbgen Amcis Ltd. notified the exchanges that officials from the Income-Tax Department visited the Company’s Head Offices and Manufacturing sites in connection with search under Section 142 of the Income-Tax Act on December 19, and search enquiry is currently ongoing. As a law abiding corporate, the company said it is extending all co-operations in this regard. The company added that this has no impact on its routine operations. After conclusion, the company will be able to update the Stock Exchanges…

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Commodity Mantra Morning Update: Gold up, oil flat; base metals mixed

Gold On Thursday, Gold moved up as US house voted for Donald Trump impeachment. Spot Gold was trading up 2.36 dollar at $1,477.55, whereas Comex Gold Future was trading down 2.85 dollar or 0.19% at $1,481.25 per ounce.   MCX gold price has shown positive movement form lower levels during Wednesday’s session and closed at 37,912 levels. Gold price has faced resistance of its horizontal trend line at 38,010 levels on the hourly chart. MCX Gold price has faced resistance…

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GST Council to meet today: Lease rates, refund for exporters to be discussed

In today’s GST Council meet, real estate sector, refunds for exports and rationalisation of tax on lotteries are the topics which are expected to be discussed. It is also expected that the government may implement additional surcharges on the present GST slabs to imporve tax collection. The government could levy 2% cess on the present rates for sometime as per sources. Today’s meeting may clarify long-term lease rates, exempting those state leases of 30 years or more, or if the…

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