Posts filed under 'Automobile'
Moody’s Investors Service has cut the Japan Government debt to AA3 following the inability of Japan to control its debt since the 2009 global economy crisis and the revolving-door policy of leadership in the Government. This has triggered Asian stocks to slide early in the day despite the US stock markets rallying. Back in January 2011, Standard & Poor has cut its rating on Japan to AA-.
Dow Jones (Aug 23) closed the day at 11176.76 rallying 322.11 points while Nasdaq (Aug 23) closed at 2446.06 adding 100.68 points. The S&P 500 added 38.53 points and closed at 1,162.35.
Meanwhile, the Indian stock markets started their day with a lower opening made a small attempt to come and stay in the green territory but it could not survive the attempt. Stocks soon began to fall dragging the indices into the red. Things did not change despite the opening of the European markets that are largely in the green.
SENSEX closed the day at 16284.98 losing 213.49 (-1.29%). NIFTY is at 4888.90 by closing time losing 60.00 (-1.21%). CNX Midcap at 7266.30 losing 58.20 (-0.79%) while BSE Smallcap is at 7158.64 down 36.68 (-0.51%). All major sectoral indices are in the red.
There are no block buster moves today, at least in the large cap stocks. Power Grid Corp, Hindalco, Grasim, Ranbaxy Labs, HUL, Reliance Comm, Dr Reddys Labs, ONGC and HDFC closed the day with modest gains. However, there are more downward draging large cap names today. Tata Steel and Tata Power are both down over 4%. IDFC, Maruti Suzuki, Tata Motors, SBI, Axis Bank are down over 3% each. HCL Tech, Jindal Steel, Reliance Capital and L&T are down over 2%.
Automobile tyre major Apollo Tyres (BSE: 500877; NSE: APOLLOTYRE; ISIN: INE438A01022) is given an ‘Outperformer’ rating by Standard Chartered in its recent report. The stock has a target of Rs. 80. The script closed the day at Rs. 56.60.
Lupin (BSE: 500257; NSE: LUPIN; ISIN: INE326A01037) from the Pharmaceuticals space is gaining attention of market experts. Hitesh Sheth of Prabhudas Lilladher says the target for the stock is Rs. 515. Motilal Oswal too had a target of Rs. 514. PINC Research in its research report dt July 28, 2011 has put a target of Rs. 505. The script enjoys and EPS (TTM) of 16.25 and a P/E of 27.66. The industry P/E is at 10.46. The script closed the day at Rs. 449.50.
August 24th, 2011
The Indian stock markets could not get any cheer despite a positive opening from in the European markets. The markets opened in the red, in line with most of the Asian and the US markets but by noon, some respite was seen after the markets entered in the green territory. But this cheer did not last long as markets reversed course towards the red. The markets finally settled in the red losing about 0.50% today.
The SENSEX closed the day at 17059.40 losing 71.11 points (-0.42%). Nifty too ended in the red at 5138.30 losing 22.70 points (-0.44%). The CNX Midcap is at 7623.25 down 22.45 (-0.29%) while BSE Smallcap is at 7654.25 down 14.80 (-0.19%).
Top losers of the day include Tata Power, Axis Bank, Bharti Airtel, Maruti Suzuki, BHEL, HCL Tech, ICICI Bank, Jindal Steel, Bajaj Auto and DLF amongst others.
Top gainers of the day include HDFC, Reliance Infra, Kotak Mahindra, Reliance Capital (all up over 2%), NTPC and GAIL (both up over 1%) amongst others.
Citigroup has announced a cut in the year-end target for the BSE Sensex from 21,500 to 19,700. The cut is about 10% citing heightened uncertainty and lower earnings from corporates. Standard Chartered Capital Markets however is warning of a deeper cut and that considering the present situation, the markets could test 14-15k levels as well.
Bharat Forge (BSE: 500493; NSE: BHARATFORG; ISIN: INE465A01025) Q1 results are out today. The net profit is up 64% YoY to Rs 97.42 crore. Overseas operation revenue is up because of strong demand in the auto sector. Overseas PAT is at 54% to Rs. 11.1 crores.
August 11th, 2011
The Indian stock markets that saw some heavy downfall in share prices during the week managed to close the Friday marginally in the red. In fact, they made at least two big attempts to enter and stay in the green territory but the news flows, particularly the quarterly result announcements have made them to be changing course.
Sensex closed the day at 18197.2 down by 12.32 points. Nifty ended the day at 5482 and is down by 5.75 points. Autos, Banks, FMCG and IT sectoral indices closed the day in the green while Capital Goods, Consumer Durables, Health care, Metals and Oil & Gas scripts lost today.
ICICI Bank announced good set of numbers today. The Q1 net profit jumped up 30% at Rs 1332 crores. Dena Bank Q1 PAT is reported at Rs 168 crores. Axis Bank is one of the topper in todays gainers list as the script moved up 3% in trades today.
The losers list is lead by Sesa Goa that lost 5.4% today. Jindal Steel lost 4.14%. JP Associates is down 3.88 and ONGC and Ambuja Cements are down at 2.87% and 2.78% respectively.
Maruti Suzuki (BSE: 532500; NSE: MARUTI; ISIN: INE585B01010) is witness renewed interest in recent times, particular in the last two trading sessions. The script moved up Rs. 21.45 having had moved up Rs. 30-odd yesterday. The script closed that day at Rs. 1207.90. Sharekhan has given a Buy call in the script with a target of Rs. 1300 in a week-days time. Emkay gave an accumulate call with a target of Rs. 1400. Angel Broking too gave an Accumulate call with a target of Rs. 1322. PINC has a Buy call with a target of 1594. IIFL however fears the script to touch Rs 1174.
July 29th, 2011
India’s leading producer of storage batteries, Exide Industries, is getting increased coverage by brokerage houses that have recently seen the script to be having some reasonable upside left. The business model of the company, pricing power and capacity up gradations are few reasons why investors should consider trying out this share.
In its October 5, 2010 report, Religare Broking Research has given a buy rating to the script for investment purpose. They expect that Exide could deliver a 21% revenue CAGR in FY10-FY12.
Deutsche Bank has initiated coverage to the stock with a Buy recommendation. In its August 25, 2010 report, they gave the script a 12-month target of Rs. 180.
Daiwa Capital, in its September 24, 2010 report has upgraded the script from Hold to Buy and has given a target of Rs 178 to the script.
Spark Capital, in its October 14, 2010 report, made Exide as an Outperformer and has given a target of Rs. 189.
Angel Broking says the script can be Accumulated for a target of Rs. 171, according to its report dated September 29, 2010
Exide closed at Rs. 154.90 on NSE on October 27, 2010. Its 52-week high is Rs. 179.80 and 52-week low is Rs. 102.00
The company had Rs. 400 cr capex plan for the year. It reported Rs 1,127.20 crore turnover for quarter ended Sep 2010.
October 28th, 2010
Tuesday, September 09, 2008 11:46:41 AM IST
Markets are range bound in the last hour of trade and made few failed efforts to come out. Nifty is at 4441 down 0.91%. BSE Sensex slips by 145 points and is at 14799 levels and down by 0.97%. BSE Auto Index is down 1.08%. M&M, Hero Honda and Tata Motors are in the red.
CNX IT recovered a bit but is still down 0.84%. Bank Nifty is down 1.48%. CNX 100 is down 1% and CNX 500 is down 0.83%.
BSE Midcap and Smallcap indices are down 0.35% and 0.11% respectively. Top losing sectors on the BSE are Bankex, Auto, Metal and Realty.
M&M, Hero Honda are down over 2% while Tata Motors is down over 1.8%
1 U.S. dollar = 44.4998 Indian Rupees
1 U.S. dollar = 107.8632 Japanese Yens
1 U.S. dollar = 0.7094 Euros
1 Ounce Gold = $796.20
1 Barrel Crude Oil = $104.98
September 9th, 2008
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