Shares of auto components maker <keyword id="279618" type="General" weightage="20" keywordseo="samvardhana-motherson" source="Orion">Samvardhana Motherson</keyword> International Ltd (SMIL) on Wednesday jumped 10% after the company said it will acquire 81% stake in the four-wheeler business of Yachiyo Industry, a Honda Motor subsidiary. The stock rallied 8.69 per cent to hit its 52-week high of Rs 92.50 on the BSE. At the NSE, it jumped 9.98 per cent to Rs 93.65 -- its 52-week high level. The company has entered into a partnership with Honda Motor under which it will form a 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, SMIL said in a statement. Yachiyo Industry Co Ltd is a publicly listed firm on the Tokyo Stock Exchange. It is a subsidiary of Honda Motor Co Ltd. It has four-wheeler (4W) and two-wheeler (2W) businesses. "As a part of the overall transaction, the 2W business will be transferred to Honda Motor before Motherson acquires 81 per cent stake in Yachiyo's 4W business," the statement said.

Auto parts maker Samvardhana Motherson shares hit 52-week high

<ul><li>Deal making volume fell by 21% in 2023 to 1,641 deals as compared to the year before.</li><li>Large deals become much rarer with only eight multi-billion-dollar deals.</li><li>PE deals fell in both value and volumes due to startup funding winter effect.</li><li>QIPs saw a multi-fold surge in 2023, overtaking IPOs in funds raised. </li></ul>The stock market may have hit new highs in 2023, but deal making activity continued to battle the liquidity crunch. India’s deal making slumped in 2023. In terms of value, it slipped by 52% to $66 billion compared to 2022. At 1,641 deals in total, its volumes also shrunk by 21%, as per a report by <keyword id="20000180" type="General" weightage="20" keywordseo="grant-thornton" source="keywords">Grant Thornton</keyword>. "While it was expected that the positive trend of deal-making would continue to revitalise funding in 2023 following India's strong position in global markets in 2022, it was hindered by the lack of liquidity in international markets, volatile market conditions, and cautious investor sentiment,” said <keyword id="20252534" type="General" weightage="20" keywordseo="shanthi-vijetha" source="keywords">Shanthi Vijetha</keyword>, partner, growth at <keyword id="20034170" type="General" weightage="20" keywordseo="grant-thornton-bharat" source="keywords">Grant Thornton Bharat</keyword>. Large deals have also become much rarer in 2023, than they were in the year before. The year saw only eight multi-billion-dollar M&amp;A and PE deals totalling $12.5 billion, as compared to eight totalling $26.2 billion in 2023. M&amp;A deals which started off very slow last year saw an uptick in the second half. Domestic deals dominated the landscape, with 350 deals valued at $14.4 billion. Inbound activity witnessed substantial growth, featuring 84 deals totaling $7.7 billion. Outbound activity remained stable, with values declining significantly from $17.9 billion in 2022 to $3.2 billion this year. <keyword id="20032926" type="General" weightage="20" keywordseo="samvardhana-motherson" source="keywords">Samvardhana Motherson</keyword> executed five outbound transactions valuing $879 million contributing to 28% of the overall activity. Top 5 M&amp;A deals in 2023 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Acquirer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deal value </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Suraksha Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jaypee Infratech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.45 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Siemens AG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Siemens </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.2 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Walmart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart Online Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.4 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TV18 Broadcast </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Network18 Media &amp; Investments </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.2 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Proximus Opal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Route Mobile </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$721 mn </td></tr></tbody></table>Source: Grant Thornton PE activity continued to slip sharply as funding winter chilled the startup ecosystem. The largest PE deal was Temasek Holdings’ investment in Manipal Health Enterprises for $2 billion. Startup funding went down by 42% in 2023, but there were pockets of activity. Retail startups led in deals, making up 20%, followed by fintech and SaaS start-ups. E-commerce and IT sectors followed, with 181 deals worth $5.5 billion. “Despite witnessing overall decline, the banking (financial services), energy (cleantech), manufacturing, and real estate sectors experienced a surge in deal activities. Sectors such as pharma (hospitals and biopharmaceuticals), energy (cleantech), retail, and real estate attracted significant investments,” Grant Thornton said. India’s deal activity breakdown <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deal Type </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY % change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Volume </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY % change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$25.2 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-72% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">494 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PE </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$27.4 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-23% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,045 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPOs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.2 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-24% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIPs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$7 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6x </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$66 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-52% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,641 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21% </td></tr></tbody></table>Source: Grant Thornton QIPs surge ahead of IPOs While primary market activity surged in 2023, the value of total funds raised declined due to the impact of LIC’s IPO in 2022. Here too, the activity surged sharply in the second half after the stock markets revived. “In 2023, India's IPO market thrived due to robust domestic demand fueled by a growing middle class and increased retail participation in the stock market,” the report observed. Qualified institutional placements (QIPs) however overtook IPOs, to raise as much as $7 billion. The size of fund raising surged 3.6 times over, and deal volume also went by 2.2 times. “This surge in QIP activity signals an improving investor outlook on the Indian market amid anticipated economic growth. The manufacturing sector led with 15 QIPs, followed by the banking and financial services sector with 12 QIPs,” said Grant Thornton. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/pe-and-vc-investors-make-a-killing-in-the-2023-bull-market/articleshow/104034840.cms">PE and VC investors make a killing in the 2023 bull market</a> <a href="https://www.businessinsider.in/business/corporates/news/avenue-supermarts-many-roadblocks-to-clear-on-its-growth-runway/articleshow/106863616.cms">Avenue Supermarts: Many roadblocks to clear on its growth runway</a>

India’s deal making stayed cautious in 2023, declined by over half to $66 bn

<ul><li><keyword id="279618" type="General" weightage="80" keywordseo="samvardhana-motherson" source="Orion">Samvardhana Motherson</keyword> hit a 52-week high on Wednesday, and has kept up with its run on Thursday.</li><li>Yachiyo acquisition will have an earnings upside say brokerages which have upgraded its target price.</li><li>The company can gain from new market access in addition to a better product mix from the acquisition. </li></ul>The stock of auto component company Samvardhana <keyword id="135627" type="General" weightage="100" keywordseo="motherson" source="Orion">Motherson</keyword> has been on a bull run after it announced two strategic acquisitions. It has hit a 52-week high on Wednesday, and has kept up with its run even on Thursday — aided by brokerage upgrades. The Noida-based company has reached an agreement to acquire 81% of Yachiyo’s four-wheeler business for 117 million Euro; in addition to a $14 million investment into Prysm Systems which makes touch-enabled display screens. As per J M Financial, the Yachiyo acquisition is attractively valued as its 1.7 times the trailing EBITDA and 0.2 times the sales. “Transaction closure is expected by 1QFY25 and will be funded through internal accruals,” says J M Financial. Yachiyo is a strategic supplier to Honda Motors, and has a decades-long relationship with the Japanese auto major. Honda also has a stake in Yachiyo. Following the acquisition, Motherson will form an 81:19% strategic partnership with Honda Motors, which owns the rest of the stake in <keyword id="17917515" type="General" weightage="50" keywordseo="yachiko" source="Orion">Yachiko</keyword>. Sunroofs in the mix Yachiko mostly manufactures and supplies sunroofs where it has a 9% global market share; in addition to fuel tanks. This addition will propel Samvardhana Motherson into the global markets, “This acquisition would help Samvardhana Motherson partner with <keyword id="72707" type="General" weightage="20" keywordseo="honda-motor" source="Orion">Honda Motor</keyword> for global business, access strong R&amp;D capabilities in sunroof and fuel tanks, foray into the global sunroof market,” says J M Financial. Sunroof systems have high growth potential globally, with increasing adoption across segments. “It (Yachiko) is also developing next gen products like lightweight tailgate module etc,” says a research note by Nomura. Moreso, it gives Samvardhana Motherson a leg up when it comes to cross-selling its existing products to Honda Motor, and diversifying its product and client mix. As of now, Volkswagen, Audi and <keyword id="6381274" type="General" weightage="50" keywordseo="mercedes-benz" source="Orion">Mercedes Benz</keyword> are its biggest customers, in addition to Indian auto major Maruti Suzuki. A large part of the products Motherson makes are wiring harness, vision systems, bumpers, door panels and more. More importantly it gives Motherson a headway into the Japanese market, where it can build relationships with other automakers. “Further upside can come from its ability to add new customers across Japan, USA and EU. Japanese OEMs are likely to be the biggest beneficiary of a US recovery due to very low inventory, and EU growth estimates have also been revised up,” says Nomura. Past performance on D-Street In the last one year, the stock has been volatile as it hit two steep lows once in October last year, and March this year, before rising steadily. It has given 13% returns in the last one year, and performed better over a six-month period — with 20% returns. Market analysts are however betting on it to have a better run-rate ahead. The stock is hovering around ₹90, but J M Financial has a target price of ₹120. Nomura too recently upgraded it to ₹105, after the acquisition as it believes the acquisition will give it earnings upsides. J M Financial however sees value beyond the acquisition too. “Easing supply chain, sustained recovery in global auto sales, higher operating leverage and improving profitability is expected to drive return on capital employed (ROCE) going ahead,” the brokerage firm says. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="534792756"> $MOTHERSON.NSE looks very strong on charts. The rally is sustainable in my opinion as the auto sector is in tailwinds and is doing well at the moment. The share formed a double bottom around 60 and has since rallied back up. Previous high could be a good target and therefore, levels of 120 can be expected in the coming months. If the stock breaks above 120, then it would end its long term correction and one can expect further rally. &mdash; (@thebullofdalalstreet) <a href="https://stocktwits.com/thebullofdalalstreet/message/534792756"> July 06, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> SEE ALSO <a href="https://www.businessinsider.in/business/news/fmcg-q1fy24-preview-dilemma-between-price-cuts-and-volume-growth/articleshow/101519331.cms">FMCG sector Q1 preview — Caught between price cuts and volume growth</a> <a href="https://www.businessinsider.in/business/auto/news/evs-hold-investor-attention-even-as-startup-funding-drops-sharply-in-h1-2023/articleshow/101532156.cms">EVs hold investor attention even as startup funding drops sharply in H1 2023</a>

Samvardhana Motherson set to bloom from its Japanese play

<img class="gwt-Image" src="/photo/48569986.cms" style="width: 800px; height: 600px;" /> The Bears are in full control of <keyword id="6355178" type="UNKNOWN" weightage="100" keywordseo="Dalal-Street">Dalal Street</keyword> as the <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> plunged below the 200-day moving average and hit a fresh 2-month low in early Friday deals as a global sell-off in equities accelerated in Asia. The fear Index jumped 6.2 percent. 
 
The Nifty dropped 117 points to 8,255, its lowest since June 29 as the bulls ceded space on the broader market. The Advance-Decline Ratio plunged to 2/48 on the Nifty. Banks were worst hit: Yes Bank, Bank of Baroda, State Bank of India, Bharti and PNB took the first five losing slots on the Index. The only shares to gain and that too with very low volumes were Ambuja Cements and TCS. 
 
SBI was the most active stock on the NSE, with 90 crore rupees worth of shares changing hands in the first 20 minutes of trade. Yes Bank and Infosys saw heavy action in initial trades. All three stocks were active on the down side. 
 
Broader indices posted larger losses. The CNX 100, CNX 200 and CNX 500 and CNX Nifty Junior, CNX Small Cap and the CNX Mid Cap Indexes lost between 1.6 percent and 2.8 percent in early deals on the NSE. All sectorial indices were bathed in red. The Bank Nifty lost 2.1 percent to 17,902. CNX PSU Bank index plunged 3.4 percent. Deep gashes were seen on CNX Auto, CNX Media, CNX Realty and CNX Finance Indices. 
 The mood was equally bearish on the Bombay Stock Exchange, where the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> shed 430 points, or 1.4 percent to 27,208 in the first 20 minutes of trade. The Advance-Decline Ratio stood at 2/28. Vedanta, Tata Motors, Hero Motors and State Bank of India were the top losers on the Sensex while Infosys and TCS were the only two stocks in the green. SBI was again the top traded counter on the Sensex. 
 
Bulls were literally on their knees in the futures and options space. There was just 5 gainers to 155 futures that lost ground on Friday deals in the derivatives segment. Motherson Sumi, Bharti, Canara Bank and Just Dial were the top 4 losers while Amtek Auto, Tata Comm and Jindal Steel posted gains. 
 
Bears took charge of the broader market. The Advance-Decline Ratio was 167 stocks that rose versus 1,158 that dropped. 
 
Majesco was the lone well-known stock that hit a fresh high on the NSE. Indian Hotels, Vakrangee, EMCO and Central Bank of India figured on the top volume buzzers list on the exchange. Cairn, Hindustan Zinc, Aban Offshore and IFCI were on the list of stocks hitting 52 week lows. 
(Image credits: Indiatimes)

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Auto parts maker Samvardhana Motherson shares hit 52-week high

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India’s deal making stayed cautious in 2023, declined by over half to $66 bn

Katya Naidu

Samvardhana Motherson set to bloom from its Japanese play

Katya Naidu

Bears in full control of Dalal Street today

Shailendra Bhatnagar