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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><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><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[]]></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>

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<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> surged in morning trade on Friday despite negative cues in global markets. </li><li>Leading the morning gains were IT, FMCG and PSU bank stocks. </li><li>Both the benchmark indices are up by 0.3%, with Sensex hovering at 62,079 points and Nifty50 hovering at 18,374 points.</li></ul>India’s benchmark indices Sensex and Nifty50 surged in morning trade on Friday despite negative cues in global markets. Leading the morning gains were IT, FMCG and PSU bank stocks. Both the benchmark indices are up by 0.3%, with Sensex hovering at 62,079 points and Nifty50 hovering at 18,374 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.66% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.27% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.48% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.10% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corporation </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.55% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.09% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhartti Airtel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.98% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.34% </td></tr></tbody></table> Source: NSE, as on May 26, 2023 Earlier on Thursday, markets closed in the green after a recovery in the fag-end of the trading session, closing 0.2% higher. Gold prices edged lower to ₹59,500 per 10 grams while silver was hovering at ₹70,200 per kilogram. Crude oil prices edged lower, with Brent crude hovering at $76 per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets remain in a flux over US debt ceiling" comment="subhead" text="Global markets remain in a flux over US debt ceiling">Global markets remain in a flux over US debt ceiling</cmsannotation> Global markets remained in a flux over the US debt ceiling crisis. While Dow Jones fell 0.11%, S&amp;P 500 closed 0.88% higher on Thursday. The tech-heavy Nasdaq rallied 1.71%. Sentiments in Asian markets were similarly mixed, with Hang Seng falling 1.97%, followed by Shanghai Composite which was down 0.55%. Taiwan Weighted was up 1.12%, while Nikkei 225 gained 0.97%. KOSPI edged up too, gaining 0.2%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6372205" type="General" weightage="80" keywordseo="zee" source="Orion">Zee</keyword> Entertainment: The media and entertainment company reported a net loss of ₹196 crore in the March quarter as against a profit of ₹182 crore a year ago. Revenue declined 9% YoY to ₹2,112 crore. Vodafone Idea: The telco trimmed its losses in the March quarter to ₹6,419 crore from ₹6,563 crore a year ago and ₹7,988 crore in the December quarter. Its revenue rose 3% YoY to ₹10,532 crore, while average revenue per user (ARPU) remained flat sequentially at ₹135. Reliance Industries: The company’s FMCG arm, Reliance Consumer Products, completed the acquisition of a 51% stake in Lotus Chocolates for ₹74 crore and also subscribed to the company’s non-cumulative redeemable preference shares for ₹25 crore. Earnings today: <keyword id="6354737" type="General" weightage="100" keywordseo="ongc" source="Orion">ONGC</keyword>, <keyword id="46869" type="General" weightage="20" keywordseo="mm" source="Orion">M&amp;M</keyword>, Sun Pharmaceuticals, Bharat Heavy Electricals, Avalon Technologies, Indigo Paints, Samvardhana Motherson International, TCI Express, Grasim Industries, among others. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lic-shares-surge-over-3-after-it-posts-a-five-fold-jump-in-q4-net-profit/articleshow/100495712.cms">LIC shares surge over 3% after it posts a five-fold jump in Q4 net profit</a> <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-titan-eicher-motors-tata-motors-reliance-and-other-big-companies-performance-in-nifty-50/articleshow/100474408.cms">Big boys drive Nifty50’s revenue and profit growth in FY23</a> <a href="https://www.businessinsider.in/business/corporates/news/gqg-partners-rajiv-jain-doubles-down-on-his-adani-bet/articleshow/100450041.cms">GQG Partners’ Rajiv Jain doubles down on his Adani bet</a>

Sensex, Nifty50 surge in morning trade led by IT, FMCG and PSU bank stocks

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Friday amid positive cues in global markets. </li><li>Energy and FMCG stocks emerged as the major drags. </li><li>While the 30-stock Sensex was down 0.12% or 72 points to 61,359, the 50-stock Nifty50 was down 0.2% or 34 points to 18,095.</li></ul>India’s benchmark indices Sensex and Nifty50 edged lower in morning trade on Friday amid positive cues in global markets. Energy and FMCG stocks emerged as the major drags. While the 30-stock Sensex was down 0.12% or 72 points to 61,359, the 50-stock Nifty50 was down 0.2% or 34 points to 18,095. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.05% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.21% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.67% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.64% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.59% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.59% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.01% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.46% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.63% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.18% </td></tr></tbody></table> Source: NSE, as on May 19, 2023 Earlier on Thursday, markets lost their initial gains and closed the day in the red dragged down by auto, pharma and FMCG stocks. Gold prices edged lower to ₹59,700 per 10 grams while silver was hovering at ₹72,100 per kilogram. Crude oil prices edged up, with Brent crude hovering at $76 per barrel. <cmsannotation type="cmsannotation" annotationid="Debt ceiling progress pushes markets up" comment="subhead" text="Debt ceiling progress pushes markets up">Debt ceiling progress pushes markets up</cmsannotation> Progress on the debt ceiling issue drove the US markets up on Thursday. While the Dow Jones closed 0.34% up, S&amp;P 500 gained 0.94%. The tech-heavy Nasdaq rallied 1.51%. Markets in Asia were largely positive, with Nikkei 225 gaining 1.03%, followed by KOSPI which was up 0.79% on Friday morning, while Taiwan Weighted gained 0.33%. On the other hand, Hang Seng fell 1.07% while Shanghai Composite was down 0.1%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> State Bank of India: The lender reported its highest ever standalone quarterly net profit of ₹16,695 crore in Q4 registering a growth of 83% on year beating analysts estimates. Its net interest income (NII) grew 29% on year to ₹40,393 crore. <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>: The cigarette to FMCG player reported a 22.66% on year jump in consolidated net profit at ₹5,225 crore for March quarter while revenue from operations rose more than 7% to ₹19,058 crore. InterGlobe Aviation: <keyword id="6354706" type="General" weightage="20" keywordseo="indigo" source="Orion">IndiGo</keyword> reported a net profit of ₹919 crore in March quarter, which is the second consecutive profitable quarter for India’s largest airline. Last year it posted a loss of ₹1,682 crore. Its revenue came in line with analysts estimates at 14,161 crore, growing by 76% on year. Reliance Industries: Chinese fashion giant Shein will be back in India as reports say it is in the process of a partnership with Reliance Retail. The Chinese company’s app was banned two years ago by the Indian government amid escalating border conflicts. Nazara Technologies: The company’s subsidiary Nodwin Gaming has signed definitive and binding agreements with existing investors Nazara, Krafton and JetSynthesys and new ones to raise ₹232 crore. Earnings today: Power Grid Corporation of India, JSW Steel, Punjab National Bank, <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, Delhivery, Glenmark Pharmaceuticals, Bandhan Bank, Muthoot Finance, Alkem Laboratories, JK Lakshmi, Motherson Sumi Wiring India, Route India, Star Cement, Vinati Organics, Hindustan Copper, TAJGVK Hotels &amp; Resorts among companies to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/indigo-reports-a-net-profit-of-919-crore-in-q4-revenue-soars-76-yoy/articleshow/100331520.cms">IndiGo reports a net profit of ₹919 crore in Q4, revenue soars 76% YoY</a> <a href="https://www.businessinsider.in/business/news/cheese-burst-quick-service-restaurants-see-muted-growth-ahead/articleshow/100332394.cms">Cheese burst: Quick service restaurants see muted growth ahead</a>

Sensex, Nifty50 edge lower in morning trade as energy and FMCG stocks drag

Shares of <keyword id="265574" type="COMPANY" weightage="100" keywordseo="Motherson-Sumi-Systems">Motherson Sumi Systems</keyword> Ltd., India's top <keyword id="124995" type="UNKNOWN" weightage="100" keywordseo="auto-ancillary">auto ancillary</keyword> maker, fell on profit booking after the company's strong earnings fell below street's stratospheric forecasts. 
 
Motherson said its first quarter Net Profit jumped 62 percent to 266 crore rupees compared with 163.7 crore rupees in the same quarter a year ago. Sales during April-June rose 11.8 percent to 9,384 crore rupees from 8,391.5 crore rupees in the year ago period. The street was expecting a PAT of 306 crore rupees on sales of 9,534 crores. Motherson missed both estimates. 
 
Motherson fell 20.25 rupees, or 5.2 percent, to 370.90 rupees, snapping a 4-day rally to a record high on the National Stock Exchange, where 60 lakh shares were traded by 1:45 pm compared with the 5-day average of 26 lakh shares. 
 
Motherson's market capitalisation has jumped 53 percent in the past one year to 50,450 crore rupees as investors bought into a globally competitive auto ancillary giant headquartered in India. 
 
Image credit: Indiatimes

Shares of  Motherson Sumi Systems failed to register profits. Know why

New Delhi, Feb 6 () Rate-sensitive stocks on Thursday closed with gains after the RBI left the policy rates unchanged but maintained its accommodative stance to boost growth.Among bank stocks, IndusInd Bank gained 4.85 per cent, RBL Bank rose 4.53 per cent, SBI 3.55 per cent, Yes Bank 2.53 per cent, Axis Bank 1.77 per cent, Federal Bank 1.65 per cent, City Union Bank 1.39 per cent and ICICI Bank 0.51 per cent on the BSE.The BSE Bank index rose 0.95 per cent to close at 35,819.26.From the auto pack, Eicher Motors climbed 5.26 per cent, Bosch gained 2.44 per cent, TVS Motor Company 2.16 per cent, Hero MotoCorp 1.56 per cent, Motherson Sumi Systems 1 per cent and Ashok Leyland 0.75 per cent.The auto index closed 0.12 per cent higher at 18,271.25. "The market has managed to close in positive territory on the RBI's credit policy day. The RBI maintained status quo on its rate decision, which was on expected lines but announced positive measures for housing finance companies that triggered a positive sentiment in the market," Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities said. In the sixth bi-monthly monetary policy review of 2019-20, the Monetary Policy Committee (MPC) unanimously voted to keep the repo rate unchanged at 5.15 per cent while retaining its accommodative stance.Among realty companies, Godrej Properties rose 1.93 per cent, Sobha jumped 1.40 per cent, Indiabulls Real Estate 1.16 per cent, Prestige Estates Projects 1.06 per cent, Oberoi Realty 0.52 per cent and Sunteck Realty 0.04 per cent. However, some companies witnessed decline with DLF falling 2.88 per cent, Omaxe 0.79 per cent, The Phoenix Mills 0.66 per cent and Mahindra Lifespace Developers 0.40 per cent. The realty index went lower by 0.29 per cent to close at 2,481.15. "It was an expected move by the RBI, maintaining the repo rate unchanged at 5.15 per cent. With the inflation rate breaching the upper band, it will take time for the central bank to revive the rate cuts. By maintaining the accommodative stance, there is scope for rate cuts once the inflation rate falls back to a comfortable level," Deepthi Mary Mathew, Economist, Geojit Financial Services said. The 30-share BSE Sensex settled 163.37 points, or 0.40 per cent, higher at 41,306.03. It hit an intra-day high of 41,405.43. SUM ANUANU

Rate-sensitive stocks gain after RBI policy

Stocks are in fine shape on Monday as they build on to early morning gains on <a href="http://www.businessinsider.in/searchresult.cms?query=Dalal+Street">Dalal Street</a>. Industrials, Banks and Infrastructure stocks were in demand in the cash market on the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange</a> post noon. Here is the snap shot of the day's happenings on the exchanges. 
 
BENCHMARK INDICES 
Nifty surges 111 points to 8,062 
Sensex gained 400 points to 26,620 points 
 
BROADER INDICES 
CNX 100 jumps 1.4% to 8,194 points 
CNX Mid Cap rises 1.5% to 13,188 points 
CNX Small Cap surges 1.7% to 5,330 points 
 
SECTORAL INDICES 
Bank Nifty jumps 2.2% to 17,530 points 
CNX Finance surges 2.9% to 7,201 points 
CNX IT rises 0.5% to 11,925 points 
CNX PSU Bank gains 2.1% to 3,137 points 
 
TOP NIFTY GAINERS 
Tata Motors 
HDFC 
ICICI Bank 
 
TOP NIFTY LOSERS 
Maruti 
Coal India 
Dr. Reddy's 
 
TOP TRADED ON NIFTY 
TCS 
HCL Tech 
Maruti 
 
TOP VOLUME BUZZERS 
Thermax 
Emco 
India Glycols 
 
NEW HIGHS 
Apollo Hospitals 
8K miles 
Gufic Biosciences 
 
NEW LOWS 
Gujarat Gas 
Motherson Sumi 
Corporation Bank 
 
 
ADVANCE-DECLINE RATIOS 
NIFTY: 41/9 
SENSEX: 23/7 
FUTURES: 136/29 
BROADER MARKET: 1,796/710 
 
Image credit: Indiatimes

The simplest explanation to what's been happening at the Markets today

SKS MICROFINANCE LTD: Top microfinance lender rose 1.3 percent to 396.80 rupees after it slashed its borrowing rates for customers to 20.75 percent from 22 percent earlier. This is the third cut since October 2014. 
 MOTHERSON SUMI SYSTEM LTD.: Top auto ancillary maker jumped 3 percent to 248.65 rupees after the company management assuaged investors fears on the possible fallout of <keyword id="6361865" type="CITY" weightage="80" keywordseo="Volkswagen">Volkswagen</keyword>'s problems with US transport regulators on its emission-related issues. Volkswagen is among Motherson Sumi's major customers in Europe. 
 DISHMAN PHARMACEUTICALS LTD.: Gained 16.5 percent to 307.80 rupees after the drugs major got a license to manufacture a drug aimed at curing Tuberculosis from a unit of <keyword id="92247" type="COMPANY" weightage="80" keywordseo="Johnson-Johnson">Johnson &amp; Johnson</keyword>. 
 <keyword id="384128" type="COMPANY" weightage="80" keywordseo="Sterlite-Technologies-Ltd-">STERLITE TECHNOLOGIES LTD.</keyword>: Rose 3 percent to 83 rupees after the company said it acquired an overseas firm for 180 crore rupees, an amount that would be funded through internal accruals. 
 <keyword id="252427" type="COMPANY" weightage="80" keywordseo="Amtek-Auto-Ltd-">AMTEK AUTO LTD.</keyword>: The debt-laden company rose 1.2 percent to 46.55 rupees on news reports that banks were in the process of restructuring some of its enormous debt pile in a bid to kickstart interest payments from the auto ancillary major 
 
IDBI LTD.: Mid-sized Public sector lender jumped 11 percent to 74.35 rupees, its fourth day of gains, on persistent market expectations that the government will take steps to re-organize its majority control in the bank's equity capital in a manner that will make the lender more flexible in terms of conducting business. 
 
Image credit: Indiatimes

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<ul><li>Tata Motors finally has a ‘BUY’ rating from CLSA after three years. </li><li>For the quarter ending in September, Jaguar Land Rover sold 128,953 cars, slightly down (-0.7%) compared to the same period a year ago.</li><li>Investors believe that the downtrend in sales may finally be coming to an end.</li><li>The expected stability in <keyword id="1159034" type="PERSON" weightage="20" keywordseo="JLR-sales">JLR sales</keyword> has given hope to many ancillary companies like tyres, batteries and other auto parts makers.</li></ul>Months of despair have given way to some good news from Tata Motors. It’s British luxury car unit Jaguar Land Rover’s sales seem to be stabilsing. At least, that’s what the street believes. After three years of having a ‘SELL’ rating, Tata Motors has finally been upgraded to ‘BUY’ rating by global broking firm CLSA. Tata Motors’ share price spiked over 13% after the company’s second-quarter earnings. 
 
 
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 Between July and September 2019, Tata Motors reported a net loss of ₹216.5 crore but that was still a massive improvement from the same quarter in the previous year⁠— when the loss was nearly five times more. For the quarter ending in September, Jaguar Land Rover retail sales nearly the same (down 0.7%) as a year earlier⁠— but the losses were less because the company had cut costs. Jaguar Land Rover saw a 24.3% jump in its sales in China, which is a big market for the company. “JLR’s volume is showing signs of bottoming-out on a low base in China and the ramp-up of the recently upgraded Evoque model—the start of defender sales in 4QFY20 should provide a further boost,” the CLSA report said. Earlier this year, global rating agencies Fitch Ratings and Moody’s both had downgraded Tata Motors with a negative outlook. In June 2019, Jaguar Land Rover retail sales was down by 9.6% as compared to the same month the previous year. In May 2019 too, the company had seen a 12% decrease as compared to the same month in the previous year. “Against challenging market headwinds, for the third consecutive month we have achieved double-digit growth in China, benefitting from our local turnaround plan and performing ahead of the broader market. We have also outperformed shrinking markets in other regions,” said Felix Brautigam, Jaguar Land Rover Chief Commercial Officer in a statement. JLR cheer is spreading The market excitement is visible not just with Tata Motors’ share price but that of many ancillary companies in the business. For the <keyword id="34478" type="PERSON" weightage="20" keywordseo="auto-industry">auto industry</keyword> which has been hit by a slowdown for a year now, the comeback of Tata Motors and JLR is a positive sign for many others. Stocks like Bharat Forge, Motherson Sumi, and Exide, which make parts for automobiles, are also celebrating what they believe is a light at the end of the tunnel. Motherson Sumi, the largest manufacturer of automotive wiring harnesses and mirrors for passenger cars, too saw its stock trading at a 10% jump on Tuesday afternoon. 
 
 
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 With the festive sales, the October report of the auto industry is also expected to finally get a sigh of relief for the players. New entrants like MG Hector delivered 700 cars on Dhanteras while luxury car Mercedes Benz delivered 600 cars on the festive day. “Passenger vehicle sales, which were in the doldrums since late last year, have shown positive sales trajectory this year in comparison to the off-take witnessed during Dhanteras 2018”, reported IANS. "In terms of passenger vehicle sales, we have witnessed a similar off-take pattern to last year's Dhanteras day," Vinkesh Gulati, Vice President of the Federation of Automobile Dealers Associations (FADA) told IANS.

Not just Tata Motors, a lot of other companies are excited by Jaguar Land Rover numbers

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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