The S&P BSE Sensex closed at 28,442.21, down 0.43% while the broader Nifty50 index settled at 9,826.65, down 0.37%. The market breadth was negative as 1,976 stocks declined against 1,149 advancing shares on the BSE. Most of the top gainers were in healthcare, consumer durables and IT stocks while most of the top losers were in the oil & gas and PSU banks space. (Source: Economic Times) Adani Ports sheds 8 points while Asian Paints and Axis Bank surge
Shares of Adani Ports were trading 0.13% down at Rs 732 per share. The scrip opened at Rs 740.05, touched a high of Rs 741.35 and a low of Rs 731.80 so far during trade on Tuesday. The total traded volume was 1,22,907 in intra-day trade.
TURNING THE CORNER? The Indian paint major’s Q1 results beat expectations, led by robust performance of its decorative business. We expect asian paints to report a volume growth of 5% in FY19E. The company also revised up its revenue guidance for FY18E to 6-8% on strong volume growth across all segments.
An Investor Presentation by Shikha Sharma, managing director and CEO of Axis Bank Limited at ICICI Securities India Conference 2017 held on April 19-20. In her presentation, Ms. Sharma gives a detailed analysis of how Axis Bank transformed from being a pure play domestic bank to now being an international bank with an asset base largely spread across Asia.
After trading flat in early trade due to market-wide selling pressure in Automobile sector. M&M; AUTO was down by 5.33% at Rs 254.15 with 50 lakh shares changing hands on top of average daily volumes of 4 crore shares. The stock was well down from its 52-week high of Rs 305.22.
These are both key stocks for India’s strong economic growth due to their major role in construction and infrastructure. They are also key movers on news; any change in economic policy by Modi can move these stocks significantly. HDFC bank just started trading after its IPO last week so has a large market cap now. However many of our investors follow all three as a long term portfolio strategy for diversification purposes.
Shares of Sun Pharmaceuticals gained over 3% intraday after Apollo Hospitals confirmed acquisition of a stake in Dabur Pharma for Rs 1,872 crore. The company plans to complete delisting of Dabur Pharma from stock exchanges by December 31. Following acquisition, Mumbai-based Sun Pharma will hold 85% in Dabur Pharma excluding its 30% stake which is being bought from minority shareholders. (BSE)
The stock of HDFC LTD. was trading on negative terrain as its price dropped by Rs.14.25(-1.12%). HDFC LTD is a part of Banking sector.
MARUTI SUZUKI INDUSTRIES LIMITED
Maruti Suzuki India Limited (MSIL) is an Indian automaker headquartered in Gurgaon, Haryana. The company was founded by Indian businessman Suzuki in March 1958 as Maruti Udyog Limited (ML). Its current name was adopted in 1982 after Maruti Udyog was restructured into Maruti Limited.