Archive

Reuters blog archive

from India Insight:

Markets this week: Sensex gains 3 percent, Tata Motors surges 10 percent

The BSE Sensex rose 3 percent during the week, ending in the green for four of the five trading sessions. Improved guidance from Infosys, hopes of a U.S. deal to avoid a default on its debt and the RBI's decision to cut a key overnight interest rate helped sentiment.

Data released on Thursday showed India's trade deficit narrowed to a two-and-a-half-year low in September, raising hopes for a significant reduction in the country's current account deficit.

The rupee ended at 61.07/08 per dollar, helped by good dollar sales by corporates and as emerging currencies rose with risk sentiment improving.

Here are the top gainers and losers of the week:

GAINERS

TATA MOTORS: Shares in India’s largest automaker by revenue rose 10.12 percent this week, ensuring its place as the top Sensex gainer. Tata Motors surged to a life high of 389.50 after its unit Jaguar Land Rover said in a statement that its September retail sales were up 17 percent.

from India Insight:

Tracking Sensex: Top gainers, losers this week

By Aditya Kalra and Ankush Arora

Indian shares started the month of July on a flattish note, with the BSE Sensex rising 0.5 percent in the week ending July 5 after climbing more than 3 percent the previous week.

However, a weak rupee continued to dampen sentiment as the unit ended the week below 60 to the dollar, adding to concerns about India’s current account deficit.

from Global Investing:

Route 312 – China’s Route 66

The world's largest car market, China, with a population of 1.3 billion people and an emerging middle class, holds great potential for investors and consumers alike with annual growth rates in the auto sector expected to hold at around 23 percent to 2017, according to Alliance Bernstein Asset Managers.

Joint ventures (JV), the most popular structure for foreign firms investing in the automobile sector in the world's largest car market, are set to capitalise on a growing consumer base in a country with 3.3 million kilometres of asphalt. Traversing the so-called 'mother' road 312 (China's route 66) is becoming more of an attainable dream for the Chinese consumer.

from Money on the markets:

Tata Motors rises to all-time high

AUTOS INDIA TATAMOTORS

Tata Motors rose to an all-time high on Tuesday, climbing nearly 4 percent on the back of strong investor confidence in a broader market that touched a 32-month high for the third consecutive session.

The scrip opened on a strong note and hit a life-time high of 1,067.50 rupees on the BSE before closing 2.7 percent up at 1054 rupees with volumes of 1.2 million shares.

from Money on the markets:

Auto stocks post decent gains

The BSE Auto Index gained 1.27 percent on Friday, as a top industry body official said he expected Indian vehicles sales to reach a record high for the second year in a row in 2010/11.

Shares in Tata Motors rose 4.5 percent to 808 rupees and ended as the top gainer among the Sensex and auto index components.

from Money on the markets:

Tata Motors rises

INDIA/

Shares in Tata Motors snapped a two-day fall and ended nearly 1 percent higher at 778 rupees.

Tata Sons, the holding entity for Tata Group firms, and Citigroup acquired 8.65 million shares in Tata Motors, according to BSE data released Tuesday.

from Money on the markets:

Auto Index rises

Shares of major auto players rose on Wednesday, pulling the BSE Auto Index up 2.2 percent.
INDIA-HYUNDAI/

Shares in Mahindra & Mahindra ended 6.1 percent higher at 971 in a market that ended 1.2 percent up. Trade in the counter stood at 0.4 million shares.

from Money on the markets:

Tata Motors’ shares drop 6.6 pct

Land Rover Freelanders are seen outside the Halewood Jaguar and Land Rover factory in Liverpool, northern England, in this October 27, 2008 file photoTata Motors, India's largest commercial vehicle maker, ended the week on a disappointing note with its shares registering a drop of 6.6 percent.

The stocks declined 7.4 percent on the NSE.

Tata Motors was the top Sensex loser and also pulled the BSE Auto Index down 1.72 percent, making it the worst sectoral performer of the day.

from Money on the markets:

Auto sector on the move

The BSE Auto Index closed 1.3 points lower on Wednesday as investors across Asia remained cautious after the overnight slide on Wall Street.

The Auto Index was the top performer yesterday, gaining as much as 2.45 percent in a broader market that shed 115 points.

from Money on the markets:

Auto index drops over 4 pct

The BSE auto index on Thursday continued its downward trend from the previous session, closing 4.43 percent down.

Losses in automakers such as Mahindra & Mahindra, Tata Motors and Maruti Suzuki pushed the Sensex down in the last hour of trade.

  •