Category Archives: Automotives

Automotives, Banking, Financial Stocks, Indian Stock Market, Pharma Stocks

India Market Report – 03Apr2020

Indian equity/stock market ended with steep losses on Friday as Coronavirus cases showed no signs of abating while negative global cues further impacted sentiments.

S&P BSE Sensex slipped 674.36 points at 27,590.95.
Nifty 50 index shed 170 points at 8,083.80.

On the BSE, 1140 shares rose and 1099 shares fell.
In Nifty 50 index, 19 stocks advanced while 31 stocks declined.

IHS Markit announced Purchasing Managers’ Index (PMI) numbers for India yesterday. The headline seasonally adjusted IHS Markit India Manufacturing PMI fell from 54.5 in February 2020 to 51.8 in March 2020. Weighing on the headline figure was slowdown in production growth during March.

Banking stocks faced serious selling pressure. Among the private sector banks, RBL Bank (down 15.65%), Axis Bank (down 9.35%), IndusInd Bank (down 8.69%), Bandhan Bank (down 7.26%), City Union Bank (down 4.13%), Kotak Mahindra Bank (down 3.56%), Federal Bank (down 3.03%) and HDFC Bank (down 1.87%) declined. Continue reading India Market Report – 03Apr2020 →

Automotives, Indian Stock Market

Tata Motors Stock Analysis- 25Feb2020

Tata Motors stock is very bearish, and its following a head and shoulders pattern on the downside, with likely target of 125, while the current price is 150. The stock has been correcting from 200, with a bit of consolidation at 170 level, before fresh downmove.

The 50 day moving avg is also curving downwards, so it will need several days or weeks to get back any positive direction again. Tata Motors stock has failed many times to use the good set ups the stock had, which means, fundamental weakness is significant.

The latest coronavirus impact on Chinese economy will further impact Tata Motors. sales were already weak, and they may get weaker.

Investors should avoid Tata Motors stock and no new investment should be made in the stock at current levels. There’s nothing here! Plus the stock movements are very deceptive. A clean upside is possible only above 182. Traders can trade long or short in Tata Motors, and for the last 2 years, the short trade has been dominant.

Just see the above hourly chart. The stock has fallen from 184 to 150 within Feb 2020! There’s no investment case at all when a stock loses so much ground so fast.

Tata Motors management needs to take urgent action to save this company and rebuild it.

 

 

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Indian Equity Market Update – 04Feb2020

Mumbai, 04 Feb 2020. Key equity benchmarks on NSE and BSE ended with robust gains today, supported by steep slide in crude oil prices and positive global shares – after the sharp sell off on Budget Day on Saturday, 01 Feb 2020.

Nifty50 index gained 271 points to 11,979.
BSE Sensex gained 917 points to 40,789.

Market breadth was tilted towards buyers. On the BSE, 1564 shares rose and 856 shares fell. In Nifty 50 index, 45 stocks advanced while 5 stocks declined. Fitch Ratings on Monday said India is expected to clock a GDP growth of 5.6% in the next financial year, as Budget 2020 has not “materially altered” its view on the country’s growth outlook.

The Economic Survey of India released by the government last week projected India’s growth rate at 6-6.5% for FY21. NMDC (up 6.16%), Jindal Steel & Power (up 5.35%), Hindustan Copper (up 4.61%), Hindalco Industries (up 4.24%), SAIL (up 4.02%), Tata Steel (up 3.65%), Vedanta (up 3.24%), JSW Steel (up 2.74%), National Aluminium Company (up 2.04%) and Hindustan Zinc (up 1.93%) advanced. Titan Company jumped 7.59% to Rs 1276.

Reliance Industries gained 2.86% to Rs 1425. L&T advanced 0.56% to Rs 1293.95. Bajaj Auto slipped 4.09% to Rs 3155. TCS was up 0.18% to Rs 2107. Honeywell Automation jumped 14.40% to Rs 31785. PNB fell 1.05% to Rs 56.75. Shriram Transport Finance Company surged 6.58% to Rs 1051.65. Sun Pharmaceuticals advanced 2.06% to Rs 426.10. GlaxoSmithKline Pharmaceuticals crashed 11.71% to Rs 1454.60.

In the US data on the manufacturing sector from the Institute for Supply Management, the purchasing manager’s index rose to a six-month high of 50.9% in January. Media reports showed that OPEC members are planning an emergency meeting for discussing large production cut. The outbreak of the Coronavirus and China’s efforts to stop the spread mean the economy will grow slower this quarter than first thought, according to economists.