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Shares of automobile manufacturers crashed at the bourses on Monday after reports said that the government intended to hike registration and renewal charges for internal combustion vehicles

(Photo: Kamlesh Pednekar)

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		Shares of automobile manufacturers crashed at the bourses on Monday after reports said that the government intended to hike registration and renewal charges for internal combustion vehicles. The sector was also marred by the Goods and Services Tax (GST) council&#39;s decision to cut tax rate on electric vehicles from 12 per cent to 5 per cent.<br />
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		Weak June quarter performance by corporates and Finance Minister Nirmala Sitharaman&#39;s comments that the government was not relooking at the FPI surcharge proposal dented investment sentiment.</div>
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		The Sensex ended 196 points, or 0.52 per cent, lower at 37,686 levels pulled down by automobile manufacturers stocks. Tata Motors, Vedanta, Bajaj Auto, and Maruti were the top laggards at the close while ICICI Bank, IndusInd Bank, and HCL Tech ended the day as top gainers. On the other hand, Nifty50 gave up the psychological level of 11,200 mark to settle at 11,189 mark, down 95 points, or 0.84 per cent.&nbsp;The Sensex touched an intra-day low of&nbsp;37,519 while the Nifty50 hit a low of&nbsp;11,152.</div>
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		In the broader market, S&P BSE MidCap ended 93 points, or 0.67 per cent, lower at 13,763 levels while the S&P BSE SmallCap closed 135 points, or 1.03 per cent, lower at 12,926 levels.<br />
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		Among individual stocks, shares of Indiabulls group companies were under pressure on Monday, falling by up to 10 per cent intra-day on the BSE, after Rajya Sabha member Subramanian Swamy sent a letter to Prime Minister Narendra Modi, accusing the group of laundering more than Rs 1 lakh crore. The group, however, rejected the charges <a href="https://orgbs.business-standard.com/article/markets/indiabulls-group-shares-tumble-up-to-10-on-money-laundering-allegation-119072900421_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		Sectorally, all the indices ended in the red barring Nifty IT index. Nifty Auto index was the worst performing index, closing over 3.6 per cent lower. This was followed by losses in Nifty Metal index (down 2.8 per cent) and Nifty Pharma index (down 1.8 per cent). Nifty Realty, PSU bank and FMCG indices were down close to a per cent. Nifty IT index ended 0.17 per cent higher.</div>
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		<strong>AUTOS SLIDE</strong></div>
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		On Monday, the Nifty Auto index was the worst hit at the bourses, sliding nearly 3.6 per cent. Maruti Suzuki, Bajaj Auto, TVS Motor, Hero MotoCorp, Ashok Leyland, Apollo Tyres, Exide Industries and Bharat Forge were some of the other stocks from the Nifty Auto index that lost 1 per cent to 4.5 per cent in intra-day trade. <a href="https://orgbs.business-standard.com/article/markets/gst-cut-on-electric-vehicles-hike-in-registration-dents-auto-stocks-119072900404_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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		<strong>GLOBAL CUES</strong></div>
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		Global shares ended lower on Monday. Japan&#39;s Nikkei closed 0.19 per cent lwoer while South Korea&#39;s Kospi slipped 1.78 per cent.&nbsp;&nbsp;</div>
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MARKET WRAP: Sensex slips 196 pts, Nifty gives up 11,200; auto stocks skid

Business Standard

Tata Group-owned Air India, which has embarked on an ambitious transformation plan, expects the first A350-900 aircraft to arrive in India by the end of this year


JKC also said it is expecting the airline to be up and running next year with the launch date likely to be announced in the next few days


India's star Weightlifter Mirabai Chanu will be in action at 12:30 PM IST. Bopanna's mixed doubles match will begin at 10:30 am IST

India shooters Palak and Esha Singh won Gold and Silver in 10m air pistol women's individual event. India's medal count swells to 33 with 8 Gold, 12 Silver and 13 Bronze


Due to the protest, several trains on the Ambala-Shri Ganganagar route were cancelled on Thursday


The South Asian country wants to obtain another 400 of these guns, which would make the equipment about a sixth of all artillery pieces in the Indian armory


IHC said that it continually strives to enhance shareholder value and additional information about the transaction will be included in its quarterly financial disclosure

The global sugar market has been jittery for weeks on concerns that poor rains will crimp output and prompt India to restrict shipments to contain local prices ahead of an election next year


Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

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After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
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Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

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	The S&amp;P BSE Sensex slipped 196 points or 0.52 per cent at 37,686 while NSE&#39;s Nifty50 index ended at 11,189 levels, down 95 points or 0.84 per cent.&nbsp;</div>

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Earnings Alert | Castrol India Q2CY19 result

-- Net profit at Rs 182.7 crore, up 11.4% YoY<br />
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-- Revenue at Rs 1,039.6 crore, up 2.2% YoY<br />
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-- EBITDA Margin at 27.4%<br />
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Stocks that hit 52-week high on S&P BSE Sensex

<table border="1" cellpadding="1" cellspacing="1" class="table-txt-right" style="box-sizing: border-box; text-align: right; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 14px;width: 620px" width="100%">
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			<th class="tdh tdL" scope="row" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-align: left !important;">
				COMPANY</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px;">
				PRICE(rs)</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px;">
				52 WK HIGH</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px;">
				CHG(rs)</th>
			<th class="tdh" scope="col" style="box-sizing: border-box; font-weight: 700; text-transform: uppercase; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px;">
				CHG(%)</th>
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			<th class="tdL" scope="row" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; text-align: left !important;">
				<a href="https://www.business-standard.com/company/34" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px;">ASIAN PAINTS</a></th>
			<td style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase;">
				1515.00</td>
			<td class="red-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: rgb(224, 46, 46) !important;">
				1538.35</td>
			<td class="red-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: rgb(224, 46, 46) !important;">
				-9.60</td>
			<td class="red-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: rgb(224, 46, 46) !important;">
				-0.63</td>
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			<th class="tdL" scope="row" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; text-align: left !important;">
				<a href="https://www.business-standard.com/company/149" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px;">PROC. GAM. HEAL.</a></th>
			<td style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase;">
				4900.00</td>
			<td class="gren-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: green !important;">
				5120.80</td>
			<td class="gren-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: green !important;">
				129.10</td>
			<td class="gren-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: green !important;">
				2.71</td>
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			<th class="tdL" scope="row" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; text-align: left !important;">
				<a href="https://www.business-standard.com/company/24608" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px;">VARUN BEVERAGES</a></th>
			<td style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase;">
				642.00</td>
			<td class="red-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: rgb(224, 46, 46) !important;">
				683.15</td>
			<td class="red-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: rgb(224, 46, 46) !important;">
				-13.35</td>
			<td class="red-txt" style="box-sizing: border-box; border-bottom-style: solid; border-bottom-color: rgb(226, 226, 226); padding: 8px 5px; text-transform: uppercase; color: rgb(224, 46, 46) !important;">
				-2.04</td>
		</tr>
	</tbody>
</table>
<a class="more-btn Tright mT5" href="https://www.business-standard.com/stocks/market-statistics/bse/52-week-high?indices=21552" style="box-sizing: border-box; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px; margin-top: 15px; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif; font-style: italic; display: block; font-size: 14px; text-align: right !important;">&raquo; More on 52 Week High</a>

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Global shares ease ahead of Fed test: Reuters

Global shares eased on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in U.S. interest rates this week, with much riding on whether the Federal Reserve signals yet more are to come. After initially opening lower, European shares moved into positive territory with deal-making and a rally in defensive sectors pushing up the pan-European STOXX 600 index.&nbsp;MSCI&rsquo;s All Country World Index of stocks, down by as much as 0.2 per cent on the day, erased some losses to trade 0.05 per cent lower.<br />
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In Asia, MSCI&rsquo;s broadest index of Asia-Pacific shares was half a per cent lower. Japan&rsquo;s Nikkei dipped 0.2 per cent and Shanghai blue chips 0.1 per cent.<br />
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India bond yields fall as finance minister backs rate cuts, reaffirms foreign bond issue plan: Reuters

Indian bond yields dropped sharply on Monday after the finance minister said the government won&rsquo;t change its plan to issue sovereign bonds and that she hopes the Reserve Bank of India makes more rate cuts. India&rsquo;s benchmark 10-year bond yield fell as much as 11 bps to 6.42% on Sitharaman&rsquo;s comments.<br />
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<em><strong>(via Reuters)</strong></em><br />
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NEWS ALERT | NBCC submits proposal before SC for completion of Unitech flats: CNBC TV18

Nearly a quarter of listed stocks on the BSE trade below face value

Besides Vodafone Idea, there are as many 656 stocks (21 per cent) out of total of 3,133 stocks traded on the BSE, including Reliance Power, Reliance Communications, IFCI and United Bank of India that are currently quoting below their respective paid-up values on the BSE, data show. <a href="https://orgbs.business-standard.com/article/markets/nearly-a-quarter-of-listed-stocks-on-the-bse-trade-below-face-value-119072900621_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Earnings Alert | JMC Projects reports net profit of Rs 20.6 crore, up 93.2% YoY, in Q1 result

-- Revenue at Rs 964.9 crore<br />
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-- EBITDA at Rs132.9 crore<br />
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Earnings Alert | Alembic Pharma reports net profit at Rs 123.7 crore in June quarter

-- Revenue at Rs 948.9 crore<br />
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-- EBITDA at Rs 224.5 crore

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Axis Bank Q1 preview: 15% growth in NII seen, exposure to stressed assets eyed

Improved loan growth and increased net interest income (NII) could aid private lender Axis Bank to report an over 150 per cent rise in the net profit for April-June quarter for the fiscal year 2019-20 (Q1FY20). The bank, which reported a PAT of Rs 701.1 crore in the same quarter last year, is scheduled to report this year&rsquo;s quarterly result on Tuesday, July 30. <a href="https://orgbs.business-standard.com/article/markets/axis-bank-q1-preview-15-growth-in-nii-seen-exposure-to-stressed-assets-eyed-119072900527_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2018-08/28/full/1535400826-9898.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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Earnings Alert | Bank of Maharashtra Q1 result

-- Net profit at Rs 89.1 crore vs loss of Rs 1108 crore YoY<br />
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-- NII at Rs 996 crore, up 16.1% YoY<br />
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Result impact | Sharp surge seen in Kansai Nerolac stock post Q1 result

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Earnings Alert | Kansai Nerolac Q1 result

-- EBITDA at&nbsp; Rs 253.6 crore<br />
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-- Consolidated net profit at Rs 146 crore<br />
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-- Cons revenue at Rs 1,542.4 crore<br />

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MARKET WRAP: Sensex slips 196 pts, Nifty gives up 11,200; auto stocks skid

Shares of automobile manufacturers crashed at the bourses on Monday after reports said that the government intended to hike registration and renewal charges for internal combustion vehicles

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