Trading for the day started on a positive note as key benchmark indices edged higher in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 26.29 points or 0.1% at 26,195.70. The Nifty 50 index was up 10.05 points or 0.13% at 7,964.95. Metal and pharma stocks led gains on the bourses.
The market breadth indicating the overall health of the market was strong. On BSE, 961 shares rose and 365 shares fell. A total of 61 shares were unchanged. The BSE Mid-Cap index was up 0.28%. The BSE Small-Cap index was up 0.37%. Both these indices outperformed the Sensex.
In overseas markets, Asian stocks were mixed. US stocks rose yesterday, 1 December 2015, helped by rebound in health and consumer shares.
TCS gained 0.04%. The company yesterday, 1 December 2015 announced it has joined the Scaled Agile Partner program as a Gold Partner with Scaled Agile, Inc., whose founder, Dean Leffingwell, created the Scaled Agile Framework (SAFe) - a proven, publicly-accessible knowledge base for implementing agile practices at enterprise scale. The announcement was made after market hours yesterday, 1 December 2015
TCS' Agile Practice offers end-to-end enablement and transformation with offerings like readiness assessment, role-based training at the team, program and portfolio level, and coaching to make the transformation sustainable.
TVS Motor Company lost 3.77%. The company recorded 2.43% growth in total sales to 2.25 lakh units in November 2015 over November 2014. Incessant rains for the past three weeks in Chennai have had an adverse effect on the company's production in November 2015, TVS Motor Company said. The company suffered a loss of approximately 15,000 units due to the inclement weather, it said.
Hero MotoCorp gained 0.54%. The company's total sales rose 0.6% to 5.5 lakh units in November 2014 over November 2014. The company announced after market hours yesterday, 1 December 2015. During November, the company achieved the landmark 10 lakh sales during the 35-day festive period starting with the Navratras, a 11% growth over the corresponding period last year.
Tata Motors declined 0.96% after the company announced weak sales for November. The company's total sales of passenger and commercial vehicles (including exports) fell 7% at 38,918 vehicles in November 2015 over November 2014. The announcement was made after market hours yesterday, 1 December 2015. The domestic sales of Tata commercial and passenger vehicles fell 6% at 35,345 units in November 2015 over November 2014. The passenger vehicles sales declined 13% at 10,517 units in November 2015 over November 2014. In commercial vehicles, sales of medium & heavy commercial vehicles (M&HCV) rose 21% at 11,524 units in November 2015 over November 2014. The light & small commercial vehicle sales however continued to reflect industry decline and fell 16% at 13,304 units in November 2015 over November 2014. These impacted the overall commercial vehicles sales for Tata Motors in the domestic market falling 2% at 24,828 units in November 2015 over November 2014. The company's sales from exports shed 17% to 3,573 units in November 2015 over November 2014.
Coal India gained 0.97%. The company announced after market hours yesterday, 1 December 2015, that the company and its subsidiaries provisionally achieved 96% of targeted production at 47.47 million tonnes in November 2015. The company achieved 98% of targeted offtake at 45.33 million tonnes in November 2014 as per provisional figures.
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