Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 33.50 points at the opening bell. Volatility may remain high on the bourses as the Reserve Bank of India (RBI) undertakes monetary policy review today, 2 December 2014. Asian stocks were mixed today, 2 December 2014.
Interest rate sensitive banking, realty and auto stocks will be in focus ahead of RBI's policy meet today, 2 December 2014.
Tata Motors after trading hours yesterday, 1 December 2014, said its total sales rose 2.09% at 41,720 units in November 2014 over November 2013. The company's domestic sales of Tata commercial and passenger vehicles for November 2014 at 37,427 units remained flat. Tata Motors' total exports jumped 17% to 4,293 units in November 2014 over November 2013. The company's sales of commercial vehicles in the domestic market declined 5% at 25,406 units in November 2014 over November 2013. Sales of medium and heavy commercial vehicles (M&HCV) jumped 39% at 9,452 units in November 2014 over November 2013. Sales of light commercial vehicles (LCVs) fell 20% at 15,954 units in November 2014 over November 2013. The trend of growth in passenger vehicles continued, with the strong Zest and Nano sales in November 2014, Tata Motors said.
Shares of car makers will be in focus after the Minister of State for Road Transport and Highways, Pon. Radhakrishnan informed the Rajya Sabha yesterday, 1 December 2014, that the government is planning to mandate the offset frontal crash test and side impact crash test norms for passenger cars. For this requisite test, facilities are being built under National Automotive Testing and Research and Development Infrastructure Project (NATRIP) initiative, he said. Once these facilities are ready, the regulations will be implemented. To meet these regulations, majority of car manufacturers will be required to use several safety devices, including air bags.
Hero MotoCorp's total motorcycle sales rose 3.18% to 5.47 lakh units in November 2014 over November 2013. In November 2014, Hero MotoCorp also launched its operations in Colombia. The company introduced six of its best-selling motorcycles through a network of 120 outlets. Hero plans to expand its distribution network to over 150 outlets in a year's time. In the same month, Hero MotoCorp also rolled out the new sportier version of its 150-cc motorcycle - 'Xtreme'. In October 2014, the state-of-the-art IGBC-certified platinum-class manufacturing plant - 'Garden Factory' - of Hero MotoCorp Ltd went on stream at Neemrana in Rajasthan.
Sun Pharmaceutical Industries clarified, in the matter of the Scheme of Arrangement between Ranbaxy Laboratories and Sun Pharmaceutical Industries that the company has neither received any final order from Competition Commission of India (CCI) on the Transaction, nor has there been any rejection of the Transaction by CCI. The CCI has been seeking additional information and detailed clarifications with respect to specific aspects of the products for the purpose of making its assessment. The company said it sees the process nearing its logical closure, the company said.
Shares of Infosys turn ex-bonus today, 2 December 2014, for 1:1 bonus issue.
With reference to the news item regarding "JSW Steel to acquire Bhushan Steel Odisha Steel unit", Bhushan Steel has clarified after market hours yesterday, 1 December 2014, that no negotiation with JSW or any other buyer has taken place. The company has denied any such development. The company is not aware of any development in this connection therefore not required to file information under clause 36 of the Listing Agreement.
The Reserve Bank of India (RBI) undertakes monetary policy review today, 2 December 2014. The central bank aims to limit consumer-price gains to 8% by January 2015 and 6% by January 2016. Over the longer term, the RBI aims to limit consumer-price gains to 4%, within a 2% band. The annual rate of inflation based on the combined consumer price index (CPI) for urban and rural India eased to 5.52% in October 2014 from 6.46% in September 2014, data released by the government on 12 November 2014 showed.
The output of eight core industries, having a combined weight of 37.9% in the Index of Industrial Production (IIP), galloped 6.3% in October 2014, government data released on Monday, 1 December 2014 showed. Coal production shot up 16.2%, while the electricity generation zoomed 13.2% in October 2014 over October 2013, mainly contributing to the healthy growth in the output of overall eight core industries. The core sectors output growth stood at 4.3% in April-October 2014 compared with 4.2% growth in the corresponding period last year.
HSBC India Services PMI for November 2014 is due tomorrow, 3 December 2014. Adjusted for seasonal factors, the headline HSBC India Services PMI Business Activity Index -- a single question tracking changes in activity at Indian services companies on a month-by-month basis -- fell to 50 in October, from 51.6 in September.
Data showing a slowdown in the nation's economic growth in Q2 September 2014 and weakness in global stocks pulled key benchmark indices lower on the first trading day of the week on Monday, 1 December 2014. The Sensex fell 134.37 points or 0.47% to settle at 28,559.62, its lowest closing level since 27 November 2014.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 12.36 crore on Monday, 1 December 2014, as per provisional data.
Asian stocks were mixed today, 2 December 2014. Key benchmark indices in China, Hong Kong, Indonesia and Singapore rose by 0.14% to 0.87%. Key benchmark indices in Taiwan, Japan and South Korea fell by 0.02% to 0.91%.
US stocks fell on Monday, 1 December 2014 with the S&P 500 suffering its biggest one-day drop in more than a month, as economic data indicated weakness across the globe.
In economic data, the Institute for Supply Management said its US manufacturing index edged down to 58.7% in November from 59% in October. Yet any number above 50% signals expansion, and the latest reading kept the ISM index near a three-year high. A separate report on Monday, 1 December 2014 by the research firm Markit said that purchasing managers index for November showed a reading of 54.8, down from 55.9 in October. That marks the lowest reading in ten months. US retailers reported sluggish Black Friday spending, with sales falling 11% from the same period last year, according to the National Retail Federation (NRF). US consumers spent on average $380.95 per person, down 6.4% from a year ago. Overall, total holiday weekend sales were estimated to be $50.9 billion.
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