CLOSING BELL: Life Insurance Corporation of India (LIC) will come out with its IPO on May 4
Analysts expect revenue to decline by 11-12 per cent year-on-year (YoY) in Q4, marked by decline in volumes and surge in average selling price due to steep price hikes taken over the last few quarters
Hero MotoCorp is the top pick of brokerages
The company is set to launch its range of electric auto rickshaws in June and hopes to replicate its success in ICE three-wheelers
AU Small Finance Bank and Bajaj Auto seem well placed on the technical charts and should be able to witness decent gains in the weeks ahead.
India has recently announced $1-bn line of credit to Sri Lanka to help the country tide over the current economic crisis
Total two-wheelers sales dropped 22 per cent
The Nifty Auto index and the key stocks are trading near significant resistance levels while exhibiting sideways movement, upside breakout could see significant long additions.
Higher exports may offset some of the volume, cost pressure
Closing Bell: The benchmarks were bogged down by Maruti Suzuki, Dr Reddy's Labs, Bajaj Auto, Hero MotoCorp, ICICI Bank, HDFC twins, Eicher Motors, and Sun Pharma
Bajaj Auto on Wednesday reported a 16 per cent drop in its total sales to 3,16,020 units in February. The company had sold 3,75,017 units in February 2021. Domestic sales last month stood at 1,12,747 units as against 1,64,811 units, down 32 per cent, Bajaj Auto said in a regulatory filing. Total two-wheeler sales declined 16 per cent to 2,79,337 units compared to 3,32,563 units in February last year. Total commercial vehicle sales slipped 14 per cent to 36,683 units against 42,454 units in the same month last year, the company said. Exports last month also witnessed a decline of 3 per cent to 2,03,273 units from 2,10,206 units in the corresponding month last year, it added.
Rahul Bajaj resigned as the chairman of Bajaj Auto in April last year and was the Chairman Emeritus of the firm
At 10:42 am; Nifty Auto index, the top gainer among sectoral indices, was up 1.6 per cent, as compared to 0.39 per cent decline in the Nifty50 index.
Exports of two-wheelers stood at 1,87,934 units as compared with 2,27,532 units in the year-ago month, down 17 per cent
Analysts, however, expect markets to recover from here on as they have reached their key support zones.
Asian Paints, Bajaj Finserv, Bajaj Holdings, Biocon, Century Textiles, Havells India, Hindustan Unilever, Bank of Maharashtra, MphasiS, Persistent Systems and Shoppers Stop to announce results today.
The company took a price increase of 1-1.2 per cent in the third quarter. It expects to take a similar amount in the current quarter
Revenue from operations in Q3FY22 marginally rose to Rs 9,022 cr
Stock market LIVE: Sector-wise, only Auto, metals and energy stocks were trading higher. Meanwhile, Nifty IT index, down nearly 2 per cent , was still the biggest loser. .
Aptech, Bajaj Auto, Ceat, JSW Energy, L&T Infotech, Mastek, Oracle Financial Services, Rallis India, Saregama and Tata Communications to announce December quarter results on Wednesday