Sensex tumbles 581 pts from record peak, ends 214 pts down; Nifty holds 17K

The Nifty Realty index jumped 5 per cent today while the Nifty Metal index slipped 1.8 per cent

3:03 PM

August Auto Sales :: TVS Motor registers sales of 290,694 units

Total: TVS Motor Company registered sales of 290,694 units in August 2021 as against sales of 287,398 units in the month of August 2020. 

 

Two-wheelers: Total two-wheelers registered sales of 274,313 units in August 2021 as against sales of 277,226 units in August 2020

Three-wheelers: Three-wheeler of the Company registered a growth of 61% with sales of 16,381 units in August 2021 as against sales of 10,172 units in August 2020. 

Exports: The Company's total exports registered a growth of 61% with sales of 109,927 units in the month of August 2021 as against 68,347 units in August 2020.

2:49 PM

Large-cap stocks steal the show in August; Sensex up over 9%

The blue-chip focused Sensex and Nifty rose 9.4 per cent and 8.7 per cent, respectively, while the Nifty Midcap 100 rose 2.2 per cent, and Nifty Smallcap 100 fell 2.5 per cent. The strong showing in August was supported by domestic investor inflows, say experts. READ MORE

2:31 PM

IPO ALERT :: Vijay Diagnostic Centre subscribed just 19% so far on day 1

2:14 PM

Vijaya Diagnostic IPO: Why brokerages suggest subscribing to the issue

At the upper end of the price band, the company aims to raise Rs 1,895.03 crore. The offer, which closes on Friday, September 03, is entirely an OFS, where the promoter S Surendranath Reddy (50.90 lakh equity shares), investor Karakoram (2.95 crore shares) and Kedaara Capital (11 lakh shares) will offload their stake partially. READ MORE

2:06 PM

MARKET CHECK :: Sensex off lows, trades marginally in the green

1:55 PM

Morgan Stanley maintains India GDP growth estimate of 10.5% for FY22

Morgan Stanley on Wednesday maintained its estimate of India GDP growth at 10.5 per cent for FY2022 versus the general consensus of 9.2 per cent. "We expect economic activity to start normalising from quarter ending September, supported by pent-up demand, ramp-up of the vaccination drive (which is picking up pace and tracking at an average of 7 million per day), favourable policy mix and robust global growth," it said in a research report. READ MORE

1:41 PM

IPO ALERT :: Ami Organics sails through on Day 1

Source: BSE

1:24 PM

NEWS ALERT :: Gross GST collection in August comes in at Rs 1.12 trillion

1:15 PM

AU Small Finance Bank jumps 7% as firm clarifies on recent managerial exits

"Mr. Sumit Dhir has expressed his desire to move back to his hometown Delhi due to changes in his personal circumstances following Covid second wave. He continues to be on our rolls as Head of Internal Audit and we remain in discussions with him for possible retention," the bank said. It further added that retention discussions are as per our usual HR practices and strategy which we follow for the entire senior management team to manage business continuity, confidentiality, and competitiveness READ MORE

12:57 PM

August Auto Sales :: EV sales crossed a crucial threshold of 1000 units this month, says Tata Motors

>> The order book is strong and we aim to meet the robust demand to the best of our abilities despite the supply challenges

12:55 PM

NEWS ALERT :: Tata Motors is forced to moderate production and offtake volumes in the coming months

Semiconductor shortage continues to impact the auto industry globally.

The recent lockdowns in East Asia have worsened the supply situation and hence Tata Motors is forced to moderate production and offtake volumes in the coming months.

The situation is fluid and we will continue to work to mitigate the impact of this and aim to meet our customer orders through an agile, multi-pronged approach including close engagement with our extended supply chain partners, procuring chipsets from the open market, using alternate chips and managing our model and trim mix.

Source: BSE filing

12:54 PM

Tech view: Use dips to add auto stocks despite chip shortage concerns

The shortage of semiconductors and chips is hitting the Indian automobile sector hard. After Tata Motors, India's biggest car manufacturer Maruti Suzuki India has slashed output target for September due to a chip shortage. On Tuesday, Maruti Suzuki said that its vehicle production in September will tumble by 60 per cent. The company, which had earlier cut down production at its Gujarat plant, said the chip shortage will hit production in Gurugram and Manesar plants, effectively forcing the automaker to cut production by 60 per cent. READ MORE

12:46 PM

August Auto Sales :: Maruti Suzuki India posts total sales of 130,699 units

12:37 PM

August Auto Sales :: M&M

Mahindra & Mahindra announced that its overall auto sales (passenger vehicles+commercial vehicles+exports) for the month of August 2021 stood at 30,585 vehicles.
 

In the Utility Vehicles segment, Mahindra sold 15786 vehicles in August 2021. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 15973 vehicles in August 2021. Exports for the month of August 2021 were at 3180 vehicles.

Click here for detailed break up of figures
 

12:25 PM

Chip shortage, rising input costs: Auto stocks may remain underperformers

Auto stocks are likely to continue with their underperformance going ahead, as most companies from the sector grapple with multiple headwinds that include semiconductor shortage, rising input costs and competition from the electric vehicle (EV) segment. “The auto sector is facing multiple headwinds such as high raw material prices, chip shortages etc. The traditional four-and two-wheeler segment also faces competition from the electric vehicle (EV) segment. READ MORE