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33,542.70 -338.15
( -1.00%)
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0.53 0.00


TVS Motor Company Ltd
Industry :  Automobiles - Motorcycles / Mopeds
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Indices nudge lower; Nifty near 22,450 mark
Apr 02,2024
The headline equity indices traded with minor losses in early trade. The Nifty traded near the 22,450 mark. Consumer durables, oil & gas and media stocks advanced while IT, pharma and financial services shares declined.

At 09:27 IST, the barometer index, the S&P BSE Sensex, was down 94.52 points or 0.13% to 73,917.76. The Nifty 50 index shed 13.70 points or 0.06% to 22,448.30.

In the broader market, the S&P BSE Mid-Cap index shed 0.46% and the S&P BSE Small-Cap index declined 0.69%.

The market breadth was strong. On the BSE, 2,094 shares rose and 742 shares fell. A total of 114 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 522.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,208.42 crore in the Indian equity market on 1 April, provisional data showed.

Stocks in Spotlight:

Infosys shed 0.54%. The company received order under Section 201 & 201(A) of the Income Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of Rs 341 crore (including interest). The company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending 31 March 2024, and also evaluating filing appeal against this order.

Hero MotoCorp shed 0.89%. The company sold 490,415 units of motorcycles and scooters in March 2024, as against 519,342 units sold in March 2023.

TVS Motor Company declined 0.94%. The company registered a growth of 12% with sales increasing from 317,152 units in March 2023 to 354,592 units in March 2024.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.44% to 7.083 as compared with previous close 7.052.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3575, compared with its close of 83.3925 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement rose 0.25% to Rs 68,459.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 105.05.

The United States 10-year bond yield shed 0.49% to 4.307.

In the commodities market, Brent crude for June 2024 settlement added 47 cents or 0.41% to $87.83 a barrel.

Global Markets:

Asian stocks traded mixed on Tuesday as investors assessed economic data from South Korea and Australia. Investors are also awaiting for jobs data for further insight into the U.S. labour market.

U.S. stocks closed mostly lower on Monday to kick off the second quarter, pausing a rally that has recently brought all three indexes to fresh record highs.

US manufacturing grew for the first time in 1-1/2 years in March. The Institute for Supply Management (ISM) said on Monday that its manufacturing PMI increased to 50.3 last month, from 47.8 in February.