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Indices: Stock market update: Nifty Auto index falls 2.17%

Indices: Stock market update: Nifty Auto index falls 2.17%

Time of India20-05-2025

India 10-year bond yield jumped 0.38 per cent to 6.03 after trading in 6.01 - 6.04 range.
The Nifty Auto index closed 2.17 per cent down at 23531.2.
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NEW DELHI: The Nifty Auto index closed on a negative note on Tuesday.Shares of Ashok Leyland Ltd.(up 0.35 per cent) and MRF Ltd.(up 0.07 per cent) ended the day as top gainers in the pack.On the other hand, Tube Investments of India Ltd.(down 4.06 per cent), Hero MotoCorp Ltd.(down 3.33 per cent), Bajaj Auto Ltd.(down 3.24 per cent), Maruti Suzuki India Ltd.(down 2.71 per cent) and TVS Motor Company Ltd.(down 2.62 per cent) finished as the top losers of the day.The Nifty Auto index closed 2.17 per cent down at 23531.2.Benchmark NSE Nifty50 index ended down 261.55 points at 24683.9, while the BSE Sensex stood down 872.98 points at 81186.44.Among the 50 stocks in the Nifty index, 7 ended in the green, while 43 closed in the red.Shares of Vodafone Idea, YES Bank, BEL, Suzlon Energy and Reliance Power were among the most traded shares on the NSE.Shares of SRM Contractors, Stampede Cap(DVR), Sanathan Textiles, Kilitch Drug and Kavita Fabrics hit their fresh 52-week highs in today's trade, while Protean eGov Techno, DRC Systems India, Chembond Chem, Vodafone Idea and Jai Balaji Inds hit their fresh 52-week lows.

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‘Vodafone Idea's capex plan unlikely to help regain subs; telco faces ₹20,000 crore annual cash shortfall'
‘Vodafone Idea's capex plan unlikely to help regain subs; telco faces ₹20,000 crore annual cash shortfall'

Time of India

time4 hours ago

  • Time of India

‘Vodafone Idea's capex plan unlikely to help regain subs; telco faces ₹20,000 crore annual cash shortfall'

NEW DELHI: Vodafone Idea (Vi) planned capital expenditure (CapEx) of ₹50,000-55,000 crore over the next two to three years is unlikely to significantly help the ailing telecom carrier regain subscribers that have migrated to rival Reliance Jio and Bharti Airtel 's networks, according to Motilal Oswal . 'Vi continues to lose market share to peers due to lower ARPU translation, given its inferior subscriber mix and elevated subscriber churn,' the brokerage firm said in a report, seen by ETTelecom. 'Despite the likely capex, we believe regaining subscribers would be a tall ask for Vi, given its peers' superior free cash flow generation and deeper pockets,' it added. Motilal Oswal estimated that Vi's capex increased to ₹4,200 crore in Q4FY25, the highest since the merger of Vodafone and Idea Cellular, with the overall FY25 capex rising to ₹9,600 crore. 'Despite equity infusion and acceleration in capex, Vi continued to lose market share to peers. On our estimates, it lost ~130bp in subscriber market share (SMS) and ~155bp in revenue market share (RMS) in FY25, among the three private telcos,' the brokerage said. In the fourth quarter (Q4) of fiscal year 2025, Vi's net loss widened sequentially to ₹7,166 crore, from ₹6,609 crore in Q3FY25. Last week, its board of directors approved raising around ₹20,000 crore more, which is seen as crucial to investing in the expansion of its 4G and 5G networks and arresting subscriber churn. The telecom joint venture between India's Aditya Birla Group and the UK's Vodafone Group Plc has been unable to control subscriber declines despite launching commercial fifth-generation (5G) services in key markets in the January-March 2025 quarter, including Delhi and Mumbai. In the December 2024 quarter, subscriber base had fallen below the 200 million mark for the first time since its merger in 2019. In the March 2025 quarter, it further declined to 198.2 million. 'We believe the company's network investments remain contingent on debt raise, which, in turn, is dependent on continued support/AGR relief from GoI (₹200 bn+ (₹20,000 crore) annual cash shortfall over FY26-31E),' the brokerage firm said. According to the report, the stabilisation of Vi's subscriber base, along with further relief from the government of India, remains imperative for the telco's long-term survival. 'Further, with no relief so far on AGR dues (repayments commence March 2026) and no breakthrough on the debt raise, we believe Vi is likely to face an annual cash shortfall of ~₹200 bn (₹20,000 crore) and may be unable to meet its capex guidance of ₹500-550 bn (₹50,000-55,000 crore) over FY25-27E,' the brokerage said.

Adani Group stocks decline; Adani Ports fall over 2 pc
Adani Group stocks decline; Adani Ports fall over 2 pc

The Print

time6 hours ago

  • The Print

Adani Group stocks decline; Adani Ports fall over 2 pc

In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are 'baseless and mischievous'. Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. New Delhi, Jun 3 (PTI) Adani Group stocks ended lower on Tuesday, with Adani Ports, NDTV and Adani Energy falling over 2 per cent each. The filing was in response to a Wall Street Journal (WSJ) report that said US prosecutors were investigating if Adani group companies imported Iranian LPG into India through their Mundra port in Gujarat. Shares of Adani Ports dropped 2.42 per cent, NDTV fell by 2.25 per cent, Adani Energy Solutions declined 2.18 per cent, Adani Power skidded 2.02 per cent and Adani Enterprises went lower by 1.89 per cent on the BSE. The stocks of Adani Total Gas edged lower by 1.62 per cent, Adani Green slipped 1.58 per cent, Sanghi Industries Ltd (1.16 per cent), Ambuja Cements (0.88 per cent), ACC (0.22 per cent) and AWL Agri Business (0.06 per cent). In intra-day trade, NDTV tanked 4.92 per cent, Sanghi Industries dropped 3.44 per cent, Adani Ports fell by 2.77 per cent, Adani Power lost 2.69 per cent, Adani Enterprises went lower by 2.63 per cent, Adani Energy (2.35 per cent), Adani Total (2.10 per cent), Adani Green (2 per cent), Ambuja Cements (1.21 per cent), AWL Agri (1.14 per cent) and ACC (0.62 per cent). In the equity market, the 30-share BSE Sensex tanked 636.24 points or 0.78 per cent to settle at 80,737.51. The NSE Nifty plunged 174.10 points or 0.70 per cent to 24,542.50. 'By policy, the Adani Group does not handle any cargo from Iran at any of our ports. This includes any shipments originating from Iran or any vessels operating under the Iranian flag,' the conglomerate said in the filing. It went on to state that the group 'does not manage or facilitate any ships whose owners are Iranian. This policy is strictly adhered to across all our ports'. The WSJ report claimed that its investigation had found tankers travelling between Mundra and the Persian Gulf exhibited traits experts say are common for ships evading sanctions. Purchase of Iranian oil or products is sanctioned over Tehran's suspected nuclear programme. Calling the report 'baseless and mischievous', the Adani group said it 'categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG'. It went on to add that it was 'not aware of any investigation by US authorities on this subject'. The report, it said, 'appears to be based entirely on incorrect assumptions and speculation'. PTI SUM DR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

Markets extend losses for 3rd session amid broad-based selloff; Sensex slips below 81k
Markets extend losses for 3rd session amid broad-based selloff; Sensex slips below 81k

The Print

time6 hours ago

  • The Print

Markets extend losses for 3rd session amid broad-based selloff; Sensex slips below 81k

In a volatile trading session, the 30-share BSE index tanked 636.24 points or 0.78 per cent to settle at 80,737.51. During the day, it dropped 798.66 points or 0.98 per cent to 80,575.09. Domestic markets stayed on the back foot for the third straight session as investors offloaded energy, finance and IT stocks, traders said. Mumbai, Jun 3 (PTI) Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Tuesday, weighed down by a widespread selloff amid foreign fund outflows and growing geopolitical uncertainties. The NSE Nifty plunged 174.10 points or 0.70 per cent to 24,542.50. As many as 2,266 stocks declined, while 1,731 advanced and 147 remained unchanged on the BSE. 'The domestic market remained in negative terrain amid mixed global cues, geopolitical issues and a volatile currency market led by a weak USD. Profit-booking is evident across sectors, except for real estate stocks, supported by expectations of an interest rate cut by the RBI. 'Mid and small-cap stocks are experiencing relatively less consolidation than large caps due to better earnings growth & moderation in premium valuation. While short-term consolidation is likely to persist, strong domestic-oriented players are estimated to provide outperformance against external volatility,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex firms, Adani Ports declined 2.42 per cent. Bajaj Finserv, Bajaj Finance, Power Grid, Eternal, IndusInd Bank, Maruti, Tata Consultancy Services and UltraTech Cement were among the biggest laggards. Mahindra & Mahindra emerged as the only gainer in the pack. Adani Group's 11 listed companies ended lower. Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are 'baseless and mischievous'. The BSE midcap gauge declined 0.52 per cent, while the smallcap index dipped 0.07 per cent. Among sectoral indices, power dropped 1.50 per cent, utilities (1.42 per cent), bankex (0.89 per cent), energy (0.88 per cent), capital goods (0.87 per cent), financial services (0.80 per cent) and teck (0.68 per cent). On the other hand, commodities and realty were the gainers. 'The Nifty has extended its consolidation phase for yet another day, showing no urgency in establishing a clear directional trend. It appears that investors are awaiting a decisive commentary following the RBI's interest rate decision,' Rupak De, Senior Technical Analyst at LKP Securities, said. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,589.47 crore on Monday, according to exchange data. 'The ongoing foreign fund outflows, coupled with weak global cues such as geopolitical tensions and uncertainty over trade deals, are adding pressure to the markets,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory, while Japan's Nikkei 225 index ended lower. South Korean markets were closed. European markets were trading lower. US markets ended higher on Monday. Global oil benchmark Brent crude climbed 0.28 per cent to USD 64.81 a barrel. After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade on Monday, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75. The Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

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