11 Sept Monday News- Stocks of Auto companies rise post GST council meet

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Shares of auto firms were trading higher in early trade, Monday, due to Indian car companies sounded relieved after the GST Council has raised the vehicle cess on Saturday, by less than the maximum possible, though luxury auto companies were more cautious in their assessment of the new rates. 

In the early hours today, the Nifty Auto index was trading 0.62% up at 10,846 while Tata Motors DVR was up 1.24%, Mahindra & Mahindra (M&M) was up 0.86% and Maruti Suzuki BSE 1.03 % rose 0.72%. 

The GST Council meet held on Saturday left untouched the rates on small cars and hybrid vehicles. But mid-sized cars attract a cess i.e, 2% points higher.

Meantime, M&M, Motor India Ltd, Toyota Kirloskar Audi India, Jaguar Land Rover and Mercedes-Benz are planning to pass on the increased cess to buyers, 

At 10.20 am, the BSE Sensex is trading at 31,846 up 158 points, while Nifty is trading at 9,983 up 48 points. A total of 55 stocks clocked a fresh 52-week high in trade today, while 11 stocks registered a new 52-week low on the NSE.

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Sensex, Nifty posted modest losses in the week ended 8 Sept 2017, as rising geopolitical worries between the US & North Korea diminished sentiments. In the weekend, BSE Sensex closed higher by 25 points, or 0.07%, to 31,688, while the Nifty 50 edged up by 5 points, or 0.05%, to 9,935.

In the past week beginning from August 31, 2017 to September 07, 2017, market was volatile. Weak GDP data, geopolitical worries are some of the key factors that affected the movements of the Indian indices. Sensex ended 68 pts lower, while Nifty managed to close positively, up 12 pts from the last week.

Increasing foreign investors selling due to premium valuation, lackadaisical earnings season and geopolitical worries kept the dictations for the market. Concerns on the North Korea front persisted, however, the good part was inflows by DIIs (Domestic institutional investors) and vigor in the rupee, which offset the downside.

Lack of clarity on the impact of GST in corporate earnings of the companies added to cautiousness. However, for the coming week, the market would keenly watch for the development in global markets. The key data points to be on the lookout are IIP, CPI and WPI.

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Stock Market opens higher on Monday. The Nifty also rises in opening hours after a long weekend. Infosys Ltd was holding its opening gains and was trading at Rs 941.65 share apiece, up by 3.23%. Infosys stock is contributing the most to Nifty and Sensex gains. Infosys, Eicher Motors, Aurobindo Pharma, Adani Ports and NTPC were the top gainers in Nifty pack.

Infosys shares advanced 2.95% to Rs 939.40 on BSE after the company appointed Nandan Nilekani as the board chairman with immediate effect. Hindustan Oil Exploration(HOEC) gained 7.6% intraday on the back of its launch of commercial production at Dirok field.

Other than Infosys, DLF, Vedanta, Bank of Baroda ICICI Bank and HDFC were the most active stocks based of volume on NSE in the morning hours. Pharma stocks, IT, Realty, and auto stocks were keeping buyer’s attention.

At 10.50 mornings, Sensex was trading at 31,764 levels up by 168 points, while Nifty was at 9,912 levels up 56 points.

Top Ten Stocks Advice in Focus on Thursday, 17 August 2017

Sensex & Nifty started on a green note on Thursday, tracking strong global cues. A few stocks that are expected to be in public attention today: 

Infosys Ltd: The Company considers a proposal to buy back shares on Saturday, 19 August 2017. It will pay shareholders up to 2 billion dollar via buybacks and dividends share in FY18. 

Larsen & Toubro: The Company has entered into definitive agreement for the divestment of company’s full stake in its Cutting Tools arm for Rs. 174.00 Cr, with IMC International Metal Companies BV.

GMR Infra: GMR infrastructural co, which owns a 220 MW gas based power plant in Kakinada (A.P.), will sell its barge mounted power plant to for USD 63 million, to a buyer. The company said that GMR Energy will enter into a definitive agreement with the buyer shortly. 

United Bank of India: The deposit rate of the bank upto Rs 1.00 crore was revised to 6.10% from 6.25 %. For above Rs. 1.00 Crore was revised to 4.35% from 4.5%.