Sensex Today Trades Lower | Eicher Motors Drops 2% | M&M, L&T Top Losers

Tue, 2 Jan 10:30 am

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Asian shares were mostly on backfoot on Tuesday, marking their first session of the new year, following the cuts in the US stocks on Friday as euphoria over rate cuts by the US Fed faded away.

US Stock markets observed a public holiday on Monday on the account of new year.

Here's a table showing how US stocks performed on Friday (30 Dec 2023):

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	140.93	-0.35	-0.25%	141.44	139.9	143.95	85.57
Apple	192.53	-1.05	-0.54%	194.4	191.73	199.62	124.17
Meta	353.96	-4.36	-1.22%	360	351.82	361.9	117.74
Tesla	248.48	-4.7	-1.86%	255.19	247.43	299.29	101.81
Netflix	486.88	-3.63	-0.74%	492.23	481.94	500.89	283.22
Amazon	151.94	-1.44	-0.94%	153.89	151.03	155.63	81.43
Microsoft	376.04	0.76	0.20%	377.16	373.48	384.3	219.35
Dow Jones	37689.54	-20.56	-0.05%	37759.43	37538.8	37778.85	31429.82
Nasdaq	16825.93	-72.54	-0.43%	16919.51	16757.88	16969.17	10696.42

Source: Equitymaster

At present, the BSE Sensex is trading 367.4 points lower and NSE Nifty is trading 94 points lower.

Coal India and Cipla are among the top gainers today.

M&M and L&T on the other hand are among the top losers today.

Broader markets are trading higher. The BSE Mid Cap and the BSE Small Cap index is trading marginally higher.

Sectoral indices are trading mixed, with socks in healthcare sector and realty sector witnessing most buying. Meanwhile, stocks in auto sector and IT sector witness selling pressure

The rupee is trading at Rs 83.32 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 63,442 per 10 grams today.

Meanwhile, silver prices are trading 0.3% higher at Rs 74,612 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, with the rise of electric vehicles and renewable energy, the world may be on the verge of a revolution in transportation and energy technology.

This could transform the oil market the way the coal market was transformed a century ago.

Like coal then, oil could see its share in energy demand plummet in the coming decades.

In the below video, Research Analyst Tanushree Banerjee talks about green energy stock to profit from the end of the oil age.

Nestle Receives Tax Order

The FMCG company has received an order from the Additional Commissioner, Office of the Principal Commissioner, Central Goods & Services Tax & Central Excise Commissionerate, Chandigarh.

The order demands the payment of tax amounting to Rs 464 m under the CGST/SGST Act, along with applicable interest and penalty amounting to Rs 46.5 m.

Apart from this, the company is reaching its record dates for stock split.

The company will issue stocks split in a ratio of 1:10. This means a sub-division of one equity share of the company, having a face value of Rs 10 each, into ten equity shares having a face value of Rs 1 each.

The record date for the same is 5 January 2023.

This is the first time the company has announced a stock split in at least two decades.

For more details, check out Stock Split Alert: FMCG Giant Announces First Ever Stock Split.

Bharti Airtel to Acquire Stake in Beetel Teletech

Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has agreed to the acquisition of 49.5 m shares or 97.1% stake in Beetel Teletech, another Bharti Group company.

Pegging the cost of acquisition at Rs 6.7 bn, the company said that this acquisition is a part of the company's strategy to enable indigenisation initiatives within its ecosystem of telecom products in line with the Government's policy of Make In India' and add distribution and service capabilities (including system integration) largely for the enterprise business.

Consequently, Beetel will become a subsidiary of the company.

The acquisition is a related party transaction in terms of the provisions of SEBI listing regulations.

Beetel Teletech was incorporated on 30 March 1999.

On the strength of its in-house technical capabilities, relationship with global OEMs and channel composing of a large number of channel partners, distributors and retailers, it is engaged in designing and delivering technical solutions and services and distributing a wide range of products from IT peripherals.

Beetel distributes a host of leading brands including Avaya, HP/Poly, Samsung, and Siemens.

It also holds a 49% stake in a Joint Venture which has two facilities for manufacturing landlines, telecom and networking products, including products that are manufactured in compliance with the Production Linked Incentive (PLI) Scheme to Promote Telecom and Networking Products Manufacturing in India' notified by the Ministry of Communications.

TVS Motor Posts 25% Jump in Sales

TVS Motor Company on Monday reported a 25% rise in total dispatches at 3,01,898 units in December 2023.

The company had sold a total of 2,42,012 units in December 2022.

Two-wheelers sales were at 2,90,064 units in December 2023, compared to 2,27,666 units in the same month last year, up 27%.

Domestic two-wheeler sales grew by 33% at 2,14,988 units in December 2023 as against 1,61,369 units in December 2022

Motorcycle sales rose by 19% to 1,48,049 units last month compared to 1,24,705 units in December 2022.

TVS Motor Co sold 11,232 units of iQube electric scooter in December 2023 as against sales of 11,071 units in the same month last year.

Three-wheeler sales were at 11,834 units last month compared to 14,346 units in December 2022.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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