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Markets Close the Week 2% Lower
Fri, 11 Dec Closing

Indian equity markets began the day's proceedings on a cautious note but selling activity intensified as the day progressed on sustained foreign fund outflows and weak international markets. While the BSE-Sensex today closed lower by 208 points, the NSE-Nifty closed lower by 73 points. Midcaps and Small caps too finished on a negative note. While the BSE Mid Cap index closed lower by 1.2%, the BSE Small Cap index closed the day lower by 0.8%. Realty and banking stocks witnessed maximum selling pressure.

Asian stock markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.97%, while the Hang Seng led the Shanghai Composite lower. They fell 1.11% and 0.61% respectively. European markets are trading lower today with shares in Germany off the most. The DAX is down 0.71%, while France's CAC 40 is off 0.67% and London's FTSE 100 is lower by 0.49%. The rupee was trading at 66.79 against the US$ in the afternoon session.

Engineering stocks finished on a mixed note with Bharat Bijlee and Manugraph India leading the losses. Siemens has reportedly won an order worth approximately Rs 1.02 billion to supply a 400 kV Gas Insulated Switchgear (GIS) Substation to West Bengal State Electricity Transmission Company (WBSETCL). The scope of the order includes engineering, supply, installation and commissioning of the GIS Substation. The 400 kV GIS solution is being manufactured at the company's manufacturing plant at Aurangabad.

As the State Transmission Utility provider, Transmission Licensee and State Load Dispatch Centre, WBSETCL is responsible for transmitting electricity from generating sources to load centers through a transmission network spread across West Bengal. Siemens is one of the leading producers of energy-efficient, resource-saving technologies; combined cycle turbines for power generation; and power transmission solutions.

Siemens recently announced its fourth quarter results of financial year 2015 (September ending fiscal). The segment wise performance of the company was mixed. While the healthcare, mobility and energy management segments delivered good results, the power and gas and building technologies segments were under pressure in 4QFY15. The metals technologies business was unable to generate revenues due to the division being sold of effective December 2014. Here is our detailed analysis of the results (Subscription Required).

According to a leading financial daily, Tata Motors' subsidiary Jaguar Land Rover has entered into an agreement with the Government of the Slovak Republic to build a new plant in the city of Nitra, western Slovakia. The company will be the first British carmaker to open a manufacturing facility in Slovakia.

As part of Jaguar Land Rover's commitment to deliver more lightweight vehicles, the plant will manufacture a range of all-new aluminum Jaguar Land Rover vehicles. Reportedly, the first cars will come off the production line in late 2018. The factory will have an initial capacity of 150,000 vehicles and construction will commence in 2016.

Jaguar Land Rover has made significant progress in building its international manufacturing presence over the last year. It opened a new joint venture in China and commenced construction of its local manufacturing plant in Brazil at the end of 2014. The creation of new international plants allows Jaguar Land Rover to offer its customers even more exciting new models, protect against currency fluctuations and create a globally competitive business.

Although FY15 has seen the automobile industry limping back, the recovery so far has been tepid and slow. In our recent edition of 'The 5 Minute WrapUp Premium', we have discussed the performance of auto segments and what is expected of the industry in the near future (Subscription Required).

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