Cipla (+2%), Bajaj Auto(+2%) & more
Market Summary
Nifty declined for the second-straight day due to continuous foreign funds outflow.
Companies
Cipla (+2%) rose after the company's arm launched a skincare brand. ITC (+2%) rose due to reasonable valuation and improvement in margin. Bajaj Finance (-7%) declined after the company posted a weaker AUM YoY growth.
Sectors
Nifty FMCG (+2%) rose due to easing of commodity prices. Nifty Oil & Gas (+1%) rose due to strong performance of Adani Total Gas, Gujarat Gas, GAIL, Mahanagar Gas and Petronet LNG. Nifty Auto (+1%) rose due to strong performance of MRF, Bharat Forge, Hero Motocorp, Bajaj Auto and Ashok Leyland.
News of The Day
1.JBM Auto (+5%) rose after the company emerged as one of the likely winners of Rs 30 Billion tender of CESL for electric buses. (Mint)
2. Apar Industries (+5%) rose due to a positive outlook. (Business Standard)
3.Tyre Stocks rose on expectations of margin improvement amid falling raw material prices. (Business Standard)
4.Lupin (+1%) rose after the company launched a fixed-dose triple drug combination to treat uncontrolled asthma.. (Financial Express)
5.Grasim Industries incorporated a subsidiary for business support systems. (CNBC TV 18)
Market Sentiment
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