Sat, 14 Dec, 2019

Tata Motors

Automaker Tata Motors jumped 4.79 per cent at Rs 181.65 per cent. Private lenders Yes Bank and Axis Bank added gains of 3.3 per cent and 1.5 per cent respectively.

Tata Motors had said the parent group through Tata Sons will infuse 914 million dollars (about Rs 6,530 crore) equity into the company, of which 548 million dollars (about Rs 3,915 crore) will be paid immediately and the balance over a period of 18 months.

MSCI's broadest index of Asia Pacific shares outside Japan rose 1.1% in light trade, South Korea' Kopsi gained by 1.3 per cent and Shanghai blue chips added 1.6 per cent. Tokyo was on holiday.

Meanwhile, Asian indices traded marginally higher as market participants watched for developments on the US-China trade front ahead of high-level negotiations.

The Battery Management System (BMS) in the Ziptron powertrain is designed for extended battery life of up to eight years and will offer consistent performance.

Further, trade concerns emerged with Trump saying that he will not accept a bad deal in trade talks with China as the world's two largest economies meet in early October to end the long-drawn trade war.

The other prominent winners were IndusInd Bank, Bajaj Finance, State Bank of India, UltraTech Cement and Titan. All of them saw gains ranging between 8.7 to 10.7 per cent each.

The MSCI's broadest index of Asia Pacific shares outside Japan added 0.1 per cent. The Shanghai Composite Index was up by 0.4 per cent, South Korea's KOSPI rose by 0.7 per cent and Japan's Nikkei was up by 0.4 per cent.

The Shanghai Composite Index added 0.45 per cent while MSCI's index of Asia-Pacific shares outside Japan gained 0.5 per cent. But sentiment in the wider region remained subdued amid worries about a global recession.

Among the other prominent losers were Tata Steel, ICICI Bank, UltraTech Cement, Titan, Indian Oil Corporation and Tata Motos which lost between 4 and 4.5 per cent each. Heavyweight Reliance Industries plunged by 3.8 per cent while Jindal Steel lost by 3.6 per cent.