Tata Motors reports highest ever quarterly loss - Tata Motors, India’s largest automaker by revenue, posted its highest quarterly loss of.Rs 26,961 crore due to a one-time impairment charge of £3.1 billion (.Rs 27,838 crore) on account of its dominant UK-based Jaguar Land Rover (JLR) unit, which has been hit by a sales slump in China and faces headwinds such as Brexit.
Tata Motors plunges 23% The stock of this morning is Tata Motors, which has plunged around 23 per cent as investors are reacting to the negative results.
Opening Bell: Sensex, Nifty Open Lower Indian equity benchmarks opened lower after ending a little changed yesterday. The S&P BSE Sensex Index fell as much as 0.55 per cent to 36,767.26 and the NSE Nifty 50 Index fell as much as 0.57 per cent to 11,006.75. The broader market index, The NSE Nifty 500 Index, declined 0.4 per cent. The market breadth was tilted in favour of sellers. About 872 stocks declined and 555 shares declined on National Stock Exchange. All the 11 sectoral gauges compiled by NSE fell, led by the NSE Nifty Auto Index’s 1.9 per cent decline.
Raymond Rebounds After Falling 11% Yesterday - Shares of Raymond rose as much as 7.2 per cent to Rs 701, after falling 11.7 per cent yesterday. Trading volume was 14.7 times its 30-day average, Bloomberg data showed. The stock traded at 18.9 times its estimated earnings per share compared to 29.4 times for the two-year historical average.
Rupee opens - The Indian rupee has opened higher on the back of fall in crude oil prices. The currency has opened at 71.38 per US dollar against its previous close. The rupee on Thursday appreciated by 11 paise to close at 71.45 against the US dollar after the Reserve Bank of India cut the repo rate and changed its policy stance to 'neutral'.
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