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Stock Market News - Bajaj Finance, HDFC top losers, Titan Fall

Hero Raises Motorcycle prices - The country's largest two-wheeler maker Hero MotoCorp July 8 said it has increased prices of its motorcycles and scooters by up to 1 percent. The price hike will be with immediate effect, the company said in a statement.


Titan Worst Performer On Nifty Post Q1 Update Shares of Titan extended fall for the fourth consecutive trading session. The stock fell as much as 10.9 percent, the most since Nov. 09, 2016, to Rs 1,116. India’s largest branded jewelry and watchmaker joins consumption-oriented peers predicting a muted first quarter as Asia’s third-largest economy faces a slowdown. A “tough macro-economic environment” has impacted consumption and rising gold prices in June further deterred customers from buying jewelry, Titan said in a statement.

Rupee Trade - The Indian rupee was unchanged on Tuesday morning against Monday's close of 68.65 a dollar.

HDFC Extends Fall For Third Day -  Shares of HDFC extended declines for the third consecutive trading session, their longest losing streak in nearly a month. The stock fell as much as 2.2 percent to Rs 2,209.30. The housing finance company has planned to sell bonds worth Rs 5,000 crore on July 10. The stock traded at 31 times its estimated earnings per share for the coming year.

OMCs Rally On Falling Crude Prices -  Shares of the oil marketing companies rallied in today’s trade. This after the Brent crude extended fall for the second consecutive trading session. The Asian crude benchmark fell as much as 0.6 percent to $63.76 a barrel. 

Oberoi Realty Falls -  After BofAML Downgrade Shares of the property developer declined for the third session and fell as much 3.8 percent to Rs 532.25. Brokerage and research firm BofAML downgraded its recommendation on the stock to 'Neutral' from 'Buy'. The price target was fixed at Rs 627, indicating a potential upside of 13 percent from the previous close.

Bajaj Finance, HDFC top losers - HDFC, Bajaj Finance shares were among the biggest losers, tanking more than 2% each. Yes Bank, ONGC, Sun Pharma shares were trading higher by up to 2%. IT behemoth TCS is all set to report Q1 earnings today, kicking off the results season this quarter

Gainers and Losers - Titan Company plunged 9 percent, followed by UPL, HDFC, Bajaj Finance and Bajaj Finserv which were down 1.5-2.5 percent. IOC bucked the trend, rising 3.7 percent. BPCL, Coal India, Yes Bank, and ONGC were other gainers.The BSE Sensex slipped 189.05 points to 38,531.52 and the Nifty50 declined 61.50 points to 11,497.10. About two shares declined for every share rising on the BSE.

CATCH ALL MARKET UPDATE -

 1  YES Bank rises over 2%

2   NHPC gains after Unit 1&3 of Baira Suil Power Station start electricity generation.

3   Meghmani Organics rise after subsidiary completes installation of Chlormethane (CMS) project in Gujarat complex


Market Update | Hero | Rupee | ONGC | Banaj Finance
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