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| As on Dec 10, 2019 12:00 AM |
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| Shares of Trident tumbled 9.86% in five trading sessions to its current market price of Rs 64.90 from its recent closing high of Rs 72 on Tuesday, 3 December 2019. Meanwhile, the S&P BSE Sensex was down 236 points or 0.58% to 40,251.13. Trident announced monthly production data for November 2019 during market hours today, 10 December 2019. In the home & textiles division, the production of bath linen declined 6.07% to 2,737 metric tonnes in November 2019 over 2,914 metric tonnes in November 2018. The production of bed linen jumped 14.07% to 2.27 million metres in November 2019 as against 1.99 million metres in November 2018. Yarn production fell 4.77% to 8,533 metric tonnes in November 2019 compared with 8,961 metric tonnes in November 2018. In the paper & chemicals division, the production of paper rose 0.05% to 12,457 metric tonnes in November 2019 as against 12,450 metric tonnes in November 2018. Chemical production observed a 1.43% rise to 8,281 metric tonnes in November 2019 over 8,164 metric tonnes in November 2018. Shares of Trident advanced 5.01% to its current market price of Rs 64.90 in the past one month. On the technical front, the stock's RSI (relative strength index) stood at 49.156. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. The stock was currently trading below its 50-day moving average (DMA) placed at Rs 61.84, as well as below its 200 DMA placed at Rs 62.33. Trident's consolidated net profit rose 26.8% to Rs 139.81 crore on 4.3% decline in net sales to Rs 1,340.72 crore in Q2 September 2019 over Q2 September 2018. Trident is a terry towel, yarn and wheat straw-based paper manufacturer. The company's segments include textiles, paper and chemical/chemicals and others.
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| The Tata Motors Group global wholesales in November 2019, including Jaguar Land Rover (JLR), were at 89,671 units, down 15% over November 2018. The announcement was made during trading hours today, 10 December 2019. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in November 2019 were at 31,030 units, lower by 19% over November 2018. Global wholesales of all passenger vehicles in November 2019 were at 58,641 units, lower by 12% as compared to November 2018. Global wholesales for JLR were 48,105 vehicles (*JLR number for November 2019 includes CJLR volumes of 6,224 units). Jaguar wholesales for the month were 10,801 vehicles, while Land Rover wholesales for the month were 37,304 vehicles. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR. Shares of Tata Motors have fallen 5.7% in the past four trading sessions from its previous closing high of Rs 169.40 on 4 December 2019.
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PC Jeweller Ltd, IIFL Finance Ltd, Va Tech Wabag Ltd and Centrum Capital Ltd are among the other losers in the BSE's 'A' group today, 10 December 2019. Yes Bank Ltd crashed 10.14% to Rs 50.5 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 196.17 lakh shares were traded on the counter so far as against the average daily volumes of 198.14 lakh shares in the past one month. PC Jeweller Ltd lost 7.27% to Rs 22.95. The stock was the second biggest loser in 'A' group.On the BSE, 16.45 lakh shares were traded on the counter so far as against the average daily volumes of 8.89 lakh shares in the past one month. IIFL Finance Ltd tumbled 6.57% to Rs 138.7. The stock was the third biggest loser in 'A' group.On the BSE, 34077 shares were traded on the counter so far as against the average daily volumes of 1.07 lakh shares in the past one month. Va Tech Wabag Ltd slipped 6.32% to Rs 179.4. The stock was the fourth biggest loser in 'A' group.On the BSE, 77594 shares were traded on the counter so far as against the average daily volumes of 24382 shares in the past one month. Centrum Capital Ltd corrected 5.80% to Rs 20.3. The stock was the fifth biggest loser in 'A' group.On the BSE, 14759 shares were traded on the counter so far as against the average daily volumes of 58183 shares in the past one month.
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Hindustan Petroleum Corporation (down 2.96%), Bharat Petroleum Corporation (down 2.59%) and Indian Oil Corporation (down 1.28%) tumbled. In the commodities market, Brent crude for February 2020 settlement was down 29 cents at $63.96 a barrel. The contract fell 14 cents, or 0.21%, to settle at $64.25 a barrel during the previous trading session. Brent crude prices have risen over 5% in six sessions from its closing low of $60.82 on 3 December 2019. The Organization of the Petroleum Exporting Countries (OPEC), Russia and nine other allies agreed in Vienna last week to new production cuts of 500,000 barrels per day (bpd) in the first three months of 2020. This is in addition to their already existing cuts of 1.2 million bpd. Higher crude oil prices could increase under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
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Arrow Textiles Ltd, AXISCADES Engineering Technologies Ltd, S E Power Ltd and Vaswani Industries Ltd are among the other losers in the BSE's 'B' group today, 10 December 2019. Karda Construction Ltd tumbled 17.83% to Rs 100 at 14:33 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 19102 shares were traded on the counter so far as against the average daily volumes of 7014 shares in the past one month. Arrow Textiles Ltd crashed 11.73% to Rs 8.65. The stock was the second biggest loser in 'B' group.On the BSE, 607 shares were traded on the counter so far as against the average daily volumes of 2217 shares in the past one month. AXISCADES Engineering Technologies Ltd lost 11.53% to Rs 51.05. The stock was the third biggest loser in 'B' group.On the BSE, 16548 shares were traded on the counter so far as against the average daily volumes of 6589 shares in the past one month. S E Power Ltd shed 11.11% to Rs 2.8. The stock was the fourth biggest loser in 'B' group.On the BSE, 350 shares were traded on the counter so far as against the average daily volumes of 544 shares in the past one month. Vaswani Industries Ltd corrected 9.87% to Rs 6.48. The stock was the fifth biggest loser in 'B' group.On the BSE, 2927 shares were traded on the counter so far as against the average daily volumes of 20588 shares in the past one month.
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| On 29 November 2019, the bank said that various investors have expressed willingness to subscribe to equity shares of the bank. Among the institutional investors, a top-tier US Fund House, Discovery Capital and Ward Ferry expressed interest in acquiring fresh stake in the bank. Aditya Birla Family Office, Citax Holdings Ltd & Citax Investment Group, GMR Group and Associates, Erwin Singh Braich I SPGP Holdings and Rekha Jhunjhunwala are the five family offices that have expressed interest in subscribing to the equity of the bank. None of the investors will be allotted equity shares such that their holding exceeds 25% of the share capital of the bank. The bank's board will meet on Tuesday, 10 December 2019, to finalize and approve the details of the preferential allotment, subject to regulatory and statutory approvals. According to media reports, Billionaire investor Rakesh Jhunjhunwala might shelve a plan to invest $25 million in Yes Bank due to uncertainty over the lender's capital raising plans. Jhunjhunwala is expected to release a formal letter regarding the investment on Tuesday, 10 December, reports stated. Meanwhile, the S&P BSE Sensex was down 182 points or 0.45% to 40,305.13. In the past one month, shares of Yes Bank slumped 27.73% to its current market price of Rs 52.75, underperforming the Nifty Private Bank index's 0.43% rise in the same period. On the technical front, the stock's RSI (relative strength index) stood at 37.231. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. The stock was currently trading below its 50-day moving average (DMA) placed at Rs 56.95, as well as below its 200 DMA placed at Rs 126.47. Yes Bank reported a net loss of Rs 600.08 crore in Q2 September 2019 as compared to net profit of Rs 964.70 crore in Q2 September 2018. The total income of the bank fell 4.3% to Rs 8,332.21 crore in Q2 September 2019 over Q2 September 2018.
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Jyothy Labs Ltd, J B Chemicals & Pharmaceuticals Ltd, Thermax Ltd, Atul Ltd are among the other stocks to see a surge in volumes on NSE today, 10 December 2019. Shriram City Union Finance Ltd saw volume of 70860 shares by 14:17 IST on NSE, a 14.01 fold spurt over two-week average daily volume of 5056 shares. The stock increased 0.74% to Rs.1,423.30. Volumes stood at 2016 shares in the last session. Jyothy Labs Ltd registered volume of 25.43 lakh shares by 14:14 IST on NSE, a 8.31 fold spurt over two-week average daily volume of 3.06 lakh shares. The stock slipped 3.70% to Rs.152.35. Volumes stood at 5.01 lakh shares in the last session. J B Chemicals & Pharmaceuticals Ltd recorded volume of 5.04 lakh shares by 14:14 IST on NSE, a 8.31 times surge over two-week average daily volume of 60731 shares. The stock gained 5.51% to Rs.423.85. Volumes stood at 46215 shares in the last session. Thermax Ltd recorded volume of 5.92 lakh shares by 14:14 IST on NSE, a 8.03 times surge over two-week average daily volume of 73766 shares. The stock gained 1.26% to Rs.993.55. Volumes stood at 2.38 lakh shares in the last session. Atul Ltd recorded volume of 41201 shares by 14:14 IST on NSE, a 7.11 times surge over two-week average daily volume of 5795 shares. The stock gained 0.50% to Rs.4,140.05. Volumes stood at 18583 shares in the last session.
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Among the components of the S&P BSE Oil&Gas index, GAIL (India) Ltd (down 3.1%), Hindustan Petroleum Corporation Ltd (down 2.47%),Bharat Petroleum Corporation Ltd (down 1.74%),Castrol India Ltd (down 1.31%),Reliance Industries Ltd (down 0.86%), were the top losers. Among the other losers were Gujarat State Petronet Ltd (down 0.75%), Indian Oil Corporation Ltd (down 0.72%), and Petronet LNG Ltd (down 0.17%). On the other hand, Oil & Natural Gas Corpn Ltd (up 0.2%), and Indraprastha Gas Ltd (up 0.02%) moved up. At 13:48 IST, the S&P BSE Sensex was down 152.36 or 0.38% at 40335.07. The Nifty 50 index was down 59.45 points or 0.5% at 11878.05. The S&P BSE Small-Cap index was down 80.22 points or 0.6% at 13200.28. The S&P BSE 150 Midcap Index index was down 23.91 points or 0.51% at 4631.28. On BSE,807 shares were trading in green, 1514 were trading in red and 152 were unchanged.
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Among the components of the S&P BSE Power index, JSW Energy Ltd (down 3%), Bharat Heavy Electricals Ltd (down 2.28%),Power Grid Corporation of India Ltd (down 2.02%),NTPC Ltd (down 1.68%),Kalpataru Power Transmission Ltd (down 1.6%), were the top losers. Among the other losers were Tata Power Company Ltd (down 1.43%), NHPC Ltd (down 0.63%), Torrent Power Ltd (down 0.45%), Adani Power Ltd (down 0.42%), and Siemens Ltd (down 0.17%). On the other hand, Thermax Ltd (up 1.52%), Adani Transmission Ltd (up 0.92%), and K E C International Ltd (up 0.71%) turned up. At 13:48 IST, the S&P BSE Sensex was down 152.36 or 0.38% at 40335.07. The Nifty 50 index was down 59.45 points or 0.5% at 11878.05. The S&P BSE Small-Cap index was down 80.22 points or 0.6% at 13200.28. The S&P BSE 150 Midcap Index index was down 23.91 points or 0.51% at 4631.28. On BSE,807 shares were trading in green, 1514 were trading in red and 152 were unchanged.
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Among the components of the S&P BSE Utilities index, BF Utilities Ltd (down 4.9%), Jaiprakash Power Ventures Ltd (down 4.61%),GVK Power & Infrastructure Ltd (down 3.64%),GAIL (India) Ltd (down 3.1%),JSW Energy Ltd (down 3%), were the top losers. Among the other losers were Va Tech Wabag Ltd (down 2.98%), Power Grid Corporation of India Ltd (down 2.02%), NTPC Ltd (down 1.68%), Tata Power Company Ltd (down 1.43%), and GE T&D India Ltd (down 1.12%). On the other hand, Reliance Power Ltd (up 4.95%), Rattanindia Power Ltd (up 1.06%), and Adani Transmission Ltd (up 0.92%) turned up. At 13:48 IST, the S&P BSE Sensex was down 152.36 or 0.38% at 40335.07. The Nifty 50 index was down 59.45 points or 0.5% at 11878.05. The S&P BSE Small-Cap index was down 80.22 points or 0.6% at 13200.28. The S&P BSE 150 Midcap Index index was down 23.91 points or 0.51% at 4631.28. On BSE,807 shares were trading in green, 1514 were trading in red and 152 were unchanged.
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Shares of VST Tillers Tractors have declined 7.05% in six trading sessions to its current market price of Rs 1051.1 from its recent closing high of Rs 1,130.80 on 2 December 2019. The company announced its November 2019 sales figures after market hours on Thursday, 5 December 2019. The company's total sales slipped 7.90% to 1806 units in November 2019 from 1961 units in October 2019. Power tillers sales rose 12.14% to 1238 units in November 2019 from 1104 units in October 2019. However, total tractor sales slumped 33.72% to 568 units in November 2019 from 857 units in October 2019. In the past one month, shares of VST Tillers Tractors tumbled 17.87% to its current market price of Rs 1051.1, underperforming the Nifty Auto index's 4.28% fall in the same period. The stock continues to trade below its 50-day moving average (DMA) placed at Rs 1,205.37 and below its 200 DMA placed at Rs 1,215.86. On the technical front, the stock's RSI (relative strength index) stood at 27.04. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Net profit of VST Tillers fell 30.6% to Rs 6.38 crore on a 11.3% rise in net sales to Rs 160.88 crore in Q2 September 2019 over Q2 September 2018. VST Tillers Tractors is engaged in the manufacturing of power tiller and tractor.
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Shares of Shaily Engineering Plastics lost 9.88% in the past two trading sessions to settle at Rs 578.05 yesterday, 9 December 2019, from its close of Rs 641.45 on 5 December 2019. The stock slumped 9.03% to Rs 578.05 on Monday, 9 December 2019, after the company informed on Saturday, 7 December 2019, that there was a search at its Rania plant in Gujarat by Goods and Services Tax (GST) authorities and the same has ended. As part of the investigation, the authorities have seized some moulds belonging to the company as well its customers as part of the process which is being contested by the company. The company said it is extending all co-operation and the investigation and submissions by the company is continuing. There has not been any case of evasion of any duty which has been established as of now and the company has not received any show cause notice from the authorities till date. The company and its officials are cooperating in all possible manner to aid and complete the investigations. The company is working along with its legal counsels on the subject matter. Further, the company denied any allegations of tax evasion. Meanwhile, the S&P BSE Sensex was down 125 points or 0.31% to 40,362.35. On the technical front, the stock's RSI (relative strength index) stood at 37.518. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. The stock was currently trading below its 50-day moving average (DMA) placed at Rs 661.79, and below its 200 DMA placed at Rs 649.62. The company's net profit fell 1.7% to Rs 5.64 crore on 1.4% rise in net sales to Rs 87.58 in Q2 September 2019 over Q2 September 2018. Shaily Engineering Plastics is engaged in the manufacture of plastics products.
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The divergence is the difference in bad loans reported by the bank and the assessment done by RBI. SBI had reported a net profit of Rs 862 crore in the year ended March 2019. The adjusted (notional) net loss for the year ended 31 March 2019, after taking into account the divergence in provisioning, was at Rs 6968 crore. According to recent guidelines by the Securities and Exchange Board of India (Sebi), banks are now required to disclose divergence in the asset classification and provisioning immediately upon receipt of RBI's final Risk Assessment Report (RAR). For the year ended March 2019, the gross non-performing assets (NPAs) assessed by RBI was at Rs 1,84,682 crore compared with Rs 1,72,750 crore in gross NPA reported by the bank. The bank had reported Rs 65,895 crore net NPAs during the year while the RBI assessed it at Rs 77,827 crore, leaving a gap of Rs 11,932 crore. The divergence in provisioning also increased by Rs 12,036 crore for the fiscal ended March 2019. Shares of SBI were up 1.4% at Rs 321.60 on BSE. The stock rose 15.73% in last three months as compared to a 13.71% rise in Nifty Bank index. On standalone basis, the bank's net profit rose 218.75% to Rs 3011.73 crore on a 9.37% increase in total income to Rs 72,850.78 crore in Q2 September 2019 over Q2 September 2018. The ratio of gross NPAs to gross advances stood at 7.19% as on 30 September 2019 as against 7.53% as on 30 June 2019 and 9.95% as on 30 September 2018. The ratio of net NPAs to net advances stood at 2.79% as on 30 September 2019 as against 3.07% as on 30 June 2019 and 4.84% as on 30 September 2018.
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| India Ratings and Research lowered its ratings on the bank's lower tier II bonds & tier II bonds (Basel III complaint) worth Rs 1490 crore to IND A+/Negative from IND A+/Stable. The rating reflects higher proportion of stressed assets to net worth, subdued profitability along with lower provision coverage compared to peer banks, thereby increasing the importance of raising tier I capital in the medium term. The announcement was made after trading hours yesterday, 9 December 2019. Meanwhile, the S&P BSE Sensex was down 150 points or 0.37% to 40,337.22. Shares of South Indian Bank declined 2.81% in four trading sessions to its current market price of Rs 10.69 from its recent closing high of Rs 11 on Wednesday, 4 December 2019. In the past one month, the stock slipped 2.55% to its current market price of Rs 10.69, underperforming the Nifty Private Bank index's 0.40% rise in the same period. On the technical front, the stock's RSI (relative strength index) stood at 42.392. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. The stock was currently trading below its 50-day moving average (DMA) placed at Rs 10.75, and below its 200 DMA placed at Rs 12.93. South Indian Bank's net profit rose 20.5% to Rs 84.48 crore on 18.8% rise in total income to Rs 2,203.18 crore in Q2 September 2019 over Q2 September 2018. South Indian Bank provides retail and corporate banking, para banking activities, such as debit card, third-party product distribution, in addition to treasury and foreign exchange business.
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The scrip was currently trading lower by 0.68% at Rs 152.30. The company has received confirmation from Dubai International Financial Centre Authority (DIFCA) on 8 December 2019. The acquisition has also received the approval from Dubai Health Authority (DHA). Aster DM added that it is a bolt-on acquisition which fits with its existing medcare brand of clinics. Bolt-on acquisition refers to the acquisition of smaller companies, usually in the same line of business that presents strategic value. The said acquisition is being done on cash basis, for a total consideration of 8.69 million Dirham. Shares of Aster DM Healthcare continued to slide for third consecutive session. The stocks has fallen 2.30% to its current market price of Rs 152.30 from a recent closing high of Rs 155.90 on 5 December 2019. On a consolidated basis, the company's net profit fell 71.7% to Rs 3.12 crore on a 13.6% increase in the net sales to Rs 2086.88 crore in Q1 June 2019 over Q1 June 2018. Aster DM Healthcare is one of the largest private healthcare service providers operating in multiple GCC states and is an emerging healthcare player in India.
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| The downgrade in the rating factors in the instances of devolvement of letter of credits (LC), overutilization in working capital limits for more than 30 days, large working capital requirement and the risk of unfavourable regulatory changes. These weaknesses are partially offset by PCJ group's strong market position in manufacturing and retailing gold and diamond jewellery and the above-average capital structure. PC Jeweller, however, clarified that Indian jewellery demand during Q2 at 101.6 tonnes was almost a third lower year on year due to weaker consumer sentiments and there was a decline of nearly 51% in Indian bullion imports on quarter on quarter basis. The announcement was made after trading hours yesterday, 9 December 2019. Shares of PC Jeweller tumbled 15.86% in four trading sessions to its current market price of Rs 23.60 from its recent closing high of Rs 28.05 on Wednesday, 4 December 2019. Meanwhile, the S&P BSE Sensex was down 96 points or 0.24% to 40,391.32. The PC Jeweller stock hit an intraday high of Rs Rs 24.75. It hit an intraday low of Rs 23.50, which is also an all-time record low for the counter. It hit a 52-week high of Rs 167.60 on 18 April 2019. In the past one month, shares of PC Jeweller slumped 30.69% to its current market price of Rs 23.60. On the technical front, the stock's RSI (relative strength index) stood at 21.745. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. The stock was currently trading below its 50-day moving average (DMA) placed at Rs 26.91, and below its 200 DMA placed at Rs 31.13. On a consolidated basis, PC Jeweller's net profit fell 51.2% to Rs 46.38 crore on 29.6% decline in net sales to Rs 1,212.19 crore in Q2 September 2019 over Q2 September 2018. PC Jeweller is engaged in the business of manufacture, retail and export of jewelry.
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Vishwaraj Sugar Industries Ltd, Pokarna Ltd, SORIL Infra Resources Ltd and Country Condos Ltd are among the other gainers in the BSE's 'B' group today, 10 December 2019. TCI Finance Ltd surged 19.94% to Rs 12.63 at 12:03 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 1.36 lakh shares were traded on the counter so far as against the average daily volumes of 10271 shares in the past one month. Vishwaraj Sugar Industries Ltd soared 10.11% to Rs 93.15. The stock was the second biggest gainer in 'B' group. On the BSE, 33356 shares were traded on the counter so far as against the average daily volumes of 37963 shares in the past one month. Pokarna Ltd spiked 9.99% to Rs 109. The stock was the third biggest gainer in 'B' group. On the BSE, 29750 shares were traded on the counter so far as against the average daily volumes of 14431 shares in the past one month. SORIL Infra Resources Ltd jumped 9.99% to Rs 107.9. The stock was the fourth biggest gainer in 'B' group. On the BSE, 5306 shares were traded on the counter so far as against the average daily volumes of 18142 shares in the past one month. Country Condos Ltd exploded 9.95% to Rs 2.21. The stock was the fifth biggest gainer in 'B' group. On the BSE, 11591 shares were traded on the counter so far as against the average daily volumes of 3524 shares in the past one month.
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eClerx Services Ltd, Sun Pharma Advanced Research Company Ltd, J B Chemicals & Pharmaceuticals Ltd and Reliance Power Ltd are among the other gainers in the BSE's 'A' group today, 10 December 2019. New India Assurance Company Ltd spiked 8.02% to Rs 142.8 at 11:48 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.56 lakh shares were traded on the counter so far as against the average daily volumes of 46795 shares in the past one month. eClerx Services Ltd soared 7.20% to Rs 513.35. The stock was the second biggest gainer in 'A' group. On the BSE, 9309 shares were traded on the counter so far as against the average daily volumes of 15115 shares in the past one month. Sun Pharma Advanced Research Company Ltd surged 5.63% to Rs 171.65. The stock was the third biggest gainer in 'A' group. On the BSE, 1.68 lakh shares were traded on the counter so far as against the average daily volumes of 1.57 lakh shares in the past one month. J B Chemicals & Pharmaceuticals Ltd rose 5.22% to Rs 423.2. The stock was the fourth biggest gainer in 'A' group. On the BSE, 25264 shares were traded on the counter so far as against the average daily volumes of 10037 shares in the past one month. Reliance Power Ltd spurt 4.64% to Rs 3.38. The stock was the fifth biggest gainer in 'A' group. On the BSE, 15.28 lakh shares were traded on the counter so far as against the average daily volumes of 38.51 lakh shares in the past one month.
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TVS Motor Company (down 1.06%), Hero MotoCorp (down 1.04%), Ashok Leyland (down 1.03%), Maruti Suzuki India (down 0.87%), Escorts (down 0.86%), Mahindra & Mahindra (down 0.71%), Tata Motors (down 0.59%), Bajaj Auto (down 0.3%) declined. Eicher Motors was up 0.1%. Meanwhile, the S&P BSE index was down 122.64 points or 0.30% to 40,364.79. The S&P BSE Auto index slipped 0.68% to 17,505, underperforming the benchmark Sensex. As per the Society of Indian Automobile Manufacturers (SIAM) data, domestic passenger vehicle sales fell by 0.84% to 2.63 lakh units in November 2019 from 2.66 lakh units in November 2018. Domestic car sales were down 10.83% to 1.60 lakh units as against 1.79 lakh units in November 2018. Motorcycle sales last month declined 14.87% to 8.93 lakh units as against 10.49 lakh units a year earlier. Total two-wheeler sales in November declined 14.27% to 14.10 lakh units compared to 16.45 lakh units in the year-ago month. Sales of commercial vehicles were down 14.98% to 61,907 units in November 2019 over November 2018. Vehicle sales across categories registered a decline of 12.05% to 17.92 lakh units from 20.38 lakh units in November 2018, it added.
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| Dilip Buildcon through joint venture has been declared L-1 bidder for the project part design and construction of elevated viaduct, elevated ramp, siding lines, viaduct for connection to Mukundpur depot and four elevated stations, Phase-IV of Delhi MRTS and partly integrated and partly independent flyover of PWD between Azadpur and Derawal Nagar on G T Road by Delhi Metro Rail Corporation, the company said in a filing. The completion period of the 7.4-km work is 30 months, it added. The announcement was made before market hours today, 10 December 2019. Meanwhile, the S&P BSE Sensex was down 91 points or 0.23% to 40,396.06. Shares of Dilip Buildcon fell 7.70% in the past six trading sessions to settle at Rs 377.10 yesterday, 9 December 2019, from its close of Rs 408.60 on 29 November 2019. In the past one month, shares of Dilip Buildcon dropped 10.01% to its current market price of Rs 377.10. On the technical front, the stock's RSI (relative strength index) stood at 40.596. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. The stock was currently trading below its 50-day moving average (DMA) placed at Rs 403.63, as well as below its 200 DMA placed at Rs 467.56. Dilip Buildcon's consolidated net profit tumbled 56.9% to Rs 25.87 crore on 15.4% increase in net sales to Rs 1,994.40 crore in Q2 September 2019 over Q2 September 2018. Dilip Buildcon is engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The company undertakes contracts from various government and other parties and special purpose vehicles promoted by the firm.
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