Sensex falls 425 points, NIFTY settles at 10,944 weighed by Autos

Benchmark indices ended over 1 per cent lower on Friday, weighed by a sharp sell-off in the automobile and metal stocks.

The S&P BSE Sensex ended at 36,546, down 425 points or 1.15 per cent, while the broader Nifty50 index settled at 10,944, down 126 points or 1.14 per cent.

Among sectoral indices, the Nifty Auto index, the top loser of the day, settled 3.6 per cent lower as Tata Motors, MRF and Mahindra & Mahindra (M&M) lost considerable ground. Nifty Metal index ended 3.4 per cent lower with SAIL and Vedanta among the top losers.

In the broader market, the S&P BSE MidCap index ended 203 points or 1.40 per cent lower at 14,328, while S&P BSE SmallCap index settled at 13,656, down 122 points or 0.89 per cent.

Shares of Tata Motors ended 17.88 per cent lower at Rs 150.15 apiece on National Stock Exchange (NSE) after the auto major reported the biggest quarterly loss among Indian corporates as it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter on Thursday.

Shares of Mahindra & Mahindra settled at Rs 683, down 2.64 per cent on the BSE after the company and its subsidiary Mahindra Vehicle Manufacturers reported a 60 per cent YoY rise in their consolidated net profit at Rs 1,476 crore for third quarter (October-December) of FY19.

Siemens India seems to have benefitted from earlier setbacks. The engineering major announced its December quarter (Q1; fiscal year starts from October) on Wednesday and made it public that the European Commission (EC) has rejected the proposed merger of the mobility businesses of its German parent, Siemens AG and France’s Alstom SA.

Shares of Khadim India hit a new low of Rs 382 apiece, down 15 per cent on the BSE in intra-day trade on Friday, after the footwear company reported a weak set of numbers for the quarter ended December 2018 (Q3FY19). The stock was trading at its lowest level since its listing on November 14, 2017. It plunged 49 per cent from its issue price of Rs 750.

Shares of MRF slipped 4 per cent to Rs 57,097 apiece on BSE in the intra-day trade on Friday after the company posted 18 per cent decline in net profit at Rs 279 crore for December quarter (Q3FY19), due to higher other expenses. It had reported a profit of Rs 341 crore in a year-ago quarter. Operational revenue grew 6 per cent at Rs 4,034 crore against Rs 3,799 crore during the corresponding quarter of previous fiscal.

Shares of Bata India, Titan Company, Tech Mahindra and Divi’s Laboratories from the S&P BSE 500 index hitting their respective new highs on the BSE in an otherwise weak market. The benchmark S&P BSE Sensex was trading 0.67 per cent lower at 36,724 points at 10:42 am. Bata India was up 2 per cent to Rs 1,216 ahead of the board meeting on Tuesday, February 12, 2019, to consider December 2018 (Q3FY19) results.

Shares of Tata Motors nosedived as much as 29.45 per cent to Rs 129 apiece on National Stock Exchange (NSE), their fresh 52-week low, a day after the auto major reported the biggest quarterly loss among Indian corporates as it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter.

Cadila Healthcare reported better-than-expected performance for the December quarter, driven largely by strong growth in US sales. Sales at Rs 3,516 crore, up 10.6 per cent year-on-year (YoY), came ahead of consensus estimates of Rs 3,227 crore.

Here are some picks from the week gone by.

Company: Godrej Consumer CMP: 684.00 Mastermind

Company: Indraprastha Gas CMP: 286.45 Mastermind

Company: Aurobindo Pharma CMP: 761.20 Mastermind

Company: Agro Tech Foods CMP: 587.00 Mastermind

Company: Vedanta Ltd. CMP: 154.60 Mastermind

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