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Last Updated : Dec 08, 2015 08:48 AM IST | Source: CNBC-TV18

Tata Motors in limelight on back of strong JLR sales in Nov

Stocks likely to be in the focus in today's trade are: Religare Enterprises, Tata Motors, Eros International Media, The Hi-Tech Gears, Oil and Natural Gas Corporation, Cairn India, Bharat Petroleum Corporation, Indian Oil Corporation, Hindustan Petroleum Corporation, Berger Paints India, Asian Paints, Kansai Nerolac Paints.

Stocks that are likely to be in focus today :

Tata Motors strong JLR November sales. Total Jaguar Land Rover retail sales rises by 27 percent at 46,547 versus 36,621 units year on year. Total JLR retail sales up by 12 percent at 46,547 versus 41,553 units month on month.Land Rover sales increases by 26 percent at 38,555 units year on year. Best sellers included RR Sport, LR Discovery and Range Rover. New Discovery Sport seeing strong demand, retail sales of 9,358 units. Jaguar sales up by 33 percent at 7,992 units year on year. UK sales up by 70 percent year on year. Europe sales increases by 68 percent year on year. reflecting the slowdown in economy year on year.

Religare Enterprises sells stake in life insurance JV for Rs 971.5 crore. Company sells stake to Benett, Coleman & Co Ltd. Religare Enterprises had 44 percent equity interest in life insurance Joint Venture. Religare had invested Rs 400 crore capital in insurance business. Insurance business contributed 8.5 percent to consolidated FY15 revenue. Current market cap at Rs 5,560 crore.

Rating agency ICRA has downgraded the rating on the proposed Rs 750-crore non-convertible debenture programme of Eros International Media Ltd citing concerns of parent company’s reduced financial flexibility and also revised outlook to negative from positive. ICRA said it has revised the the rating on Eros’ NCD programme to A+ from AA-.

The outlook on the rating has been revised to ‘negative’ from ‘stable’, the rating agency said in a statement. In a BSE filing, Eros said it has not issued any Non- Convertible Debentures (NCD) till date.

A ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk. Within this category, modifier “+ ” reflects comparative standing within the category, the company added. As per the rating agency, instruments with AA Instruments are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Hi- Tech Gears deal: Nemish Shah buys 7.28 lakh shares at Rs 265/share. Deal carried out at 4.6 percent discount to yesterday's closing price of Rs 281/share. This deal increases Nemish Shah's stake by 3.87 percent to 6.96 percent. Nemish Shah is the co-founder of ENAM.

Nymex Crude down 5.8 percent to USD 37.80/bbl. Expect ONGC, Cairn to be negatively impacted. Oil price fall positive for oil refiners like BPCL, IOC, HPCL. Crude fall also positive for airline stocks like Jet Airways, SpiceJet, IndiGo. Crude fall also positive for paint companies like Berger, Asian Paints, Kansai Nerolac.

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First Published on Dec 8, 2015 08:48 am
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