Hero seeks 3 months to exhaust BS-IV stock; Tata Motors may shut down Pune plant
The past week saw two new SUV launches but they almost went unnoticed. Hyundai and Volkswagen launched the new Creta and T-Roc respectively but they were overshadowed by news emerging due to coronavirus. That aside, Hero Motocorp quietly appealed to the SC for relaxation in the deadline of exhaustion of BS-IV stock.
In today’s automotive wrap find out why the company became the only one to do so even as its rivals appear to have managed their own BS-IV inventory better. But first here are the top headlines from the world of auto this week:-
Sensex has lost more than 30 percent so far this year, that's nearly 13,000 points and is down about 33 percent from its record high of 42,273 registered on January 20.
The average market capitalization of BSE-listed companies have come down by more than Rs 40 lakh cr in the same period. Tracking the sell-off in markets, nearly 30 companies have turned into midcaps from large-caps in the same period as fears of economic slowdown gripped equity markets across the globe.
PREV CLOSE: 28,869.51 (⇓
Traders should adopt “Hit and Run Gorilla Trades” which means they should not take overnight positions, should respect the intraday trend and square up their positions in a day itself.
Benchmark indices have fallen more than 20%g from their respective record highs registered in January effectively placing the Indian market in a bear phase.
Nifty | Nifty 50 | Nifty 50 Live | Bank Nifty | Sensex - Opening Today - 18 Mar 2020
The GRS Solution
Indian equity markets were trading with gains in Tuesday's highly volatile session that saw the volitality index, India VIX, surge over 7 per cent to a 12-year high level of 63.14.
The S&P BSE Sensex was hovering around 31,660 levels, up 240 points, or 0.76 per cent after falling as much as 500 points earlier in the session. The Nifty50 index was trading 54 points, or 0.6 per cent, higher at 9,250 levels. Majority of the Nifty sectoral indices were trading in the green with Nifty Metal index, up 3 per cent, and Nifty Pharma index, up 2 per cent, leading the gains.
Among individual stocks, shares of YES Bank rallied over 60 per cent to Rs 60.65 on the NSE after global rating age