Post Market Analysis 08-09-2021

Benchmark Indian indices were little changed in a volatile session, as gains in banking, consumer durables and power stocks were offset by losses in I.T., telecom and auto stocks. The Sensex and Nifty closed 0.05% lower each.

Indian rupee fell 17 paise to close at 73.60 against the US dollar.

S&P BSE Power index rose 1.30%, S&P BSE Consumer Durables gained 1.18% and Nifty Bank advanced 0.82%. Nifty IT fell 0.78%, S&P BSE Telecom lost 0.51% and Nifty Auto dropped 0.52%

Stock in News Today

Maruti Suzuki: The automaker said its total production declined 8% to 1,13,937 units in August on a yearly basis due to chip shortage, as against 1,23,769 units. It also said total passenger vehicle production stood at 1,11,368 units in August 2021, compared with 1,21,381 units in August 2020.

KEI Industries: The company’s shares gained 6.49% to Rs 825.90 as investors hoped the company’s margin would improve in the coming months, according to CARE Ratings. It said improved operating environment and pent-up demand, could boost the market growth for wires and cables industry from which KEI is expected to benefit.

Neogen Chemicals: Shares of the company closed 8.92% higher at Rs 1198.70 after the company gave a positive outlook for the industry. In its annual report, it said the company is expected to gain market share due to growing demand from the end-user industries, such as, food, textiles and automobiles.

APL Apollo Tubes: Shares of the company soared 4.24% ahead of the company’s 1:1 bonus issue of shares. The company has fixed Saturday, September 18, 2021, as the record date, for determining the eligibility of shareholders entitled to issuance of bonus equity shares.