Markets were down today, without being able to continue the positive streak of yesterday. The Nifty was down by 106 points at 10430 and the sensex was down by 306 points at 34344. The weak Global cues and the falling rupee are responsible for the Markets to slide. Though the results have been fairly good markets have not gone up, due to the weak participation by investors and the company results not upto expectations as predicted by the analysts.
Good Stocks are good stocks as quoted by Radhakrishna Damani the promoter of D Mart and a legendary Investor. Dharavi is Dharavi and Peddar Road is Peddar Road as quoted by him on his passion for expensive stocks in valuation. The upward movement is held now, due to the weak pshycology of the Stock Market.
Bajaj Electricals posted a profit of inr 7.3 crores for March quarter.Gravita rose 2% at inr 165.60 on Nse, as the company signed a contract with Amar Raja Batteries for lead acid Battery scrap collection and recycling arrangements.
Patanjali Toothpaste market share doubles as Colgate looses ground. Patanjali has been promoting Ayurveda toothpaste which colgate tried to catch up. Colgate in the 80s had said in its advertisement that charcoal used in toothpaste was bad but, now it is promoting the same. Patanjali was also a threath to Dabur but now, Colgate seems to be the victim giving advantage to Dabur a home grown FMCG company promoting ayurvedic products. Tata Motors Net Profit falls 50% to INR 2125 crores compared to the same quarter last year.
The drop is due to INR 2113 crores investment made by Tata Motors towards new vehicles and Technologies during the quarter.It has been investing continuously and developed new cars and Commercial vehicles. Tata Motors is a indigenious maker of cars and trucks so it takes time to make profits. It has deep pockets and is spending on new vehicles to capture the Market which Automobile companies do. Overall Markets will be range bound due to the various state elections, and the upcoming 2019 elections. Information is from Bloomberg quint and Moneycontrol and own.
