The market is flat as the Sensex is down 34.20 points at 27803.01. The Nifty is down 9.85 points at 8413.40. About 995 shares have advanced, 1433 shares declined, and 141 shares are unchanged. Coal India and Bajaj Auto are up 4 percent each. Axis Bank, Tata Motors and HUL are top gainers in the Sensex. Among the losers are Tata Steel, Vedanta, Cipla, ITC and Tata Power.
BSE Oil & Gas, FMCG and Healthcare and Bankex indices are down 0.4-1%. However, BSE Auto index has gained over 0.5%.Tata Steel is the top Sensex loser, down almost 5% after reporting a consolidated net loss of Rs 5,674 crore in the quarter ended March 2015 (Q4) due to a sharp decline in revenues and an exceptional loss of Rs 4,811 crore.
Vedanta has slipped by 2.5%. Rating agency Moody's today said that Vedanta will have to strengthen its balance sheet in FY16 to avoid further pressure on its ratings.
ITC and SBI are trading lower between 1-2% ahead of their earnings tomorrow.
Other notable losers are Cipla, GAIL, Tata Power, ICICI Bank, RIL and NTPC.
On the gaining side, Bajaj Auto has surged over 4%. The company reported a Q4 net profit of Rs 621.6 crore compared to 762.56 in the year-ago period, a decline of 18.5%. Total income fell 3.9% to Rs 4,739 crore in the quarter.
Mahindra & Mahindra and Tokyo-based Mitsubishi Heavy Industries (MHI) today entered into a strategic partnership for agricultural machinery. The stock is trading marginally positive.
The environment ministry has given Coal India the go-ahead to expand the Jhanjra underground mining project in West Bengal, one of the few such proposals in recent years, which will help the state monopoly extract coal worth more than Rs 8,000 crore without destroying forests. Coal India is up around 3%.
Axis Bank, HUL Tata Motors and Hero Moto are other notable gainer, up 1-3.5%.
Among other shares, ABG Shipyard has tanked nearly 20% to fresh 52-week lows of Rs 138 on the BSE in intra-day trades after the company said that the principal repayments of loans are yet to start.
UltraTech Cement has moved higher by 2.6% to Rs 3,110, extending its 9% rally in the past four days on the BSE, on plans to acquire Jaiprakash Associates' Bhilai plant.
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