Sensex Trades Marginally Higher; Tata Motors & SBI Top Gainers

Share markets in India are presently trading on a positive note. Sectoral indices are trading mixed with stocks in the telecom sector and oil & gas sector witnessing maximum buying interest while IT stocks and capital goods stocks are witnessing selling pressure.

The BSE Sensex is trading up by 124 points (up 0.4%), while the NSE Nifty is trading up by 31 points (up 0.3%). The BSE Mid Cap index is trading up by 0.4% and the BSE Small Cap index is trading on a flat note.

The rupee is trading at Rs 69.85 against the US$.

In the news from the automobiles sector, Tata Motors share price is witnessing buying interest today on strong growth in US JLR (Jaguar land rover) sales.

The total JLR US sales rose 24% at 14,079 units against 11,394 units last year.

The total land rover US sales have risen 33% at 10,617 units against 7,980 units last year and the total Jaguar US sales rose 1.4% at 3,462 units against 3,414 units in December 2017.

Tata Motors share price is presently trading up by 2.8%.

Moving on to the news from the aviation space, Jet Airways share price is witnessing selling pressure today on reports that that the cash-strapped airline has proposed lenders to securitize revenue from ticket sales against outstanding debt.

Here's an excerpt from the article: As per an article in The Economic Times, the debt-laden company, which defaulted on loan repayments last month is also said to have approached the upper division of officials earlier this week in pursuit of a rescue by state-run banks.

  • Jet chairman Naresh Goyal and the top management of India's second-biggest airline by market share are to meet other creditors, including leasing companies facing delayed payments, early next week. Jet is likely to propose a fresh repayment schedule that involves haircuts.

On Thursday, rating agency ICRA downgraded the airline's loan and debenture ratings.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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