Sensex Trades Marginally Lower; Tata Motors & Yes Bank Slip Over 5%

Share markets in India are presently trading on a negative note amid weak global cues.

The BSE Sensex is trading down by 136 points (down 0.4%), while the NSE Nifty is trading down by 52 points (down 0.5%). The BSE Mid Cap index and the BSE Small-Cap index are trading down by 0.8%.

Sectoral indices are trading in red with stocks in the metal sectortelecom sector and realty sector witnessing maximum selling pressure. Meanwhile, automobile stocks are trading in green amid reports that the government may postpone the hike in registration fees for vehicles.

The rupee is currently trading at Rs 71.55 against the US$.

In news from the engineering sectorCG Power and Industrial share price is witnessing selling pressure today. Stock of the company plunged as much as 20% to hit an all-time low of Rs 11.80.

The Ministry of Corporate Affairs (MCA) has ordered an inspection into the affairs of the company after reports of financial wrongdoings came into the light.

Yesterday, shares of the company fell 20% after the company in a regulatory filing said that an internal probe uncovered some irregularities in the financial statements of the company.

The filing said, "while working on one of its priority tasks of seeking refinancing of certain facilities and as a part of conducting financial analysis in this regard, the Operations Committee was made aware of some unauthorized transactions by certain employees of the company".

The probe was triggered after auditors of the power equipment maker resigned a few months ago.

An audit committee of the company flagged off unauthorized transactions by certain employees of the company leading to an understatement of not only the company's liabilities but also advances to related and unrelated parties of the group.

Reports state that the company is planning to conduct a detailed forensic investigation to establish the accountability of wrongdoings and will take requisite legal actions to protect its interest.

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