Traders at a Brokerage Firm in Mumbai, India (Photographer: Prashanth Vishwanathan/Bloomberg)

Stocks Radar: Wipro, Coal India, Tata Motors And More 

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Indian shares dropped the most in two-weeks tracking weak Asian trade after fresh concerns emerged around the pickup in U.S. economy and stability in Europe.

Here are the stocks that are moving the market

Tata Motors



An advertisement for the Tata Motors Tiago hatchback is displayed inside the Prabhadevi Concorde Motors India Ltd. dealership in Mumbai (Photographer: Dhiraj Singh/Bloomberg)
An advertisement for the Tata Motors Tiago hatchback is displayed inside the Prabhadevi Concorde Motors India Ltd. dealership in Mumbai (Photographer: Dhiraj Singh/Bloomberg)

Shares of the automaker climbed as much as 1.1 percent to Rs 453 after it managed to buck the falling sales trend seen in most of its peers in November. Total sales stood at 38,900 vehicles during the month, compared to 38,918 vehicles in November 2015.

Sale of passenger vehicles grew 22 percent led by sales of Tiago while exports jumped 57 percent on the back of strong demand for commercial vehicles. In India, commercial vehicles sales were the worst hit, declining 17 percent to 20,538 units. The company attributed the decline to the government’s demonetisation drive.

Domestic sales of passenger and commercial vehicles took a hit, falling 6 percent to 33,274 units.

The impact of demonetisation was felt across all (truck) segments.
Tata Motors’ statement on commercial vehicle sales in November

TVS Motor Company

Shares of the two-wheeler maker fell as much as 2.8 percent to Rs 357 after its sales remained flat during November due to a short-term impact from demonetisation.

We are seeing a pickup already happening and we believe, it is a very good move for the country in the long-term.
TVS Motor Company’s press release.

Sale of two-wheelers picked up marginally by 0.6 percent to 2,19,088 vehicles. Sale of three-wheelers dropped 23.5 percent to 5,883 units, the company said in its press release.

Hero MotoCorp

Shares of India’s largest two-wheeler maker fell 1.3 percent to Rs 3,150 after its sales dropped in the month of November. The company sold 4,79,856 units in the month of November, it said in its filing to the exchanges.

The company attributed the fall to the ban on currency notes of higher denomination but expected the situation to improve gradually in the coming days.

With the slew of measures being implemented by the government, and several initiatives immediately undertaken by Hero MotoCorp to support its dealers and consumers, the company expects the situation to steadily improve. 
Hero MotoCorp’s filing to the exchanges 

Bajaj Auto

Shares of the bike maker fell 1.6 percent to Rs 2,653 after its sales dropped 13 percent in the month of November. The company has just started to recover from four consecutive months of degrowth in October.

Motorcycle sales fell 12 percent to 2,37,757 vehicles compared to 2,70,886 vehicles in the year ago period, while commercial vehicle sales too fell 17 percent to 32,191 vehicles as against 38,787 vehicles in November 2015.

The company was expecting a 25 percent fall in monthly sales in November after Prime Minister Narendra Modi’s demonetisation drive starting from November 8. The stock recovered in some time after the announcement of its sales figures.

Wipro

Shares of the IT company rose 1.4 percent to Rs 475 after it was awarded three-year contract for IT infrastructure services and "digital transformation" by Australian oil and gas company Woodside.

The engagement will include delivering infrastructure services to offshore maritime facilities and potential exploration sites, the company said in a filing to the exchanges.

This win is a realisation of our strategy of investing in major resource basins globally with a view to be closer to our clients and combining it with our extensive oil and gas experience, strong IT infrastructure services and digital transformation capabilities.
Manoj Nagpaul, Chief Sales and Operations Officer, Asia Pacific Japan, Wipro 

Coal India



A sack of coal sits on the ground at a coal wholesale market in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)
A sack of coal sits on the ground at a coal wholesale market in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Shares of the biggest coal producer in the world rose 1.8 percent to Rs 311 after it achieved 93 percent of its production target in November 2016, producing 50 million tonnes of coal.

The company also achieved 97 percent of its offtake target during the month, selling 48,16 million tonnes of coal.

Jindal Drilling & Industries

Shares of the oil and gas exploration company dropped as much as 5.7 percent to Rs 175 after an arbitration award had been passed against the company, making it liable to pay $31.77 million with other expenses and interest charges.

The arbitration claim is almost double of the company's profit of Rs 127 crore in financial year 2015-16. Jindal Drilling had cash reserves amounting to Rs 108 crore as of March 31, 2016.

Earnings Reaction

  • Dilip Buildcon (-9.1 percent to Rs 231)
  • Clariant Chemicals (India) (-2.2 percent to Rs 715)

Earnings Watch

  • Ashoka Buildcon (+1.5 percent to Rs 145)
  • Endurance Technologies (-1.6 percent to Rs 575)
  • IL&FS Transportation Networks (-2.1 percent to Rs 99)
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