Stock Market Opening Bell 28-Feb-2019: CapitalHeight

Stock Market Opening Bell

CH: OPENING BELL

NIFTY FUTURE UP 40 @ 10849

BANK NIFTY FUTURE UP 71 @ 26887

SENSEX UP 157 @ 36062

INR @ 71.15

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Volvo wants to lead EVs race in India

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Volvo, which has already finalized plans to locally assemble plug-in hybrid vehicles, is now considering local assembly of EVs.

Having been on the fringes of the Indian luxury car market, Swedish luxury carmaker Volvo Car India wants to lead the way in the electrified vehicle portfolio in the country ahead of its German rivals. Volvo, which has already finalised plans to locally assemble plug-in hybrid vehicles, is now considering local assembly of electric vehicles in the country. 

The company is on course to launch the first plug-in hybrid vehicle assembled locally in India later this year and plans to have a portfolio of half- a-dozen plug-in hybrids and battery-operated electric vehicles in India by 2021. 

The government’s decision last month to reduce customs duty on import of components for electric vehicles from a range of 15-30% to 10-15% has made a business case for Volvo to assemble electric vehicles in India, Charles Frump, MD of Volvo Car India, told ET. .. 
“It was a big announcement from the government with the customs duty reduction for battery electric vehicle (components). Immediately after we heard about this customs reduction, I jumped on a phone to Sweden to start talking about what we can do for India,” Frump said on the sidelines of the inauguration of the company’s 25th dealership here.

Volvo set up a facility near Bengaluru to assemble its vehicles locally in 2018 to compete more aggressively in the highly competitive 40,000-uni ..

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Stock To Watch For Today : Newgen Software Technologies

Newgen Software Technologies Limited Newgen Software Technologies Limited has formed a symmetrical triangle on the daily charts between the price ranges of 290 and Rs 314 over the last four weeks. The price has rallied above average volumes indicating buying participation and is now trading at nick line.

Newgen Software giving upside breakout via Bollinger Band indicating a continuation of the trend in the direction of the breakout on the daily charts. Thus, the stock can be bought at current levels 300-301 and a stop loss below 285 for a target of 310-325.

Daily Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

Market Commentary:

Newgen Software Technologies Limited At the close of market hours, the Sensex was down 336.17 points or 0.92% at 36108.47, and the Nifty down 91.30 points or 0.84% at 10831.50.

SUN PHARMA, YES BANK, TATA STEEL,WIPRO, ZEEL were the top gainers among Nifty 50 stocks while ITC,GRASIM,IBULHSGFIN, TITAN, M&M were the top losers.

News Highlights :

  • FMCG major ITC reported 4 percent year-on-year (YoY) growth in profit at Rs 3,209 crore for the third quarter ended December 2018.
  • Tata Motors may follow its peers and jump on the electric vehicle bandwagon next year, as the clamour for green mobility grows.

Daily Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

Stock Market Closing Bell 21-Jan-2019: CapitalHeight

stock market closing bell

CH: CLOSING BELL

NIFTY FUTURE UP 37 @ 10964

BANK NIFTY FUTURE UP 17 @ 27565

SENSEX UP 192 @ 36578

INR @ 71.24

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International Market Update by Money CapitalHeight

CH: INTERNATIONAL MARKET UPDATE

GOLD $ 1285.05

SILVER $ 15.45

COPPER $ 2.65

CRUDE $ 45.31

INR 69.59

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