Mahindra’s overall automotive sales (Domestic + Exports) stood at 43,343 vehicles in September 2019, compared to 55,022 vehicles during September 2018. Numbers were ahead of Nomura expectation of 36,000 units.
Commenting on the performance, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. said, “We are positive that this festive season, with the onset of Navratra, will augur well for us and the automotive industry. This, in addition to factors such as the good monsoon and recently announced positive government initiatives should help revive the industry in the short term.”
Shares of Mahindra and Mahindra were trading 3.43% higher to the intraday high of Rs 566 on BSE, after the annoucnement.
The Indian rupee has opened higher by 14 paise at 70.73 per dollar in the early trade on Tuesday, as compared to its previous close of 70.87 against the Amercian currency yesterday.
Asian shares are trading in the bullish territory. Japan's Nikkei rose 0.74% while MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.24% and Australia's benchmark by 0.25%.
Oil prices rebounded in early Asian trade on Tuesday after production at the world’s largest oil producers fell in the third quarter, although demand concerns continued to keep a keep a lid on prices.
Shares of BPCL climbed to a 52-week high after media reports suggested that in a disinvestment move, a panel of secretaries has proposed that the government to exit 4 public sector undertakings (PSUs) fuel retailers namely Bharat Petroleum, Shipping Corporation of Indi of India, and power companies THDC and NEEPCO. Additionally, they have also proposed the government to reduce its holding in Concor from around 55% to 25%.
Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 469.40 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 504.69 crore on Tuesday.
Shares of PNB Housing Finance fell 4.6% to touch a 52-week low of Rs 556.70 on Tuesday after the housing lender announced resignation of chairman of the company.
Sensex Today: Equity benchmark indices have turned bullish after the first hour of trade, with Sensex rising 160 points to 38,820 and Nifty trading 45 points higher at 11,520 level.
IRCTC IPO has been subscribed 1.12 times, meaning 12% higher above the full extent by 10:45 IST, amounting to 2.25 cr total bids recieved against the toal issue size of 2.106 cr on its second day of bidding process, Oct 1, 2019, the data available on exchanges show.
India September Nikkei Manufacturing PMI remained unchanged at 51.4 compared to previous month.
Sensex Today: IT, metal, banking realty are currently dragging the index down while media, pharma, FMCG, auto, financial services and energy are helping the broder indices recover losses.
A group of secretaries Panel on disinvestment has approved sale of government’s entire shareholding in four public sector companies – Bharat Petroleum Corp Ltd (BPCL), Shipping Corp of India (SCI), THDC India and NEEPCO. The government holds 53.3% stake in BPCL, 54.8% in Concor and 63.75% in SCI. It also cleared a sale of 30% equity of Container Corp of India (Concor) from the government holding. 
The top gainers of the NSE Nifty pack were Bharat Petroleum Corporation Ltd. (5.63%), YES Bank Ltd. (2.42%),, Housing Development Finance Corporation Ltd. (2.04%), Mahindra & Mahindra Ltd. (1.78%), Eicher Motors Ltd. (1.78%), among others.
Sensex Today: Equity benchmark indices have turned volatile by the afternoon session of Tuesday, with Sensex trading flat around the 36, 680 level and Nifty trying to hold 11,500 mark.
Chinese companies listed in the U.S. bounced back as the White House downplayed reports it was looking to delist them. Chinese companies looking to list on the Nasdaq, however, will face tighter restrictions.
Sensex Today: Equity indices has fallen over 1%, with Sensex tanking 400 points to 38,200 level and Nifty declining 130 points at 11,350 mark.
Indiabulls Housing Finance recovered from losses, declining 4% currently as against 11% intraday low after the company declared that Delhi HC issued notices to Prashant Bhushan on applications filed by Indiabulls Housing Finance Limited for Perjury and for dismissal of the PIL today.