Auto stocks lead rise in India's benchmark indexes

Star Cement

27/12/2024 07:18

** NSE Nifty 50  .NSEI  and BSE Sensex  .BSESN  rise ~0.4%
each
    ** Eight of 13 major sectors advance; auto index
 .NIFTYAUTO  gains 1.4%
    ** Mahindra & Mahindra  MAHM.NS , Bajaj Auto  BAJA.NS  and
Tata Motors  TAMO.NS  up between 2%-3%; among top five Nifty 50
gainers
    ** DAM Capital expects Indian automakers' earnings to
rebound on rural demand recovery
    ** Financials  .NIFTYFIN  and pharma cos  .NIPHARM  rise
0.2% and 1%, respectively
    ** Nifty hovering around 200-day moving avg this week, with
clear directional cues likely only after quarterly earnings
starting in January second week, two analysts say
    ** Smallcaps  .NIFSMCP100  and midcaps  .NIFMDCP100  flat
    ** Water treatment plant maker VA Tech Wabag  VATE.NS  gains
3% on winning 7 bln-rupee ($81.7 mln) order
    ** Star Cement  STAT.NS  rises 2.3% after Ultratech Cement
 ULTC.NS  approves purchase of 8.7% stake in STAT at 2% premium
to Thursday close

($1 = 85.6770 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))