Benchmarks turn red; auto shares rise for 2nd day

The key equity barometers slipped below the flat line and traded with minor cuts in morning trade. The Nifty traded below the 17,750 mark. Autos shares advanced for second consecutive session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was down 83.48 points or 0.14% to 59,748.18. The Nifty 50 index lost 11.55 points or 0.07% to 17,719.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.06% while the S&P BSE Small-Cap index declined 0.17%.

The market breadth was negative. On the BSE, 1,349 shares rose and 1,715 shares fell. A total of 110 shares were unchanged.

Buzzing Index:

The Nifty Auto index added 1.49% to 12,885.10. The index has added 1.49% in two sessions.

Tube Investments of India (up 4.19%), Maruti Suzuki India (up 1.82%), Tata Motors (up 1.44%), Eicher Motors (up 1.41%) and Sona BLW Precision Forgings (up 0.87%) were the top gainers.

Among the other gainers were MRF (up 0.77%), TVS Motor Company (up 0.38%), Ashok Leyland (up 0.28%) and Bharat Forge (up 0.08%).

Stocks in Spotlight:

Torrent Pharmaceuticals added 0.60%. On consolidated basis, the company`s net profit slipped 1.3% to Rs 312 crore on 7.2% increase in net revenue from operations to Rs 2,291 crore in Q2 FY23 over Q2 FY22.

KEC International rose 1.56%. The global infrastructure EPC major said it secured new orders of Rs 2,042 crore across its various businesses.

SJVN advanced 0.93%. The state-run power player said it will commission a 75 MW solar project at Kalpi in Uttar Pradesh by month-end. The project will generate 168.34 million units (MUs) in the 1st year and the project`s cumulative energy generation over a period of 25 years would be about 3,919 MUs. This will help in annual enhancement of revenue to the tune of approximately Rs 45.11 crore. The power purchase agreement (PPA) for the same has been signed with Uttar Pradesh Power Corporation Limited (UPPCL) for 25 years.

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