Indian Indices Continue Rally, CRISIL Maintains GDP Outlook, And Top Stocks In Action

On Tuesday, share markets in India opened in flat and ended on a positive note.

The BSE Sensex closed higher by 90 points to end at 34,443, at all -time high levels. While the broader NSE Nifty ended the day higher by 13 points to close at 10,637.

Among BSE sectoral indices, realty index rose the most by 2.9%, followed by consumer durables stocks at 0.8%. Coal India and Yes Bank were among the top gainers.

Top Stocks in Action Today

Coal India share price is likely to be in focus today after reports that the company has raised prices of thermal coal by an average 9%. Reportedly, the decision was taken at a board meeting held on Monday while revised prices would be effective from today. It will make power generation costlier by a similar percentage. Cost of cement and fertiliser production is also expected to rise as a result.

Tata Motors share price is among the stocks to watch today as the company reported record Jaguar Land Rover global sales in 2017 Jaguar Land Rover’s sales rose 7% to a record 621,109 vehicles in 2017 but Britain’s biggest carmaker said it faced tough conditions in its home market due to weakening consumer confidence and a planned diesel tax rise on new cars.

The company has embarked on a major turnaround plan since being bought by the Tata group in 2008. This includes investment in new models and expansion of production with the aim of building around 1 million vehicles a year by the turn of the decade.

CRISIL Maintains GDP Projection

Rating agency CRISIL in its latest report has maintained its projection of India’s economic growth in 2018-19 to 7.6% on the low base.

The rating agency attributed the continuing slowdown to the after-effects of the demonetisation exercise, the Goods and Services Tax (GST) implementation and weakness in agriculture.

The CRISIL note comes days after the Central Statistics Office (CSO) came out with its First Advance Estimates of National Income, 2017-18, in which it stated that Indian economy is expected to grow at a four-year low of 6.5% in the current fiscal year 2017-18, as against 7.1% in the fiscal year 2016-17.