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Moneycontrol BureauLive Market Commentary 02:20pm Interview
Bajaj Auto Managing Director Rajiv Bajaj sees motorcycle sales tempering near term , but is hopeful of three-wheeler sales rising.
The company sold a total of 3.51 lakh vehicles in May, 5 percent more than what it did in April.
In an interview with CNBC-TV18, Bajaj said better exports would boost the company's operating margins.
The company exported 1.56 lakh units in May, compared to 1.5 lakh units in April. Year-on-year, exports were up a robust 40 percent.
He said the company's market share in the motorcycle segment was stady at 19 percent. Monthly sales of Boxer brand were up nearly 40 percent to 70,000, but the Discover brand continued to pose a challenge, Bajaj said.
02:10pm FII View
The bond market is currently not factoring in any change in the RBI monetary policy of Tuesday, said Neeraj Gambhir of Nomura.
He expects a status quo on rates, however, Gambhir thinks markets will look forward to the guidance by the RBI with regard to factors like inflation, El Nino.
Highlighting Budget to be the next trigger, he expects rupee to remain stable till then. "It's been pretty sustained rally for the rupee over the last month or so. It emerged as one of the most outperforming currencies among the emerging markets."
He sees more flows into India if the Union Budget is reformist.
02:00pm Equity benchmarks continued to be on strong footing supported by banking & financials, PSU, oil & gas and capital goods stocks. The Sensex rose 408.60 points or 1.69 percent to 24625.94 and the Nifty climbed 118.95 points or 1.65 percent to 7348.90. Advancing shares outnumbered declining ones by a ratio of 1860 to 1033 on the BSE.
Bank Nifty gained 421 points to 15214 as top lenders State Bank of India, ICICI Bank, HDFC Bank and Axis Bank rallied 3-4 percent. Housing finance company HDFC jumped nearly 3 percent.
Engineering and construction major Larsen & Toubro spiked 6 percent after reporting strong numbers in fourth quarter. ONGC, Tata Steel, BPCL and Jindal Steel climbed 3-4 percent.
However, Sun Pharma, ITC, Wipro, Dr Reddy's Labs, HUL, HCL Technologies and Lupin fell 1-2 percent.
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