POST - MARKET (STOCKS - NEWS)(01 DEC 2008)

Auto stocks fell a weak outlook for the sector. Maruti Suzuki India extended losses falling 9.4% on 24.4% fall in vehicle sales to 52,711 units in November 2008 over November 2007.
India's largest commercial vehicle maker by sales Tata Motors fell 2.64% on plan to raise deposits from public. Tata Motors will pay as much as 11% annual interest on deposits held for three years, the company said today in a newspaper advertisement.
Mahindra & Mahindra, Hero Honda Motor fell by between 3.37% to 5.69%. India's largest scooter maker by sales Bajaj Auto lost 4.33% as the total vehicle sales fell 32% to 1,59,747 units in November 2008 over November 2007.
High interest rates and sluggish consumer spending have dented demand for automobiles, including for trucks, motorcycles and scooters.
Real estate stocks declined on a recent brokerage report that realty prices are set to correct by 30% in the coming months given the general slowdown in the economy. Realty majors, Indiabulls Real Estate, DLF, Omaxe slipped by between 1.99% to 9.96%.
Banking stocks slipped after early gains as worries of rising defaults offset hopes of a further cut in interest rates by the RBI. India's largest commercial bank State Bank of India (SBI) fell 2.84% to Rs 1,055.95 off the day's high of Rs 1,125.85. India's largest private sector bank by net profit ICICI Bank fell 7.21% to Rs 326.05, off the day's high of Rs 364.50. The ICICI Bank American depository receipt (ADR) gained 7.8% on Friday, 28 November 2008.
India's second largest private sector bank by net profit HDFC Bank fell 2.29% even as ADR added 5.54% on Friday.
India Infoline rose 2.65% on a decision to buyback own shares at a price not exceeding Rs 43.20 a share, a 17.23% premium to the ruling market price
IT stocks slipped on US recession worries offset a weaker rupee and rise in ADRs on Friday, 28 November 2008. India's third largest IT exporter by sales Satyam Computer Services fell 2.94% even as its American depository receipt (ADR) rose 0.87% on Friday.
India's second largest IT exporter by sales Infosys slipped 0.59% even as ADR gained 3.46%. India's fourth largest IT exporter by sales Wipro fell 3.9% even as ADR rose 1.2%. However, India's largest IT exporter by sales Tata Consultancy Services rose 1.06%.
The Indian rupee weakened in afternoon trade on Monday as sharp losses in the share market raised concerns of further capital outflows, but likely central bank intervention prevented a further fall. The partially convertible rupee was at 50.33/36 per dollar, 0.5% weaker than Friday's close of 50.09/12. It had hit record low of 50.60 on Nov. 20..A weaker rupee augurs well for the sector as IT firms earn most of their revenues from exports.
Cement stocks were mixed on reports cement manufacturers have urged the government to rationalise the tax structure for the industry to help achieve a strong economic growth. ACC, Ultratech Cement, Birla Corporation of India fell by between 0.15% to 1.24%. Ambuja Cements and Grasim Industries rose by between 0.48% to 175%.
Metal stocks declined on worries a weakening domestic and global economy will hit demand. Hindalco Industries, Steel Authority of India fell by between 1.73% to 4.27%.
But India's largest steel maker by sales Tata Steel rose 1.69% on reports the domestic steel industry is all set to get more help from the government. The centre, which already imposed import restrictions on a number of steel products, has now initiated anti-dumping investigations on imports of a wide range of stainless steel and steel items from countries including China, Japan, South Korea, the US and the EU.
Capital goods stocks fell on worries a slowing economy will crimp orders. Bharat Heavy Electricals, Larsen & Toubro and Suzlon Energy fell by between 3.22% to 6.71%.
Airline stocks were mixed after state-run oil companies on Saturday, 29 November 2008, again cut Aviation Turbine Fuel (ATF) prices by Rs 2,480 per kilolitre, effective 1 December 2008. Jet Airways fell by 1.24%, Kingfisher Airlines was flat at Rs 27.50, and SpiceJet rose by 0.65%. Fall in ATF prices would improve the bottomline of airliners as jet fuel forms more than 50% of the operating cost.
Hospitality shares were mixed after the two main hotels -- Taj Mahal Hotel and Oberoi-Trident in Mumbai were hit by the last week's terror attacks. Indian Hotels Company, which operates the Taj group of hotels, fell 0.62% whereas EIH, which operators the Oberio group of hotels, rose 2.05%.
Unitech clocked the highest volume of 2.51 crore shares on BSE. Suzlon Energy (94.07 lakh shares), GVK Power & Infrastructure (92.55 lakh shares), Reliance Natural Resources (63.96 lakh shares) and ITC (56.21 lakh shares) were the other volume toppers in that order.
Reliance Industries clocked the highest turnover of Rs 265.01 crore on BSE. State Bank of India (Rs 204.92 crore), Educomp Solutions (Rs 165.18 crore), Reliaence Capital (Rs 129.39 crore) and ICICI Bank (Rs 114.98 crore) were the other turnover toppers in that order.
Rajshree Sugars & Chemicals rose 1.21% on reports New York-based Bunge is in talks with the company to pick up a substantial stake.
Zicom Electronic Security Systems was locked at upper limit of 5% at Rs 49.20 on BSE on hopes the recent terror attack in Mumbai may boost demand for security products across India.
Arvind soared 1.65% after its board approved demerging its brands and retail business divisions into separate units.
Astra Microwave Products surged 4.4% on BSE, on bagging an order worth Rs 57.31 crore.