Morning News Headlines (3rd Feb 2020)
• Mahindra & Mahindra: Mahindra and Mahindra on Saturday reported a 6% decline in total sales at 52,546 units in January. The company had sold 55,722 units in the same month last year, M&M said in a statement. In the domestic market, sales were down 3% at 50,785 units last month compared to 52,500 units in January 2018. Exports dropped by 45% to 1,761 units as against 3,222 units in the year-ago month.
• Maruti Suzuki: The country's largest carmaker Maruti Suzuki India on Saturday reported a 1.6% increase in sales at 1,54,123 units in January. The company had sold 1,51,721 units in January last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased by 1.7% at 1,44,499 units last month, as against 1,42,150 units in January 2018, it added.
• Tata Motors: Tata Motors on Saturday reported a 17.74% decline in total sales at 47,862 units in January. The company had sold a total of 58,185 units in January 2019, Tata Motors said in a statement. Total domestic sales were down 18% at 45,242 units as compared to 54,915 units in January last year, it added.
• Coal India: January coal production grew 10.3% at 63.11 mt against 57.21 mt (YoY). January coal offtake grew 6.9% at 56 mt against 52.44 mt (YoY)
• Eicher Motors: January Sales - Total motorcycle sales went down 13% at 63520 units against 72701 units (MoM). Total exports went up 22% at 2228 units against 1829 units (MoM)
• Budget 2020: Bank's deposit insurance premia to rise by over Rs 28,000 cr.
• LIC listing could come in second half of FY21, says Finance Secretary.
• Revised 3.8% fiscal deficit for FY20 looks ambitious, says SBI Research.
• FPIs remain net buyers for 5th straight month in Jan; pump in Rs 12,000 cr.
• Investors lose Rs 3.5 trn m-cap as Sensex tumbles over 2% on Budget day.
• IDBI Bank share price jumps 15% as government announces divestment plan.
• Budget 2020: Dividend income gets costlier; DDT removal good for companies, bad for investors.
• JSW Steel bags two iron ore mines in Odisha.
• Supreme Court refuses to restrain DHFL from disbursing loans.
• Vedanta urges Supreme Court to vacate status quo order on Hindustan Zinc shareholding.