NEW DELHI: Nifty Auto index was trading higher at 01:34PM (IST) on Tuesday. Shares of Tata Motors (up 5.65 per cent), Ashok Leyland (up 4.05 per cent), Bharat Forge (up 3.8 per cent), Eicher Motors (up 2.63 per cent) and Balkrishna Industries (up 2.18 per cent) were among the top gainers. While Amara Raja Batteries (down 1.33 per cent), Maruti Suzuki (down 1.13 per cent), Bajaj Auto (down 0.9 per cent) and Bosch (down 0.12 per cent) were the top losers in the index. The Nifty Auto index was trading 1.01 per cent up at 10403.65 around 01:34PM. Benchmark NSE Nifty50 index was up 87.35 points at 14763.05, while the BSE Sensex was up 230.03 points at 49974.35.
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MUMBAI: Jim Simons, considered one of the greatest money managers to ever walk on Wall Street, is credited with revolutionising global equity markets by introducing computer model-based trading strategies.
His hedge fund Renaissance Technologies, which uses quantitative strategies to make money for its clients, is the undisputed king of hedge funds, when it comes to performance.
In his book The Man Who Solved The Market, Gregory Zuckerman said that Simons flagship Medallion Fund generated annual returns of 66 per cent CAGR since 1988, beating the likes of Peter Lynch, Ray Dalio and even Warren Buffett.
Yet, the greatest money-maker in the world perhaps did not see the head-spinning rally in the shares of Tata Motors coming.
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NEW DELHI: HDFC Mutual Fund bought Tata Motors shares with both hands in January, along with some midcap non-banking financial companies even as the fund house dumped some of the biggest names from the Nifty50 index.
The fund management team led by Prashant Jain pounced on Tata Motors, buying 2.47 crore shares of the automaker. The stock has gained momentum in the past couple of months thanks to better-than-expected performance and a possible deal with Tesla.
The fund house also bought 10-95 lakh shares of NHPC, M&M Financial Services, Sun Pharma, Bharat Heavy Electricals Limited (BHEL), Lupin, Equitas SFB, Jindal Steel and Power and Coal India in hopes of a solid boosted for these companies from a domestic economic recovery.
Here are the top stocks to track in today s session:
Vodafone Idea: Thedebt-ridden telecom company reported narrowing of consolidated loss to Rs 4,532.1 crore in the third quarter ended on December 31, 2020, mainly on account of a one-time gain from stake sale in Indus Towers.
Tata Motors: The company, on Friday, said it has appointed Marc Llistosella as its Chief Executive Officer and Managing Director. He is the former President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia.
Q3 earnings: Jet Airways, Archana Software, Vantage Knowledge Academy and Hindustan Everest Tools are among 23 companies set to post quarterly numbers.
MUMBAI: Benchmark equity indices registered their lifetime highs helped by strong cues from global equities and likely buying from foreign portfolio investors, said dealers.
Risk appetite among investors remained strong as they bet on a structural recovery in the Indian economy that may help the country onward to a higher growth trajectory post the COVID-19 pandemic.
Jefferies’ Christopher Wood termed India the “best post-COVID-19 recovery story in Asia”, reflecting the optimism among investors for an economy that has entered a technical recession in the first two quarters of the current financial year due to the pandemic and subsequent nation-wide lockdown.