The stock of Tata Motors plummeted nearly 10% on Tuesday after the auto major’s second quarterly profit fell short of Street expectations.

The Tata Motors stock eroded Rs15,057.51 crore from its market valuation. It slumped 9.88% to end at R457.25 on BSE. During the day, it tanked 10.99% to R451.60.

Chaotic scenes and seemingly never-ending queues can still be seen outside banks and ATMs as people hustled to get valid currency notes for meeting their daily expenses after the Centre last week demonetised the old higher value bills.

Cash-strapped people were seen waiting in frustration as most of the cash dispensing machines ran out of cash within hours after being stocked, while thousands of ATMs are still not functional. Adding to the customer woes, there have been reports of bank servers facing technical glitches.

After a strong opening, BSE benchmark Sensex trimmed initial gains but was still trading higher by 173 points in late morning trade, helped by fresh buying in IT, teck, auto, power and telecom sectors amid positive global cues.

However, sustained selling was seen in consumer durables, capital goods, metal and FMCG stocks.

In response to global prices and currency fluctuations, the three state-owned oil marketing companies (OMCs) have decided to lower the prices of petrol and diesel from midnight Tuesday.

According to the Indian Oil Corporation (IOC), retail petrol price will be decreased by Rs 1.46 per litre and diesel would become cheaper by Rs 1.53 per litre, excluding state levies.

With the government coming down hard on black money, analysts say the real estate sector will be among the worst hit given the high usage of cash.

Stocks of companies in the realty segment have been on a downward spiral since the demonetisation was announced. Banks, on the other hand, have been grappling with high stressed assets / non-performing loans. Will the demonetisation add to their woes?

US tech giant Google today confirmed it will expand its vast campus in central London, a move a source said is expected to bring 3,000 jobs to the British capital.

Google announced it would add a new office building to a complex currently under development behind London's King's Cross train station, which the tech firm said would be its first wholly owned and designed building outside the US.

With Rs 500 and Rs 1,000 notes getting demonetised, ICICI Bank has witnessed a significant rise in its debit and credit card usage.

Over the last 7 days, the bank saw a 100 per cent jump in usage of debit cards and over 40 per cent in credit cards, including at restaurants, departmental stores and for healthcare services.

State-run Hindustan Petroleum Corporation Ltd (HPCL) has posted a net profit of Rs 701.32 crore for the second quarter of the financial year ended on September 30, compared to a net loss of Rs 317.13 crore for the corresponding period of the previous financial year.

"The increase in profit is due to higher domestic market sales and reduced inventory loss compared to the corresponding period last year. Inventory loss came down to Rs 359 crore this quarter compared to Rs 1,406 crore during the second quarter of the previous fiscal," said M K Surana, chairman and managing director of HPCL.

New Delhi, Nov. 14 (PTI): The market regulator has stepped up scrutiny on developments in the escalating Tata-Mistry feud, keeping a close vigil on all disclosures being made as also the finer details of the board meetings of the listed companies of the Tata group.

The watchdog is seeking to prevent a violation of corporate governance norms and protect investors' interest, for which it has also received communications from various stakeholders, including foreign institutional investors.

Mumbai: Markets took another blow today as the Sensex plunged over 514 points to end at nearly 6-month low of 26,305 while the Nifty cracked below 8,200 mark on concerns about outflows amid surging US yields and the dollar gathering more steam. Currency market was hit hard, with the rupee down 57 paise to a five-month low of 67.82 against the US currency during the day.

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