Citi upgraded Larsen and Toubro from ‘neutral’ to ‘buy’ and said negative news flow are priced in and now shares of L&T are trading below than their historical mean.

The share price of the company fell 17.7 per cent in the past three months till October 1 against 6.42 per cent fall registered by Sensex during the same period.

Maruti Suzuki shares declined over 2 per cent in the morning trade on Monday after Jefferies downgraded the carmaker’s stocks to ‘underperform’ from ‘buy’. According to the global investment bank, Maruti’s strong outlook is in the price and its stock is trading at all-time high multiples.

At 11.41 am, Maruti Suzuki shares were trading 2.22 per cent down at Rs 4478 a piece. The scrip opened at Rs 4,572 and had touched a high and low of Rs 4,572 and Rs 4,475, respectively, in trade so far.

KOLKATA: Aashirvaad ghee will make its debut this Diwali as ITC enters the dairy market, extending the product range of its biggest non-cigarette brand. The company is looking to replicate the success it achieved in the unorganised and commoditised atta segment with the Aashirvaad brand, under which it also sells spices and other food products.

Tata Motors has rallied 8% to Rs 322 on the BSE and the NSE in early morning trades on reports that Peugeot in talks with the company to make cars in India. The stock recorded its sharpest intra-day gain in past two years.

Earlier, in September 10, 2013, it rallied 10.8% during intra-day trade after the company's unit Jaguar Land Rover (JLR) reported a strong sales numbers for the month of August. The stock had finally closed 9.9% higher on the BSE.

Bajaj Auto today reported 3.76% decline in total sales in September at 3,84,400 units as against 3,99,450 units in the same month last year.

Motorcycle sales during the month declined by 4.83% to 3,30,228 units as against 3,47,010 units in September last year, the company said in a BSE filing.

Global ratings agency Moodys has said the sharp cut in natural gas prices notified by the Indian government will not only impact state-run Oil and Natural as Corp (ONGC) but also discourage new exploration investments and fuel imports.

"The gas price reduction is credit negative for upstream producers ONGC and Oil India because it will lower their revenues and cash flows, which are already declining from low oil prices," an article by Moodys Credit Outlook said on Monday.

Nifty closed weekly in positive territory. It managed to hold lower end support levels as expected last week & sharply bounced back after RBI Policy. The correction turned out to be 3 waves declines. It made a low of 7691.20 levels on nifty & 25,287.33 levels on sensex. Broader market is out performing at current levels of market. Midcap, small cap & Bankex indices etc closed weekly in positive territory. It made a high of 26,430.62 levels on sensex & 8008.25 levels on nifty at the end of weekly trading session.

The September quarter is likely to be a reasonably good one for most Indian IT companies thanks to healthy demand trends and it being a seasonally favourable period.

Infosys, after a strong June quarter, is expected to outpace peers in the September quarter. Analysts on an average expect Infosys to post 6.2% sequential growth in its rupee revenues, whereas this number for TCS, Wipro and HCL Technologies’ is seen at 5.8%, 5.3% and 3.2%, respectively.

Ashok Leyland Limited has sold shares worth Rs 165.37 crore in lnduslnd Bank Limited. According to company's announcement Ashok Leyland sold 18 lakh shares of Rs 10 each held in IndusInd Bank Ltd in the open market during the period between September 25-29, 2015 at a net price of Rs 918.76 per share.

Ashok Leyland balance sheet shows as on March 31, 2015 the company held 50,63,923 shares in IndusInd Bank.

Natural gas prices were cut by a steep 18% to $3.82 per unit on Wednesday, the biggest ever reduction in rates so far. This reduction will dent government revenues by about Rs. 800 crore and hit profits of producers like Oil and Natural Gas Corp (ONGC).

Natural gas prices, as per the formula approved by the government in October last year, will fall to $3.82 per million British thermal unit (mmBtu) on gross calorific value (GCV) basis for six months, beginning October 1, from the current %4.66 per mmBtu, according to the Oil Ministry.

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