Reliance Communications plunged 8 percent. Reliance Capital, Reliance Naval and Reliance Infrastructure fall 1 percent each.
TVS Motor Company has confirmed the launch of its most powerful motorcycle scheduled for December 6 in Chennai. Powered by a 310cc engine the Apache RR 310 (codenamed Akula) will finally make its debut after a delay of more than a year.
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Developed alongside partner BMW the Apache 310RR will catapult the Chennai-headquartered company into the league of performance motorcycle segment presently dominated by Japanese brands.
The Apache RR 310 will have more than half a dozen competitors, all falling in the 300-400cc engine range having to price between Rs 1.44 lakh-3.5 lakh. The market is expecting TVS to price its new bike between Rs 1.5-1.6 lakh (ex-showroom, Delhi).
Ambit AMC said on trailing basis, market valuations are at a historic high. “In terms of earnings growth, we are near the bottom. We have seen the worst.”
The market might see few months of consolidation before moving upward.
Activity in China’s manufacturing sector likely grew at a slightly slower pace in November, as export orders softened and tough pollution measures forced many northern steel mills and factories to curb production.
But expansion is forecast to have remained solid amid still-strong demand for steel and other construction materials, and as mills in southern provinces with less stringent smog restrictions cranked up production to gain market share.
China’s war on air pollution is clouding the outlook for the world’s second-largest economy at the same time that global markets are fretting over Beijing’s campaign to curb excesses in the financial sector and a rapid build-up in debt.
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