Indian Stock Markets were trading lower on Friday with BSE Sensex down by 25 points at 17536. US markets closed flat on Thursday and Asian Markets were lower on Friday.
Amit Kasat of Standard Chartered Securities has downgraded Tata Motors after the company declared lower than expected first quarter results. The company's JLR unit would face lower sales and this will have an impact on Tata Motor's profits in upcoming quarters. Amit Kasat has suggested investors to exit Tata Motors on every rally.
Investment Bank Credit Suisse has also downgraded Tata Motors from neutral to underperform. The stock was down by 2.3% on NSE at Rs 233. The stock touched intraday low of Rs 231.
In today's trading session, BPCL, Maruti Suzuki, Sterlite and TCS were among major gainers. Among major losers were Ranbaxy Labs, Tata Motors, Reliance Infra and Hero MotorCorp. HUL touched 52-week high of Rs 490 in today's trading session.
Ambuja Cements, Bajaj Corp, Bajaj Finance, Balrampur Chini, Deccan Cements, Elgi Equipments, HCL Tech, HUL, ITC, Mahindra Life, Mastek, RS Software, Relaxo Footwear, Strides Arcolab, UltraTech Cement and Wockhardt touched 52-week high in today's trading session.