Market Watch

Tuesday 7 January 2014

Stock Market News Today



Asian shares stabilized on Tuesday after four straight days of losses, while the dollar rebounded from overnight weakness after disappointing U.S. services sector data raised concerns about stuttering growth in the world's largest economy.

Oil prices seesawed on Monday, ending the session slightly lower, as traders weighed reports of production resuming at a Libyan oilfield against new threats to shipments from a port controlled by protesters.

Ashok Leylan:

  • -Did not generate profits this year but have generated cash
  • Generated cash by exiting non-core assets
  • Generated cash by divesting and reducing working capital
  • Reduced working capital by Rs 900 crore in
  • Q3 -Working capital currently stands at Rs 600 crore
  • -Executive headcount cut by 450 in last 6 months
  • -Company's senior management took pay cut of 5 percent
  • -Looking at reducing debt by Rs 1,000 crore this year
  • Alert: Debt rose to Rs 6,600 crore in August this fiscal
  • -No plans of selling stake in 'Family Silver’
  •  -Expect to end the year with sales down by 25 percent


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