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M&M drops after reporting weak auto sales in January
Feb 02,2017

The announcement was made after market hours yesterday, 1 February 2017.

Meanwhile, the S&P BSE Sensex was up 22.01 points or 0.05% at 28,155.88.

On the BSE, 32,347 shares were traded on the counter so far as against the average daily volumes of 92,429 shares in the past one quarter. The stock had hit a high of Rs 1,297.90 and a low of Rs 1,264 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had outperformed the market over the past one month till 1 February 2017, rising 9.49% compared with the Sensexs 5.69% gains. The scrip had, however, underperformed the market over the past one quarter declining 1.94% as against the Sensexs 0.95% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M)s total tractor sales rose 6% to 15,909 units in January 2017 over January 2016. M&Ms domestic sales rose 3% to 14,776 units in January 2017 over January 2016. Exports jumped 71% to 1,133 units January 2017 over January 2016.

M&Ms total auto sales fell 10% to 39,303 units in January 2017 over January 2016. Domestic sales declined 9% to 37,042 units in January 2017 over January 2016. Exports dropped 27% to 2,261 units January 2017 over January 2016.

Separately, M&M said before market hours today, 2 February 2017, that Mahindra Overseas Investment Company (Mauritius), (MOICML) a wholly owned subsidiary of the company has agreed to acquire upto 60% of the stake of OFD Holding BV, a fruit distribution company based in Netherlands.

Consolidated revenue of OFD Holding BV in financial year ended October 2016 was Euro 71 million. The objective of acquisition is for strategic fit and operational synergies. The indicative period of completion of acquisition is by February 2017. The acquisition would be for a consideration not exceeding Euro 5 million or Rs 36 crore. OFD will become subsidiary of MOICML and that of company.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Tata Motors slides after weak sales in January
Feb 02,2017

The announcement was made after market hours yesterday, 1 February 2017.

Meanwhile, the S&P BSE Sensex was up 50.41 points or 0.18% at 28,192.05.

On the BSE, 95,000 shares were traded on the counter so far as against the average daily volumes of 5.25 lakh shares in the past one quarter. The stock had hit a high of Rs 541.90 and a low of Rs 530.20 so far during the day.

The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past one month till 1 February 2017, advancing 14.93% compared with the Sensexs 5.69% rise. The scrip had also outperformed the market over the past one quarter, gaining 2.02% as against the Sensexs 0.95% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Tata Motors domestic sales of Tata commercial and passenger vehicles registered flat growth at 41,428 units in January 2017 over January 2016.

Tata Motors passenger vehicles, in the domestic market, recorded 21% rise in sales at 12,907 units in January 2017 over January 2016, due to continued strong demand for the Tata Tiago. The company has also received an encouraging response to its recently launched lifestyle UV, Tata Hexa. The overall commercial vehicles sales in January 2017, in the domestic market were at 28,521 units, lower by 7% over January 2016.

The construct segment continued to grow strongly by 26.5% year-on-year (yoy), as road construction continues to drive demand, along with coal & iron ore mining also gaining momentum. IM&HCV Bus sales grew by 12%. The medium & heavy commercial vehicles (M&HCV) segment is witnessing a surge in enquiry levels, after a weak Q3. The companys sales from exports was fell 13% at 4,921 units in January 2017 over January 2016.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Net sales rose 6.7% to Rs 65140.75 crore in Q2 September 2016 over Q2 September 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Hero MotoCorp declines after reporting drop in sales in January
Feb 02,2017

The announcement was made after market hours yesterday, 1 February 2017.

Meanwhile, the BSE Sensex was down 13.47 points, or 0.05% to 28,128.17.

On the BSE, so far 4,059 shares were traded in the counter, compared with average daily volumes of 47,000 shares in the past two weeks. The stock had hit a high of Rs 3,291.55 and a low of Rs 3,236.55 so far during the day.

Hero MotoCorp said that sales for the month of January 2017, showed substantial improvement from the December 2016 sales. There is a positive change in the market sentiments, which is reflected in the improved offtake, and the company expects industry sales to gradually return towards normalcy.

The companys sales had fallen 33.91% to 3.3 lakh units in December 2016 over December 2015.

Net profit of Hero MotoCorp rose 27.7% to Rs 1004.22 crore on 14.2% rise in net sales to Rs 7669.53 crore in Q2 September 2016 over Q2 September 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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Hotel stocks gain as FM proposes special tourism zones
Feb 01,2017

CHL (up 4.8%), Jindal Hotels (up 0.99%), Indian Hotels Company (up 2.64%), Viceroy Hotels (up 2.33%), Taj GVK Hotels (up 1.8%), EIH (up 1.87%), Oriental Hotels (up 2.88%) gained. Hotel Leela Venture was unchanged at Rs 16.65. Royal Orchid Hotel (down 1.6%) and EIH Associated Hotels (down 1.29%) declined.

Meanwhile, the S&P BSE Sensex was up 485.68 points, or 1.76%, to 28,141.64

The Finance Minister proposed special purpose vehicle (SPV) with funding from both the government and the private sector to trigger investment into the special tourism zones (STZs).

Saying that tourism sector is a major employment generator with multiplier effect, the Finance Minister also mentioned that next level of Incredible India brand marketing campaign, Incredible India 2.0, will be unleashed in the international market.

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Eicher Motors moves higher after strong Q3 earnings
Feb 01,2017

The result was announced during market hours today, 1 February 2017.

Meanwhile, the S&P BSE Sensex was up 479.55 points or 1.73% at 28,135.51.

On the BSE, 7,505 shares were traded on the counter so far as against the average daily volumes of 4,179 shares in the past two weeks. The stock had hit a high of Rs 24,081 and a low of Rs 23,088.80 so far during the day.

The companys consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) surged 61.3% to Rs 577 crore in Q3 December 2016 over Q3 December 2015. EBITDA margin expanded to 31.4% in Q3 December 2016, from 27.9% in Q3 December 2015.

Commenting on the companys performance, Siddhartha Lal, Managing Director & CEO, Eicher Motors said, the company posted its highest ever quarterly income from operations and EBITDA margin. Despite demonetisation, Royal Enfield has maintained its strong volume growth in Q3 December 2016, Lal said. The companys order book continues to be strong, he added.

Commenting on VE Commercial Vehicles (VECV) performance, Siddhartha said that during the months of November and December 2016, the commercial vehicle (CV) industry was severely impacted due to demonetisation. As a result, VECV performance was adversely affected in Q3 December 2016 with a drop of 9.3% in domestic sales compared to corresponding period last year. VECV outperformed the industry on year to date basis by registering a growth of 12.2% over same period last year while domestic CV industry degrew by 0.6% during the same period. The market conditions appear to be improving after sharp fall in sales immediately after demonetisation, he said. VECV continues to make significant efforts towards cost reduction to deal with pressure on margins, given the dynamics of the commercial vehicle industry, he added.

Eicher Motors 50:50 joint venture with Polaris Industries, Eicher Polaris, through its product Multix is continuing to expand its distribution footprint and launched BS-IV variant in December 2016, he further added.

Separately, Eicher Motors during market hours today, 1 Febraury 2017, said its total motorcycles sales rose 25% to 59,676 units in January 2017 over January 2016. Eicher Motors unlisted subsidiary VECVs total sales of trucks and buses rose 19.82% to 4,515 units in January 2017 over January 2016.

Eicher Motors (EML) owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles (VECV) designs, manufactures and markets reliable, fuel-efficient trucks and buses.

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Centrum Capital gains as subsidiary approves stake-sale in CentrumDirect
Feb 01,2017

The announcement was made before market hours today, 1 February 2017.

Meanwhile, the S&P BSE Sensex was up 381.16 points, or 1.38%, to 28,039.43

On the BSE, 23.64 lakh shares were traded on the counter so far as against the average daily volumes of 7.17 lakh shares in the past one quarter. The stock hit a high of Rs 37.25 and low of Rs 35 so far during the day. The stock hit a 52-week high of Rs 39.20 on 17 January 2017. The stock hit a 52-week low of Rs 9.75 on 5 April 2016.

The small-cap financial services firm has an equity capital of Rs 41.60 crore. Face value per share is Re 1.

Centrum Capital said that the board of the companys subsidiary, Centrum Retail Services has approved sale of a minority stake in its wholly owned subsidiary company, i.e. CentrumDirect, to NYLIM Jacob Ballas India Holdings IV and Jacob Ballas Capital India, subject to obtaining all government/ regulatory approvals including approval from the Competition Commission of India (CCI).

Centrum Capitals net profit rose 34% to Rs 3.35 crore on 31.54% growth in total income to Rs 25.36 crore in Q2 September 2016 over Q2 September 2015.

Centrum Capital is a Sebi registered category I merchant banker. It has expertise across equity & debt spectrum with capabilities in equity capital markets, M&A advisory, corporate finance & advisory, primary & secondary debt placement, project finance and corporate debt restructuring. Its retail arm provides integrated solutions for private wealth management, portfolio management, stock broking and foreign exchange.

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Housing finance stocks race ahead on impetus to affordable housing
Feb 01,2017

Gruh Finance (up 3.38%), HDFC (up 3.34%), Can Fin Homes (up 2.57%), Dewan Housing Finance (up 2.44%), LIC Housing Finance (up 1.71%) and Indiabulls Housing Finance (up 1.28%) edged higher.

Meanwhile, the S&P BSE Sensex was up 377.44 points or 1.36% at 28,033.40.

The finance minister proposed to facilitate higher investment in affordable housing. Jaitley brought affordable housing under infrastructure sector, extending benefits to the people investing in building low-cost homes.

In his budget proposals last year, Jaitely had announced a scheme for profit-linked income tax exemption for promoters of affordable housing scheme which has received a very good response. However, in order to make this scheme more attractive, he proposed certain changes in the scheme. First of all, instead of built up area of 30 and 60 sq.mtr., the carpet area of 30 and 60 sq.mtr will be counted. Also the 30 sq.mtr limit will apply only in case of municipal limits of 4 metropolitan cities while for the rest of the country including in the peripheral areas of metros, limit of 60 sq.mtr will apply. In order to be eligible, the scheme was to be completed in 3 years after commencement. Jaitey now proposed to extend this period to 5 years.

At present, the houses which are unoccupied after getting completion certificates are subjected to tax on notional rental income. For builders for whom constructed buildings are stock-in-trade, Jaitley proposed to apply this rule only after one year of the end of the year in which completion certificate is received so that they get some breathing time for liquidating their inventory.

Housing finance companies have been under severe stress in line with many other sectors post the governments surprise announcement of banning higher denomination bank notes.

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Fertilizer stocks gain on FMs impetus to agri sector in Budget 2017-18
Feb 01,2017

National Fertilizers (up 5.72%), Coromandel International (up 4.19%), Deepak Fertilisers & Petrochemicals Corporation (up 4.07%), Fertilizers & Chemicals Travancore (up 3.85%), Gujarat Narmada Valley Fertilizers & Chemicals (up 1.34%) and Gujarat State Fertlizers & Chemicals (up 0.74%) edged higher. Chambal Fertilisers & Chemicals (down 3.22%) and Rashtriya Chemicals & Fertilizers (down 0.09%) edged lower.

Meanwhile, the S&P BSE Sensex was up 415.36 points or 1.5% at 28,071.32.

Among a slew of measures, the Finance Minister raised agriculture credit to farmers to a record Rs 10 lakh crore for FY 2018. This is against the governments agriculture credit target of Rs 9 lakh crore for the ongoing financial year (FY 2017). The finance minister said that the agriculture sector will grow at 4.1% in FY 2017, adding that the total area sown under Rabi and Kharif season is more than last year.

Jaitley said that the coverage under Pradhan Mantri Fasal Bima Yojana will be increased from 30% to 40% in 2017-18 and 50% in 2018-19.

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Petronet LNG gains on favorable announcement in Union Budget 2017-18
Feb 01,2017

Meanwhile, the S&P BSE Sensex was up 281.87 points or 1.02% at 27,937.83

On the BSE, 2.57 lakh shares were traded on the counter so far as against the average daily volumes of 1.39 lakh shares in the past two weeks. The stock had hit a high of Rs 390.80 and a low of Rs 371.10 so far during the day.

Petronet LNGs net profit rose 81.7% to Rs 459.56 crore on 12.6% decline in net sales to Rs 6338.51 crore in Q2 September 2016 over Q2 September 2015.

Petronet LNG was formed as a joint venture by the Government of India to import liquified natural gas (LNG) and set up LNG terminals in the country.

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Rail stocks edge lower after small increase in railway budgetary allocation for FY 2018
Feb 01,2017

Titagarh Wagons (down 5.69%), Kalindee Rail Nirman (Engineers) (down 3.99%), Kernex Microsystems (India) (down 3.63%), Texmaco Rail Engineering (down 3.23%), Hind Rectifiers (down 2.87%) and Container Corporation of India (down 1.02%) edged lower. Stone India (up 4.26%), BEML (up 1.59%) and Nelco (up 0.12%) edged higher.

Meanwhile, the S&P BSE Sensex was up 158.55 points or 0.57% at 27,814.51.

Jaitley in his Budget speech today, 1 February 2017, proposed a 8.3% higher budgetary allocation for the sector at Rs 1.31 lakh crore, which included a Budget support of Rs 55000 crore for FY 2018. In Budget 2016-17, allocation to Railways was increased to Rs 1.21 lakh crore, which included Rs 45000 crore as gross budgetary support and safety fund.

The service charge on booking of railway tickets through IRCTC to be withdrawn, the FM said. The FM said that while the Rail Budget is merged, the autonomy of the Railways will stay intact.

This was the first time in 92 years that the Rail Budget was merged with the Union Budget and was announced on the Budget Day, breaking from the tradition of presenting it two days ahead of the Union Budget.

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Road construction stocks gain
Feb 01,2017

IRB Infrastructure Developers (up 2.03%), MEP Infrastructure Developers (up 2.83%), PNC Infratech (up 0.13%), Ashoka Buildcon (up 4.59%), IL&FS Transportation Networks (up 1.32%) and L&T (up 0.62%) gained

Meanwhile, the S&P BSE Sensex was down 11.91 points or 0.04% at 27,644.05

In order to give a boost to the economy, finance minister Arun Jaitley announced an allocation of Rs 3,96,135 crore for the infrastructure sector while presenting Union Budget 2017-18 in the parliament today, 1 February 2017. In the governments constant attempts to improve the countrys infrastructure, it has allocated a total of Rs 91,000 crore for roads and highways sector for fiscal year 2017-18, Finance Minister Arun Jaitley said in his Union Budget speech.

Budget 2017-18 provides for an outlay of Rs 64,000 crore for roads and highways, which will be allotted to National Highways Authority of India (NHAI). Pace of construction of roads has increased to Rs 133 km per day in 2017 from 73 km per day earlier, said Jaitley.

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PSU bank stocks gain after capital infusion announcement by FM
Feb 01,2017

State Bank of India (up 1.48%), Bank of Baroda (up 1.27%), Union Bank of India (up 1.08%), Punjab National Bank (up 1.07%), Bank of India (up 0.59%), Indian Bank (up 0.57%) and IDBI Bank (up 0.19%) edged higher. UCO Bank (down 1.16%) and Syndicate Bank (down 0.6%) edged lower.

Meanwhile, the S&P BSE Sensex was up 6.16 points or 0.02% at 27,662.12.

Jaitley in his Budget speech today, 1 February 2017, announced an allocation of Rs 10000 crore for recapitalisation of public sector banks (PSU banks) for FY 2018. Under the Indradhanush framework, to recapitalise the PSU banks, the government had proposed to allocate Rs 70000 crore to PSU banks from FY 2016 to FY 2019. It had allocated Rs 25000 crore in each of the FY 2016 and FY 2017.

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Pharma stocks drop on concerns of lower prices for generic products
Feb 01,2017

Aurobindo Pharma (down 2.9%), Dr Reddys Laboratories (down 2.44%), Lupin (down 2.2%), Wockhardt (down 1.75%), Sun Pharmaceutical Industries (down 1.36%), Divis Laboratories (down 1.16%), Strides Shasun (down 0.93%), Cipla (down 0.91%), Glenmark Pharmaceuticals (down 0.82%), Ipca Laboratories (down 0.58%), Alkem Laboratories (down 0.53%) and GlaxoSmithkline Pharmaceuticals (down 0.01%) edged lower.

Meanwhile, the S&P BSE Sensex was down 8.47 points or 0.03% at 27,647.49.

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Dairy stocks gain as FM announces fund to be setup under NABARD
Feb 01,2017

Meanwhile, the S&P BSE Sensex was up 14.62 points or 0.05% at 27,670.58

Modern Dairies (up 5.46%), Umang Dairies (up 3%), Prabhat Dairy (up 2.33%), Heritage Foods (up 1.68%), Hatsun Agro Products (up 0.56%) and Kwality (up 0.22%) gained.

While presenting Union Budget 2017-18 in the parliament today, 1 February 2017, finance minister Arun Jaitley said that a dairy processing infrastructure fund will be set up under NABARD, with fund of Rs 8000 crore.

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Realty stocks nudge higher as FM says affordable housing to get infrastructure status
Feb 01,2017

Unitech (up 3.31%), Prestige Estates Projects (up 2.58%), Oberoi Realty (up 2.49%), Godrej Properties (up 1.9%), D B Realty (up 1.63%), DLF (up 1.48%), Indiabulls Real Estate (up 1.39%), Sobha (up 0.98%) and Housing Development and Infrastructure (up 1.04%) gained.

Meanwhile, the S&P BSE Sensex was up 19.64 points or 0.07% at 27,675.60.

Jaitley in his Budget speech today, 1 February 2017, said that affordable housing to be given infrastructure status. The National Housing Finance will insure houses, Jaitley said. The real estate sector was among the most hit sectors due to the recent governments demonetisation drive banning higher denomination bank notes.

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