Sensex, Nifty, Midcap Hold Morning Gains; Tata Motors Falls

Equity benchmarks as well as broader markets maintained morning gains, driven by banking & financials, FMCG and pharma stocks after Q3 GDP data surprised street. 

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The 30-share BSE Sensex gained 194.54 points at 28937.86 and the 50share NSE Nifty rose 51.75 points to 8931.35 while the Nifty Midcap and Smallcap indices were up around 0.6 percent. About 1593 shares advanced against 936 declining shares on the BSE.

India's real gross domestic product (GDP) beat consensus estimates, growing 7 percent YoY in Q3FY17 as private consumption grew at the fastest pace in 17 quarters. Tata Motors fell over a percent ahead of February sales data due later today. Maruti Suzuki was up 0.2 percent after sales in the month gone by grew 11 percent while Eicher Motors fell 0.6 percent as Royal Enfield sales missed analysts' expectations, growing 19 percent year-on-year. 

Index heavyweights HDFC, Infosys, ITC and ICICI Bank continued to support the market, up 1-2 percent. Gold fell today as the dollar strengthened on hawkish comments overnight from US Federal Reserve officials, while an eagerly awaited speech by US President Donald Trump contained few specifics or surprises.

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Sensex, Nifty may stay flat; Idea, Tata Steel in focus

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Tata Steel: Tata Steel UK has signed a letter of intent with Liberty House to sell its UK speciality steel business, the company said in a statement on Monday. The deal, which also covers several South-Yorkshire based assets, is being pegged at an enterprise value of £100 million.

Sun Pharma: Sun Pharma launched BromSite solution, marked for treatment of postoperative inflammation and prevention of ocular pain in patients undergoing cataract surgery, in the US market.

Oil India: The company has posted a net profit of Rs 580 crore for the quarter ended September 30, 2016 as compared to Rs 706 crore for the quarter ended September 30, 2015.

Mahanagar Gas: Mahanagar Gas registered a net profit of Rs 102.24 crore, up 41%, against Rs 72.57 crore in the corresponding quarter last year.

JSW Steel: JSW Steel has joined one of two investor groups vying to take over Italy's loss-making Ilva steel plant, as per media report.

Greaves Cotton Q2 FY17 at Rs 51 crore

Greaves Cotton Limited, one of India’s leading engineering companies, has, despite tough market conditions, reported revenues of Rs 489 crore for the quarter ended September 30, 2016 as against Rs 473 crore for the quarter ended September 30, 2015. 

EBITDA for the quarter ended September 30, 2016 is Rs 70 crore as against Rs 76 crore for the same period last year, recording a EBITDA margin of 14.3% during the current quarter.  

8K Miles Q2 FY17 Revenue up 18% qoq

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The Profit After Tax (PAT) for the quarter ended September 30, 2016 is Rs 51 crore as against Rs 55 crore for the corresponding period last year. During the quarter, the company had taken a few initiatives that would help it prepare for the future which resulted in higher Operating Expenses and a consequent reduction in profits. The financial results of the company have been prepared in accordance with IndAS that came into effect from April 1, 2016.  

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Commenting on the results, Mr. Nagesh Basavanhalli, MD & CEO said “Despite a challenging market environment, the company with its sustained focus on various lines of business has recorded QOQ revenue growth of 9.88% in the quarter ended September 30, 2016 over Q1 FY 2017 and a 3.3% growth over the corresponding period last year. This has been possible due to strategic initiatives on launching new range of solutions, enhancing service quality and entering new geographies. Contributing to the higher revenue is robust growth in the Farm Equipment Business and the Auxiliary Power business.”  

Commenting on the company’s profitability, Mr. Basavanhalli said, “We continue our value engineering efforts that have delivered a healthy EBIDTA margin of 14.3% - a bump up from the 13.6% of Q1 FY2107. Our efforts on cost controls are sustainable & will continue to improve.”

Live Stock Market Updates - Sensex slips over 150 points

The Indian stock market fluctuated between gains and losses as a selloff in drug makers was countered by rally in FMCG companies. The domestic market has opened in green. 

Sensex Slips Over 150 points

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At 12:41 PM, the S&P BSE Sensex is trading at 27,349 down 80 points, while NSE Nifty is trading at 8,486 up mere two points.  

The BSE Mid-cap Index is trading down 0.85% at 12,903 whereas BSE Small-cap Index is trading down 1.75% at 12,937.  

ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank are among the gainers, whereas Sun Pharmaceuticals, Dr Reddy's, Lupin, L&T and Maruti Suzuki are losing sheen on NSE.  

Some buying activity is seen in FMCG, private banking, media and metal sectors, while pharma, auto, banking, IT and realty sectors are showing weakness on NSE.  

The INDIA VIX is 2.90% at 16.9425. Out of 1,897 stocks traded on the NSE, 1,387 declined, 663 advanced and 397 remained unchanged today.  

A total of 25 stocks registered a fresh 52-week high in trade today, while 30 stocks touched a new 52-week low on the NSE.  

Shares of the FMCG stocks rallied after the GST council decided on a four tier tax rate structure. The tax rate slabs have been fixed at 5%, 12%, 18% and 28%, Finance Minister Arun Jaitley said in a press conference in New Delhi. ITC Ltd is currently trading at Rs 250.85, up by Rs 10.5 or 4.37% from its previous closing of Rs 240.35 on the BSE.

Stock Market Cement Update By CapitalHeight

इंफ्रा प्रोजेक्ट्स में तेजी से सुधरेगी सीमेंट सेक्टर की सेहत

बजट में इंफ्रा और रोड सेक्टर पर खर्च बढ़ाने के प्रस्ताव से सीमेंट सेक्टर की उम्मीदें बढ़ी हैं। पिछले 3 साल से सुस्ती का सामना कर रहे सेक्टर को उम्मीद है कि नए प्रोजेक्ट्स से न केवल मांग बढ़ेगी साथ ही ग्रामीण इलाकों में आय बढ़ने से भी सेक्टर को सहारा मिलने की उम्मीद है।

रोड सेक्टर पर खर्च बढ़ने से उम्मीदें

रोड निर्माण की नई तकनीक में कंक्रीट के इस्तेमाल पर जोर सीमेंट सेक्टर के लिए बड़ा गेमचेंजर साबित हो सकता है। मोतीलाल ओसवाल द्वारा जारी रिपोर्ट के मुताबिक एनएचएआई द्वारा जारी करीब 75 फीसदी रोड प्रोजेक्ट कंक्रीट बेस्ड थे। वही पहले से रुके हुए 4000 किलो मीटर लंबी रोड के प्रोजेक्ट भी कंक्रीट बेस्ड होने की उम्मीद है। कंक्रीट से  बनी रोड पर शुरुआती खर्च ज्यादा होता है लेकिन इनके रखरखाव पर खर्च कम होता है वहीं ये ज्यादा समय तक चलती हैं। कंक्रीड बेस्ड रोड की इन्ही खासियत की वजह से उम्मीद है कि रोड प्रोजेक्ट के बड़े हिस्से से सीमेंट कंपनियों को फायदा मिलेगा।

ग्रामीण सेक्टर में खर्च बढ़ने से मिलेगा सहारा

बजट में ग्रामीण इलाको में खर्च बढ़ने के प्रस्ताव से भी सीमेंट कंपनियों को सहारा मिला है। कैबिनेट ने रूरल हाउसिंग स्कीम को मंजूरी दे दी है। इसमें 2016-17 से से 2018-19 के बीच 82 हजार करोड़ रुपए ग्रामीण इलाकों में घर बनाने पर खर्च किए जाने की योजना है। इसके साथ ही पे कमीशन की वजह से हाउसिंग डिमांड बढ़ने की उम्मीद है, जिसका सीमेंट सेक्टर को फायदा मिल सकता है। बोनांजा पोर्टफोलियो को एवीपी रिसर्च पुनीत किनरा के मुताबिक इंफ्रा और रुरल सेक्टर को लेकर बजट प्रस्तावों से  से उम्मीद है कि सीमेंट सेक्टर की कंपनियों को आगे फायदा होगा जिससे इनके शेयरो में आगे ग्रोथ देखने को मिल सकती है।

जून के बाद से सुधरेगी सीमेंट कंपनियों की सेहत

रेलीगेयर कैपिटल मार्केट्स ने अनुमान दिया है कि लार्ज कैप कंपनियों की आय पर दबाव जल्द खत्म हो सकता है। कस्ट्रक्शन एक्विटी में तेजी और बेहतर कीमतों की मदद से कंपनियों की आय में बढ़त देखने को मिल सकती है। वहीं, रिलायंस सिक्युरिटीज ने अनुमान दिया है कि मांग बढ़ने के साथ कीमतों में खासतौर पर उत्तर भारत में बढ़त देखने को मिल सकती है। ब्रोकिंग फर्म के मुताबिक उत्तर भारत में पिछले 2 तीन साल में उत्पादन क्षमता में कोई खास बढ़त देखने को नहीं मिली है।  

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Market News:-

• The market erased more than half of gains due to selling in oil, banks and select FMCG stocks. The Sensex rose 37.29 points to 25306.93 and the Nifty advanced 17.45 points to 7730.50.
• The broader markets also lost some shine, rising 0.3 percent each but the market breadth remained positive. About 1325 shares advanced against 750 declining shares on BSE.
• Shares of Adani Enterprises today surged nearly 8 percent after the company's USD 21.7 billion coal mine project in Australia won three mining leases. Adani's 21.7 billion dollars coal mine project in Australia yesterday won three mining leases but the Indian mining giant said a final decision on investment will be taken only after the resolution of "politically-motivated" legal challenges against its plans to build one of the world's largest coal mines. Queensland minister for Natural Resources and Mines Anthony Lynham approved the individual lease grant for 70441 Carmichael, 70505 Carmichael East and 70506 Carmichael North, which are estimated to contain 11 billion tonnes of thermal coal.
• Infibeam Incorporation shares started off day with gain of 5.8 percent on debut Monday. The stock listed at Rs 457 on National Stock Exchange against issue price of Rs 432.

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Market Outlook:-

Indian shares are expected to start marginally higher, as a strong US jobs data on Friday lifted Asian equities today, offsetting weakness in oil prices.
         At the time of writing, the SGX Nifty was trading 0.24 percent, or 19 points, higher to 7,764.
          Global cues are expected to remain firm after data showed the US added 2.15 lakh jobs, against an expected 2.05 lakh in March. Gold fell following the data release, amid expectations it could advance a Federal Reserve rate hike.
       Locally, many traders may stay on sidelines ahead of tomorrow's monetary policy meeting where the Reserve Bank is widely expected to cut interest rates by 25 basis points.
          In stocks in news, HCL may witness action after it said it would acquire smaller peer Geometric in an all-stock deal.
          Auto companies may also be in focus after they declared their monthly auto sales numbers while tobacco shares may be in focus after cigarette makers shut down factories to protest against warning rules.