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Sensex Trades on a Volatile Note; Yes Bank Slips 6%

Tue, 14 Jan 12:30 pm

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Share markets in India are presently trading on a volatile note. Benchmark indices gained in early trade today to hit record highs but struggled to extend gains after data showed retail inflation surged sharply in December.

India's retail inflation shot to a five-and-a-half-year high of 7.35% in December, breaching the RBI's tolerance limit of 6%.

Sectoral indices are trading on a mixed note with stocks in the auto sector and FMCG sector witnessing buying interest, while energy stocks and banking stocks are witnessing selling pressure.

The BSE Sensex is trading up by 17 points, while the NSE Nifty is trading up by 11 points. The BSE Mid Cap index is trading up by 0.8%, while the BSE Small Cap index is trading up by 0.7%.

The rupee is trading at Rs 70.91 against the US$.

In news from the pharma sector, Procter & Gamble Health has entered into a partnership with the Public Health Foundation of India (PHFI) to implement a digital health project in the state of Goa under its corporate social responsibility (CSR) program 'SEHAT'.

Meanwhile, the US health regulator has cautioned that Lupin's Tarapur manufacturing facility may be subject to regulatory actions.

In a BSE filing, Lupin said that "the company has received a communication from the USFDA classifying the inspection conducted at its Tarapur manufacturing (API) facility between September 16 to September 20, 2019 as Official Action Indicated (OAI)."

According to FDA's definitions, OAI means "objectionable conditions were found and regulatory administrative sanctions by FDA are indicated" during inspections.

The inspection at the Tarapur facility had closed with three observations.

The company, however, said that it does not believe this inspection classification will have an impact on disruption of supplies or the existing revenues from operations of this facility.

Procter & Gamble Health share price and Lupin share price are presently trading up by 0.2% and 1.1%, respectively.

Speaking of the pharma sector, in the video below, Tanushree talks in great detail about the pharma sector.

She tells us where the sector stands now and also about the potential for a rebound.

Tune in to find out more...

Moving on, IRCTC share price is witnessing buying interest today.

The Ministry of Railways has given its approval to Indian Railway Catering and Tourism Corporation (IRCTC) to operate Ahmedabad-Mumbai Central Tejas Express for six days a week.

Shares of the company surged over 4% today on back of the above news.

This train will have its inaugural run on 17 January 2020 and will start its commercial run from 19 January 2020.

The new Tejas Express train, that will run between Mumbai and Ahmedabad, will be the second private train to be operated by the IRCTC.

In other news, media reports state that IRCTC may soon be replaced as caterers to the Parliament canteen.

Private brands like Bikanerwala and Haldiram, in addition to the government-run ITDC, are among the key contenders considered to replace IRCTC.

The reports added that IRCTC has faced growing concerns over the quality of its fare served in Parliament and subsidies offered, triggering a demand for fresh caterers for the complex.

Speaking of Indian Railways, note that while addressing the media on Sunday, Union Railway Minister Piyush Goyal stressed the need for support of the private sector to accelerate development of the railways.

He said the railways wants to attract an investment of Rs 50 lakh crore in next 12 years to expand the facilities in passenger and goods trains through modernization.

Goyal said that due to inadequate investments in railways in the past, the government machinery faced the burden. He also added that the demand of ticket-seekers in some trains was more than 150%.

The railways' experimentation with private participation in running of trains started last year when it allowed its subsidiary - the IRCTC to run the Tejas Express on the Lucknow-Delhi route.

According to the news reports, the train posted a profit of Rs 7 million in its first month of operation and had run with an average occupancy of 80-85% since it began operations on October 5.

We think the above development is a step in the right direction.

Here's what Tanushree Banerjee wrote about this in one of the recent editions of The 5 Minute WrapUp...

• Investment in Indian railways has always been lacking in the past. This has meant a stretched infrastructure with more than 60% of routes being over utilised.
  
  The poor image of Indian railways meant a price hike was never an option for the government.
  
  All this has changed in the recent years.
  
  Since 2014, investment in the Indian railways has increased at a rapid pace.

This is evident in the chart below...

Massive Reforms Underway in the Indian Railways

The government's aim to modernize more than 100 stations to world class standards and by provide amenities like wi-fi, quality food and beverage services will improve passenger experience.

Improved services will also help the government justify fare increases in the future.

Tanushree believes such reforms are the need of the hour for the Indian economy.

In one of her recent articles, she wrote about a safe stock for the next decade.

It's the StockSelect recommendation for this month and Tanushree believes it can be one of the best performers in the next decade.

If you've subscribed to StockSelect, here's the link to the report.

If you're aren't a member, sign up for StockSelect here.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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