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Sensex Finishes in Green; Coal India Closes up by 2.4%
Thu, 2 Feb Closing

Share markets in India recovered in the afternoon session to finish the trading day just above the dotted line amid mixed international markets. At the closing bell, the BSE Sensex stood higher by 85 points, while the NSE Nifty finished up by 18 points. The S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 0.9% respectively. Gains were largely seen in consumer durables and pharma sector.

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.31%, while the Nikkei 225 & the Hang Seng fell 1.22% and 0.57% respectively. European markets are lower today with shares in Germany off the most. The DAX is down 0.33% while London's FTSE 100 is off 0.05% and France's CAC 40 is lower by 0.04%.

The rupee was trading at Rs 67.45 against the US$ in the afternoon session. Oil prices were trading at US$ 52.93 at the time of writing.

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According to a leading financial daily, Coal India has reported provisional production of 55.99 million tones (MT) in January 2017, as against a target of 61.04 MT. The company's total off-take for the month of January stood at 51.35 MT, as against a target of 55.73 MT.

The company also has produced 433.7 MT of coal in the April-January period of the ongoing fiscal against the target of 478.5 MT. The government is aiming at one billion tonne coal production by Coal India and another 500 million tonne by the private sector players by 2022.

Coal India's coal production over the years.

Coal India is falling back on increasing allotments under the auction route as its sales and price realizations to Fuel Supply Agreement consumers is feeling the heat, owing to the low demand of the fossil fuel in the domestic market. While e-auction volumes for the company increased to touch 39.52 MT in the April-October period of the current financial year, the average price per tonne declined by 27%, at Rs 1,463 a tonne

It accounts for over 80% of the domestic coal output and has a production target of 598 million tonnes for the current fiscal.

In another development, Coal India is budgeting for an investment of Rs 80 billion next financial year according to the Union Budget tabled in Parliament. This is a mere 3% jump over the revised estimate of the current fiscal (2016-17). The ministry has also increased spending on conservation, safety and infrastructure development in coal mines for 2017-18 to Rs 5 billion from Rs 3.5 billion last year.

Coal India share price finished the trading day up by 2.4% on the BSE.

Moving on to news from stocks in automobile sector. Bajaj auto share price dipped 1.7% in today's trade after the company registered a fall of 18% in total sales to 241,917 units in January 2017 against 293,939 units in January 2016. The sales of the motorcycles decreased by 16% and stood at 211,824 units in the month under review against 252,988 units in January 2016.

The company has reported 27% fall in Commercial Vehicles sales, which stood at 30,093 units as compared to 40,951 units in month of January 2016. The company's total exports stood at 106,729 units as compared to 132,069 units sold in the corresponding month last year.

In another development, Hero Motocorp also reported 13.53% dip in its total sales in January at 487,088 units as against the total sales of 563,348 units in the year-ago period. The company stated that it sees a positive change in the market sentiment, which is reflected in the improved offtake, and the company expects industry sales to gradually return towards normalcy.

Hero Motocorp also expanded its global operations with the launch of brand Hero in Argentina last month. The company now has operations in 35 countries across Asia, Africa, South and Central America.

Hero Motocorp share price finished down by 1.7%.

Due to demonetisation, the sales in the third quarter for two wheelers saw a sharp decline. Motorcycles sales slowed to single digit. Now budget proposals to improve rural income and reduce tax burden of lower income groups may likely lead to a revival.

And here's a note from Profit Hunter:

Today we're looking at the charts of the stocks in the news, Hero Moto Corp and Bajaj Auto Ltd.

Over the years, these two-wheeler stocks have generated handsome returns for their investors. In fact they are said to be the most reputed two-wheeler companies in India. True to form, they are now also trading upwards.

But we still got to ask...are they really living up to their potential? Or is it only goodwill that is attracting the investors?

Comparing these two stocks with the Nifty Auto index can give us a fair idea.

From March 2012 both these stocks have generated returns of about 65%, but the Nifty Auto index has moved up by 140%. So, a bulk of the contribution to the Nifty Auto index came from other stocks like Maruti Suzuki, Tata Motors and Eicher Motors.

Comparing Bajaj Auto and Hero Moto with Nifty Auto Index
Comparing Bajaj Auto and Hero Moto with Nifty Auto Index  

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Jan 16, 2018 (Close)