Sensex Ends Day in Red, Tata Motors in Focus, and Top Stocks in Action

Mon, 11 Feb Pre-Open

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On Monday, share markets in India opened on a negative note and ended the day in green after an volatile day of trading.

The BSE Sensex closed lower by 425 points to end the day at 36,547. While the broader NSE Nifty ended down by 126 points, to end the day at 10,944 points.

Among BSE sectoral indices, auto stocks fell the most by 3.4%, followed by metal stocks at 3.3%. Tata Motors and Vedanta were among the top losers.

Top Stocks in Action Today

Tata Motors share price will be in focus after the company declared the biggest ever quarterly loss by an Indian company at Rs 269.6 billion for the third quarter ended December 31, hit by asset impairment in its British arm Jaguar Land Rover (JLR).

The auto major said profit was impacted by an exceptional item of asset impairment in its British arm Jaguar Land Rover (JLR) of Rs 278.4 billion (3.1 billion pounds).

Total revenue from operations, however, rose 4.4% to Rs 775.8 billion as compared to Rs 743.4 billion in the year-ago period.

Cadila Healthcare share price is likely to be in focus today as the company received the final approval from the United States Food and Drug Administration (USFDA) to market Carbamazepine Extended-Release Tablets in various strengths.

Reportedly, it will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad in the state of Gujarat.

This medication is used to treat certain types of seizures (partial, generalized tonic-clonic, mixed) and certain types of nerve pain (trigeminal and glossopharyngeal neuralgia).

Automobile Sales Under Pressure

Passenger vehicle sales continued to remain under pressure in the new year with wholesale volumes falling 1.9% to 280125 units in January.

As per data with industry body Society of Indian Automobile Manufacturers (SIAM), sales of passenger vehicles stood at 285467 units in the year-ago period.

Sales of commercial vehicles increased marginally by 2.2% to 87591 units.

Three-wheeler sales fell 13.6% to 54043 units in the period under review.

Increase in ownership costs also hurt demand for two-wheelers which declined 5.2% to 1.5 million units in January. While sales of motorcycles dropped 2.6% to 1.02 million units, those of scooters slid 10.2% to 497,169 units.

Overall, sales of vehicles across categories declined 4.7% to 2.02 million units.

Speaking of automobiles sector, all the components of BSE Auto index have fallen. Tata Motors have crashed over 60% and Motherson Sumi Systems have plunged over 40% in past one year. While, Bharat Forge, Ashok Leyland and Maruti Suzuki fell over 30% during the same period.

But, one thing we must keep in mind is that not all auto companies will make money over time. And also, you shouldn't stay away from auto stocks altogether.

Even Tanushree Banerjee, Co-head of research at Equitymaster believes that there are businesses in this sector that you cannot ignore. She is particularly talking about the blue-chip auto stocks.

Here's Tanushree:

• One out of every three household in India is a buyer of their products. They own some of the cult brands in Indian automobile space. They have formidable R&D teams. They have been through several economic cycles over decades. Few have even visited near-bankruptcy in the past and come out successful.
  
  Yet, some of the biggest passenger car, commercial vehicle, and two-wheeler companies in India have seen a huge dent in valuations in recent times.
  
  This could be the opportunity long term investors were waiting for.

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