Sensex Ends Day in Red, Yes Bank in Focus, and Top Stocks in Action Today

Fri, 15 Feb Pre-Open

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On Thursday, share markets in India traded on a negative note throughout the day and ended marginally lower after a volatile day of trading.

The BSE Sensex closed lower by 158 points to end the day at 35,876. Bharti Airtel and Infosys were among the top losers.

While the broader NSE Nifty ended down by 48 points to end at 10,746.

Among BSE sectoral indices, oil & gas stocks fell the most by 2.1%, followed by telecom stocks and energy stocks.

Top Stocks in Focus Today

From the auto space, M&M share price will be in focus today as the company has launched new SUV, the XUV300 at an ex-showroom starting price of Rs 7.90 lakh for the Petrol W4 variant and Rs 8.49 lakh for the Diesel W4 variant.

To know more about the company, you can read M&M's latest result analysis on our website.

Trident share price will be in focus today as the company has been granted a patent for 'Air Rich Yarn and Fabric and its method of manufacturing' by United States Patent & Trademark Office.

The present invention describes the novel 'Air Rich Fabric' and 'Air Rich Yarns' with pores throughout the cross section of the yarn.

L&T share price will also be in focus today. Reportedly, L&T's construction arm - L&T Construction has won orders across two of its business segments. The Power Transmission & Distribution (PT&D) Business has bagged several EPC orders.

On the International front, an order has been secured in the United Arab Emirates for the construction, supply, installation, testing and commissioning of a 132/11kV Substation and associated works.

Results Corner

Page Industries share price has reported a rise of 22.2% in its net profit at Rs 1.2 billion for the quarter under review as compared to Rs 0.8 billion for the same quarter in the previous year.

Total income of the company increased by 19.4% at Rs 7.5 billion for Q3FY19 as compared Rs 6.3 billion for the corresponding quarter previous year.

Godrej Industries share price has reported a fall of 78.8% in its net profit at Rs 0.5 billion for the quarter under review as compared to Rs 2.4 billion for the same quarter in the previous year.

On a consolidated basis, the company has reported a rise of 72.9% in its net profit at Rs 0.8 billion for the quarter under review as compared to Rs 0.5 billion for the same quarter in the previous year.

Force Motors share price has reported a rise of 72.9% in its net profit at Rs 774.1 million for the quarter under review as compared to Rs 447.7 million for the same quarter in the previous year.

Ashok Leyland share price has reported a fall of 21.5% in its net profit at Rs 3.8 billion for the quarter under review as compared to Rs 4.8 billion for the same quarter in the previous year.

You can read our recently released Q3FY19 results of other companies here: Reliance Industries, Infosys, TCS, Trident, HDFC bank, Maruti Suzuki, Tata Motors, Tata Steel, Aurobindo Pharma, MRF, Gillette, Bata India, Coal India, Indian Hotels.

From the Banking Space...

The Scheduled commercial banks (SCBs) credit growth moderated slightly to 14.5% YoY to Rs 943 billion as on 01 February 2019, compared with 14.6% growth a fortnight ago.

The credit growth has improved from 10.8% at end February 2018. Deposits rose 9.6% as on 01 February 2019.

The overall credit-deposit ratio eased to 77.8% as on 01 February 2019 from 77.9% a fortnight ago, while jumped from 74.9% in February 2018 with the faster growth in loans.

The investment-deposit ratio declined to 27.7% as on 01 February 2019, which is much higher above the Statutory Liquidity Ratio of 19.5%.

Also, note that the credit growth for banks is back to its 5-year high.

The credit growth that banks in India posted in December quarter of 2018, at 15.1% YoY, is not just very healthy. It's nearly 2 times GDP growth. But it also back to the five-year high.

Strong credit disbursal is clearly a sign of many things to come. Higher consumption demand, better capacity utilization, more capex and higher profits.

Rising Oil Prices...

Oil prices inched up on Thursday, on hopes that potential progress in the latest Sino-US tariff talks would improve the global economic outlook.

Note that crude oil prices inched up 1.5% yesterday as the Organization of the Petroleum Exporting Countries (OPEC) said it had deeply cut supply in January.

Gains were also seen as US sanctions hit Venezuela's oil exports.

Saudi Arabia, the world's top exporter and de facto leader of OPEC, said on Tuesday that it would reduce oil production to nearly 9.8 million barrels per day (bpd) in March, about half a million bpd more than it originally pledged.

Also at the radar are hopes expressed by US and Chinese officials that a new round of talks, which began in Beijing on Monday, would bring them closer to easing their months-long trade war.

It will be interesting to see how this pans out. Meanwhile, we will keep you updated on the latest news from this space.

US-India Talks

US and Indian government officials pressed on with talks yesterday to resolve their differences over trade and investment.

India and the United States are sparring over a range of issues, from India's new rules on e-ecommerce that affect firms such as Amazon and Walmart to data localization and its tariffs that US President Donald Trump says are exceptionally high.

Washington has also had a longstanding grievance with India over its large trade deficit with the United States and what it sees as the Indian government's lax intellectual property enforcement.

According to sources, the trade negotiations would be conducted by the United States Trade Representative (USTR) and not by the Commerce Department, which is focused on boosting investment, improving the business climate and some specific areas such as travel and tourism.

It would be interesting to see how this all pans out. Meanwhile, we will keep you updated on the latest news from this space.

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