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Indian Markets Trade in the Green
Tue, 8 Mar 11:30 am

After opening the day on a flattish note, the Indian Markets have registered some gains. Presently, they are trading in the green. Most sectoral indices are trading on a positive note with stocks from the metal, oil & gas, and realty sectors leading the gains.

The BSE Sensex is trading up 74 points (up 0.3%) and the NSE Nifty is trading up 20 points (up 0.3%). The BSE Mid Cap index is trading up by 0.4% while the BSE Small Cap index is trading up 0.7%. The rupee is trading at 67.29 to the US$.

Energy stocks are trading on a positive note with Cairn India and Hindustan Oil Exploration leading the gains. As per a leading financial daily, Hindustan Petroleum Corporation Ltd (HPCL) is planning to invest Rs 450 billion by 2020 to expand of its Mumbai and Visakhapatnam refineries, along with augmenting of its marketing infrastructure.

The company stated that Rs 210 billion will be invested in increasing refinery capacity while Rs 90 billion will be spent in marketing infrastructure till 2020. Further, a total of Rs 140 billion will go into joint venture refinery projects, natural gas business and upstream oil exploration.

As for its refineries, the company will invest Rs 41 billion in expanding its Mumbai refinery capacity to 9.5 MTPA (million tonnes per annum). This is as against the existing 6.5 MTPA capacity. For its Vishakhapatnam refinery, the company will invest Rs 170 billion to expand the refinery to 15 MTPA capacity from the existing 8 MTPA. US$ 350 million is to be spent in raising capacity of the 9 MTPA Bhatinda refinery to 11.25 MTPA.

Also, the company stated that the investments would also help the company produce products confirming to Euro V/VI emission specification.

On a separate note, the company is also partnering Mumbai-based infrastructure major Shapoorji Pallonji to set up a 5 MTPA liquefied natural gas (LNG) import terminal at Chhara port in Gujarat. The cost for the same is Rs 54 billion. HPCL holds 50% stake in the project and SP Ports, a unit of the Shapoorji Pallonji Group, holds the balance. Presently the stock of HPCL is trading up by 2.2%.

Stocks in the automobile space are trading on a mixed note with Tube Investments and Tata Motors leading the gains. In another news, Bajaj Auto is looking to sell around 50,000 units of 150CC 'V' bikes in the country in the next 12-18 months. Further, the company will evaluate on whether to extend 'V' brand to other bike categories during the same time period. The extension of the brand will depend on acceptance level of the bike by consumers.

The company's management stated that the three launches last year were successful in beating the subdued market trend in the motorcycle segment.

Further, in January, the company launched a new model of CT-100B which costs about Rs 31,000 ex-showroom. This is because the scope for rural penetration remains high. As per the company's management, the rural demand is expected to grow with the government giving impetus to the segment in the budget.

These plans will aid the growth of the company. As Radhika Pandit, Managing Editor, ValuePro has stated in the result analysis of the company, "Although Bajaj Auto has no presence in the scooters segment, we believe there are various growth triggers for the company over the next couple of years." To know our views on the stock of the company, you can read our analysis of the results here (subscription required).

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Nov 22, 2017 11:13 AM