Rising Crude Oil Prices, Developments in the Automobile Sector, and Top Cues in Focus Today

Thu, 25 Apr Pre-Open

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Indian share markets ended their trading session on a strong note yesterday. Gains were largely seen in the oil & gas sector and telecom sector, while stocks from the auto sector witnessed selling pressure.

At the closing bell yesterday, the BSE Sensex stood higher by 490 points (up 1.3%) and the NSE Nifty closed higher by 150 points (up 1.3%). Both, the BSE Mid Cap index and the BSE Small Cap index ended the day up by 0.4%.

Top Stocks in Focus Today

From the cement sector, ACC share price will be in focus today. The stock of the cement maker was in focus yesterday after the company reported a 38.2% increase in its consolidated profit earlier this week at Rs 3.5 billion for the first quarter ended March 2019, helped by increase in sales volume.

The company had posted a consolidated profit of Rs 2.5 billion in the January-March quarter a year ago.

ACC's total income during the period under review was up 11% to Rs 40.8 billion as against Rs 36.7 billion in the corresponding period of the previous fiscal.

ACC's cement sales volume was up 5.6% to 7.5 million tonne in the January-March quarter as against 7.1 million tonne.

During the quarter, revenue from cement segment was at Rs 35.9 billion, up 6.9%, as against Rs 33.6 billion in the year-ago period.

On the outlook, the company said, predictions of a normal monsoon augur well for the rural economy. The government's continued thrust on infrastructure development as well as 'Housing for All' initiatives are expected to invigorate the construction sector and stimulate cement demand.

From the pharma sector, Lupin share price will be in focus as the US health regulator has cautioned Lupin that the firm's Pithampur facility may be subject to regulatory or administrative action. Hence, it may withhold approval of any pending applications or supplements in which this facility is listed.

The company has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Pithampur (Indore) Unit-2 facility in January 2019 as Official Action Indicated (OAI).

Apart from the above, market participants will be tracking Indiabulls Housing Finance share price, UltraTech Cement share price and Tata Global Beverages share price as these companies announced their Q4FY19 results yesterday.

You can also read our recently released Q4FY19 results: HDFC Bank, Mahindra Lifespace, Reliance Industries.

From the Automobile Sector...

Maruti Suzuki share price will be in focus today. The stock of the company witnessed selling pressure yesterday and fell as much as 1.8% to Rs 6,925, its lowest since April 3.

Earlier this week, the company launched a new 1.2 litre DUALJET, DUAL VVT BS VI engine with next generation Smart Hybrid technology in Baleno, a premium hatchback.

The new BS VI compliant Baleno (Petrol) with Smart Hybrid will be available at NEXA showrooms across the country.

Note that automobile companies have shifted to low gear and demand has flattened across the board. NBFC crisis, followed by lower off-tick of volumes and increasing competition has taken a major toll on automobile original equipment manufacturer (OEMs).

According to reports, major dealers across the country have been burdened with high inventory prompting OEMs to re-align their production.

While private vehicles (PVs) have been facing stiff task with dealers across geographies grappling with higher inventory, commercial vehicles (CVs) are seeing some revival led by fresh disbursal by NBFCs.

Also, speaking of automobiles sector, 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.

She believes, this could be the opportunity long term investors were waiting for.

Crude Oil Continues Its Momentum

Note that crude oil prices have quietly creeped up.

Oil prices jumped as much as 3.2% to their highest level since late 2018 on news that the United States is likely to ask all importers of Iranian oil to end their purchases or face US sanctions. The surge in oil prices has been weighing on rupee.

Bond yields also hardened in the wake of rising oil prices.

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