Sensex Down Over 150 Points; Realty & Auto Stocks Under Pressure

Tue, 30 Apr 12:30 pm

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Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the realty sector, telecom sector and automobiles sector witnessing maximum selling pressure while IT stocks and consumer durables stocks are witnessing buying interest.

The BSE Sensex is trading down by 154 points (down 0.4%), while the NSE Nifty is trading down by 54 points (down 0.5%). The BSE Mid Cap index is trading down by 1.3% and the BSE Small Cap index is trading down by 1.2%.

The rupee is trading at Rs 69.85 against the US$.

Market participants are tracking Raymond share price, Kotak Mahindra Bank share price, and Ambuja Cements share price as these companies are set to announce their Q4FY19 results later today.

You can also read our recently released Q4FY19 results: Axis Bank, Rallis, Cyient, Persistent Systems.

In the news from the realty sector, Indiabulls Real Estate share price and its joint venture (JV) partner, Blackstone Group are acquiring three office estates in Delhi and Gurugram.

Reportedly, acquisition of two office properties will be completed in the June quarter, while the third one will be closed after that. All assets will be part of the joint venture portfolio.

Shares of the company are presently trading 7% lower on back of the above news.

Last year, Blackstone had bought a 50% stake in the company's office properties One Indiabulls and Indiabulls Finance Centre in central Mumbai for US$ 730 million, which helped the Mumbai based developer reduce its debt.

Last week, the company said its rental portfolio is ready for a real estate investment trust, or REIT, listing, which will provide an opportunity to unlock value.

The developer also said, to pare debt given the uncertainty around Brexit, it has decided to divest Century Ltd, the parent firm that houses the Hanover Square property in London.

Speaking of realty sector, note that the BSE Realty index has been volatile in the last five years.

Have a look at the chart below to see the performance:

Volatile Performance of BSE Realty Index in the Last Five Years

Here's what Sarvajeet Bodas wrote about it in one of the recent editions of The 5 Minute WrapUp...

• In 2017, the BSE Realty index was the best performer with a massive gain of 98%. In the next year, the index was the worst performer with a decline of 31%.
  
  In 2018, the realty sector took a beating on the back of concerns of higher interest rates and accounting changes (from percentage of completion method to completion method). The NBFC crisis added to the woes.
  
  Interestingly, 2018 also witnessed some improvement in real estate sales.
  
  2019 hasn't been good so far with the index down about 3%.
  
  However, the recent budgetary support and interest rate reduction by the RBI could help to revive demand.
  
  Buying the right real estate stock today is the way to go.

He believes, this could be the turning point for the real estate sector.

Moving on to the news from the automobiles sector, Hero MotoCorp share price has reported a fall of 24.5% in its net profit at Rs 7.3 billion for the quarter ended March 31, 2019 as compared to Rs 9.7 billion for the same quarter in the previous year. Total income of the company decreased by 7.8% at Rs 80.5 billion for quarter under review as compared to Rs 87.3 billion for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a fall of 8.5% in its net profit at Rs 33.58 billion as compared to Rs 37 billion for the previous year.

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

In other news, Maruti Suzuki has introduced powerful 1.5 litre DDIS 225 Diesel Engine with 6-speed manual transmission in the Next Gen Ertiga. The latest 1.5 litre DDIS 225 4-cylinder diesel engine is developed in-house to deliver enhanced performance.

Reports state that the new engine on Next Gen Ertiga uses 'Dual Mass flywheel' that helps to reduce engine fluctuations. The pendulum type engine mounting further adds to superior ride quality leading to refined noise, vibration, and harshness performance.

Shares of Maruti Suzuki are presently trading down by 2%, extending their decline to the seventh day.

Last week, the company forecast a weak rate of growth for the current fiscal year, blaming uncertain fuel prices and the onset of stricter emission norms.

It also reported quarterly earnings for the fourth quarter. Its net profit fell by 5% to Rs 18 billion. You can read the detailed results here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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