Indian Indices Open Flat

Tue, 10 May 09:30 am

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Major Asian stock markets have opened the day on a positive note. Stock markets in Japan and China are trading higher by 2.1% and 0.2% respectively. Benchmark indices in Europe and US ended their previous session on an encouraging note. The rupee is trading at 66.43 per US$.

Indian stock markets have opened the day on a flattish note. The BSE Sensex is trading marginally higher by 2 points (up 0.01%) and NSE Nifty is trading marginally lower by 5 points (down 0.07%). Both, BSE Mid Cap and BSE Small Cap have surged upwards and are trading higher by 0.2% and 0.3% respectively.

Major sectoral indices have opened the day on a mixed note with stocks from FMCG sector witnessing buying interest. Whereas, stock from automobile and telecommunication sector is witnessing selling pressure.

Hindustan Unilever Ltd reported its results for the quarter ended March 2016. The company's net sales grew by 3.4% YoY during the quarter to Rs 78 billion.

The sales grew marginally on account of slowdown from rural areas. Reportedly, 35%-40% of the company's sales come from rural areas. Two successive years of deficit rainfall have impacted the rural consumption and thus their volumes. The sales volume reported a marginal growth of 4% during the quarter. The management stated that rural markets are growing at a slower pace as compared to urban markets. This trend was exactly opposite few years back. It was the rural markets which was driving the growth for the company.

Further, the operating margins expanded by 1.3% YoY to 18.5%. The operating profits too witnessed a growth of 11.3% YoY during the quarter. The margins expanded on account of lower raw material cost coupled with price increase in some of the premium offerings.

The net profits grew by 7% YoY to Rs 10.9 billion during the quarter. Increasing competition from Patanjali too has hampered the volumes. A normal monsoon coupled with increasing competition will be the key things to assess for the company going forward. The stock is trading higher by 1.3%.

In another news update, sales of passenger vehicles in April which includes cars, utility vehicles and vans grew by 11% YoY to 242,060 units for the month. Further, the sales across other categories too including commercial vehicle, three-wheelers, motorcycle and scooters grew in healthy double digits.

The growth in the passenger vehicles was led by the sales of the utility vehicle. The sales of utility vehicle grew by 42.8% YoY to 62170 units. Reportedly, this growth is on account of traction from small sports utility vehicle such as Maruti Suzuki's Vistara Brezza and Mahindra and Mahindra Ltd's KUV 100, TUV 300 and NuvoSport.

Further, the sales of two-wheelers too reported a healthy growth of 21.2% YoY during the month of April. The volumes have gained traction on the back of strong demand from the urban areas. Commercial vehicles too have reported a growth of 17.36% YoY during the month of April indicating a pick-up in the economic activities.

Speaking about cars, Vivek Kaul has written an interesting article correlating car sales to black money. Click here to read this interesting piece.

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