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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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FMCG stocks lead the downfall 
(Mon, 13 May 11:30 am) 
 
Indian equity markets traded in the red during the previous two hours of trade. Sectoral indices traded weak with healthcare, consumer durables and banking stocks being the exceptions.

The BSE-Sensex is trading lower by 130 points and NSE-Nifty is trading down by 37 points. BSE Mid Cap and BSE Small Cap indices are trading down by 0.2% each. The rupee is trading at 54.86 to the US dollar.

Retailing stocks are trading mixed with Titan Industries and Zodiac Clothing as top gainers and Provogue (I) Limited and Koutons Retail as top losers. A sper a leading daily, Titan Industries's Tanishq plans to open 33 stores in FY14. This will be in addition to the existing 150 stores that the company has. Titan is planning to open newer stores in A, B and C class towns. The company will adopt a mix of company owned and franchise stores for expansion. With this Titan is targeting a revenue growth of 27% in this financial year. We may note here that Titan is a watch cum jewellery maker. However, jewellery contributes about 70% of its overall revenues. Of this, Tanishq account for 95%. We may also note that most organized jewellers are in growth phase and have ambitious expansion plans lined up for themselves.

Automobile stocks are trading weak led by Tube Investments and TVS Motors. As per a leading daily, the Indian bike market is seeing contradictory trends. Honda Motorcycle and Scooter India (Honda), the wholly-owned arm of the Japanese firm is doing better business than its peers like Hero MotoCorp and Bajaj Auto. Thus, while the bike sales of both Hero and Bajaj witnessed decline in April, Honda's bike sales were up. Hero's domestic bike sales fell by 12.5% YoY and Bajaj's fell by 0.19%. However, Honda's bike sales have increased by 48.7% YoY during the same period. The trend is true not just for April month but the whole financial year too. Honda saw annual sales growth of 53.8% YoY as compared to 4.7% YoY decline in Hero's motorcycle sales. Also, Bajaj's sales dipped by 4% YoY during the last fiscal.

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