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Inflation Data, Grasim's Strong Q1 Result & Cues to Watch Out Today
Wed, 16 Aug Pre-Open

Indian stock markets on Monday rose for the first time in six days, with the benchmark Sensex rebounding over 235 points to end at 31,449 as market participants took comfort from the fact that tensions between the US and North Korea showed some signs of easing. The sentiments also remained optimistic on strong global cues.

The S&P BSE Mid Cap finished up by 2.5% while & S&P BSE Small Cap too finished up by 2.5% in previous trade. Gains were largely seen in metal stocks, realty stocks and consumer durables stocks.

Top Stocks in Focus

Grasim industries share price is expected to be in action today after the company reported a 9.47% rise in its consolidated net profit at Rs 12.48 billion for the quarter to 30 June on account of higher income. The company had posted a consolidated net profit of Rs 11.4 billion during the same period of the previous fiscal.

Titan share price is expected to be in limelight as the company expects its jewellery sales to rise by 20-30 percent in 2017/18 fiscal year ending March, as it plans to add more than two dozen retail stores to boost its presence in small towns.

As per Livemint, Titan has become the top pick among Indian jewellers after the government implemented the uniform goods and services tax (GST) last month, as well as introducing additional measures to increase financial accountability and clamp down on so-called black money. The stock has surged 94% this year to a record, valuing the company at about Rs 563 billion (US$8.8 billion).

Bajaj Finance share price is expected to be in action today as the company reportedly hired three investment banks and started work on a qualified institutional placement (QIP) to raise around US$700 million (Rs 45 billion). Bajaj Finance is growing fast and needs capital to replenish its Tier-I capital to keep funding that growth.

In news from FMCG sector, as per The Economic Times, Britannia is looking at increasing its distribution footprint and winning market share from local players after facing initial GST glitches. The company also said its other key focus areas include entering one new geography every year and enter new product categories as it aspired to be a total food company.

Maruti Suzuki share price is likely to see some movement as the company is cranking out a revamped strategy for its used-car business `True Value'. The new business plan includes a dealer centric model that will see a network of independent True Value outlets being set up across India. This network is part of company's 2020 sales target of 2 million units per annum.

Lupin has received the final approval of Abbreviated New Drug Application from the USFDA for Lanthanum Carbonate Chewable Tablets. The product, as the first generic, will be launched shortly in the USA market. Fosrenol Chewable Tablets has US sales of $122.4 million as per IMS MAT June 2017. Lupin and Natco had entered into an agreement on September 01, 2008 to jointly commercialize generic equivalents of Fosrenol Chewable Tablets.

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WPI Inflation Rises

After showing signs of easing since last four months, India's inflation has surprisingly quickened in the month of July, due to rise in prices of Food Articles and Non-Food Articles. According to the data released by the Ministry of Commerce & Industry, the wholesale price index (WPI) inflation advanced to 1.88% in the month of July versus 0.90% in the month of June and 0.63% during the corresponding month of the previous year.

Meanwhile, India's industrial output contracted by 0.1% in the month of June 2017, as compared to an expansion of 8% in the previous year-ago period, also lower than 2.8% growth in May. This reading was a four-year low since June 2013.Segments like mining, power generation, infrastructure/construction goods and consumer durables recorded poor performance. Besides, data for growth in the Index of Industrial Production (IIP) for May was revised to 2.8%.

Global Markets Continue to Wobble

Global equity markets retraced some of last week's pullback, as robust Asian corporate earnings and reduced fears of imminent military conflict between the US and North Korea lifted buying interest.

Japan posted 4% Annualized GDP Growth in April-June Quarter.

Japan's economy grew more quickly than expected in the April-June quarter, with strong household spending driving the sixth straight quarter of growth under Prime Minister Shinzo Abe.

Here are some key upcoming events:

  • A crowded US data docket will give some indication of whether second-half GDP will outperform the first half. As per Bloomberg, July retail sales are expected to rise from June.
  • Today, the Federal Open Market Committee will issue minutes from a July policy meeting that may hold clues on the next rate hike.
  • Euro-area second-quarter GDP data is due to be released today.

Oil prices slip

Oil prices fell on Monday as a slowdown in Chinese refining raised concerns about demand in the world's second-biggest consumer, while an increase in US drilling capacity could deepen a global supply glut.

Reportedly, the drop was steeper than expected, exacerbating concerns that a glut of refined fuel products could weaken Chinese demand for oil.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

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

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Mar 16, 2018 (Close)