Sensex, Nifty Continue to Trade in Green; Auto Stocks Rally

Fri, 1 Sep 01:30 pm

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Indian share markets continued to trade in green despite weak economic growth data for the June quarter. Realty stocks, auto stocks and metal stocks witnessed majority of the buying activity. Consumer durables stocks and software stocks were trading in red.

The BSE Sensex is trading higher by 133 points and the NSE Nifty is trading higher by 43 points. Meanwhile, the BSE Mid Cap index is trading up by 0.9% & the BSE Small Cap index is up by 1%. The rupee is trading at 64.02 to the US$.

As per an article in The Economic Times, Nestle India expects its registered sales growth to be impacted till June next year because GST. However, sales volume is not expected to be impacted as much.

The company has stated that the excise duty has got subsumed in the GST rate post July 1 and will be netted from the sales, which will be higher than the pre-GST regime. In the pre-GST regime, sales were registered gross of excise duty and excise duty used to be a separate cost line and the VAT which was paid on sales was netted from sales.

The range of the GST rates for each of the company's categories are between 5% and 28%.

The company also recently stated that it is likely to foray new categories like water and pet care in the country. The company said about half of its growth now comes from its non-noodles portfolio, and that it will focus now on driving double digit volume growth, sustaining profitability, and fortified products across categories.

Nestle India share price is presently trading down by 1% on the BSE.

FMCG stocks are trading on a firm note with Kokuyo Camlin share price and Lakshmi Overseas Industries share price leading the gains.

Meanwhile, Patanjali seems to have disrupted the FMCG pecking order. The share of Indian households that use the Patanjali brand is estimated at 38%. That's huge for a company barely a decade and a half old. Especially if you consider Patanjali's competition.

Patanjali Disrupts FMCG Pecking Order

In 2016-17, the company posted revenues of more than Rs 100 billion. It has surged past behemoths such as ITC, Nestle India, Britannia Industries, and Dabur to become the second largest pure play FMCG company...second only to HUL.

Moving on to news from automobile stocks. Maruti Suzuki share price was trading on an encouraging note (up 1.6%) after the company reported 23.8% increase in total sales at 1,63,701 units in August as against 1,32,211 units in the year-ago month as dealerships prepare for the festive demand that begins later this month. Maruti's growth will also ensure a double-digit growth in the industry's sales for the month.

The company's domestic sales stood at 1,52,000 units, up 26.7% from 1,19,931 units in August last year.

Sales of mini segment cars, including Alto and WagonR, witnessed a marginal decline to 35,428 units during the month under review from 35,490 units in August 2016.

Similarly, Eicher motors share price was up 1% as the company's motorcycle division reported a 22% jump in total sales in August 2017 at 67,977 units, as against 55,721 units in the same month last year. During August 2017, the number of motorcycle units exported, increased by 12% to 1,105 units from 986 units in August 2016.

The company's motorcycle division Royal Enfield on Monday commenced production at its new factory at Vallam Vadagal near Chennai. The plant is Royal Enfield's third manufacturing facility, and will produce motorcycles for domestic and international markets.

Royal Enfield has planned to invest Rs 8 billion during this fiscal, largely towards capacity expansion at Vallam Vadagal, new products and platforms, and technical centres in Leicester, UK, and Chennai to support its growth plans.

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