Sensex Pares Gains; Energy, Realty Stocks Gain

Wed, 24 Oct 12:30 pm

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After opening the day in green share markets in India are trading on a positive note and are presently trading above the dotted line. Sectoral indices are trading on a mixed note, with stocks in the realty sector and stocks in the energy sector witnessing maximum buying interest.

The BSE Sensex is trading up by 151 points (up 0.4%) and the NSE Nifty is trading up by 54 points (up 0.5%). Meanwhile, the BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 0.3%. The rupee is trading at 73.29 to the US$.

In news from stocks in the auto sector. Hero Motocorp share price is in focus today after the company detailed plans for expansion of its two-wheeler offerings.

The company is planning to have half a dozen scooters in its product portfolio in the next 8-12 months, as the nation's largest two-wheeler maker seeks to expand its presence in a fast-growing segment where its presence is rather small.

The company had earlier this year announced its intent to enter the premium motorcycles and scooter space. It launched the Extreme 200 motorcycle in July, and recently introduced a new 125 cc scooter, Destini. With this, it has four scooter models in its portfolio.

Hero MotoCorp believes that the scooter market is witnessing a shift towards products with higher engine capacity. The 125cc segment, which accounts for 20% of the scooter space, has been expanding at a rapid pace, witnessing growth of more than 75% since April this year.

Hero MotoCorp plans to next launch the Maestro Edge 125 before the end of the fiscal year and a 110 cc model next financial year.

Hero MotoCorp has a share of more than 60% in India's mass-market motorcycle segment. However, it has just a 10.4% share in the scooter space and is as good as inexistent in the 150cc-plus motorcycle market. The company had lost the No. 2 spot in scooters a few years ago to TVS Motor. Honda is the segment leader with an almost 60% market share.

At the time of writing, Hero Motocorp share price was trading down by 0.5%.

2018 hasn't been good for stalwart auto and auto ancillary companies. No wonder the BSE Auto index is down 23% this year.

The chart shows how India's big auto companies have fared this year.

Are Auto Companies Running Out of Gas

The biggest losers are Tata Motors (down 57%) and Motherson Sumi (down 34%).

Others like Maruti Suzuki, Hero Motocorp, Bajaj Auto have fallen between more than 20%.

So, is this a good time to buy select auto stocks?

Kunal and Sarvajeet at Smart Money Secrets certainly think so.

Richa Agarwal, editor of Hidden Treasure, agrees with us.

With the recent correction in the entire auto space, she initiated a coverage on engine manufacturer this month. This company enjoys the benefits of a strong brand and a supportive parent.

Also, one of Richa's earlier 'buy at lower level' recommendations has now become a 'Buy' recommendation.

As per her forecast, there is an upside potential of more than 50%.

She sent a special update in this regard. Hidden Treasure subscribers can access it here.

If you haven't signed up for Hidden Treasure, you can do so here.

Moving on to news from stocks in the steel sector. Tata Steel share price is in focus today after the company decided to sell off an iron ore mine in South Africa.

The company's subsidiary, TS Global Minerals entered into an agreement to divest its entire stake in its wholly owned step down subsidiary Black Ginger 461 Pty Ltd.

The agreement is to tell off the iron ore mine to IMR Metallurgical Resources AG, a Switzerland-based metals and mining group, for 366 million South African rand or US$25.6 million. This amounts to a deal size of about Rs 1.9 billion. The transaction is expected to be closed in around 12 months.

The proceeds from the sale will factor in adjustments for working capital and closing cash balance. The mining operations reported a revenue of Rs 8.9 billion in the financial year 2017-18. While Tata Steel is scaling down its operations in South Africa, IMR, a leading supplier of raw materials to the steel industry and an international trading company is increasingly looking at widening its presence in India. IMR has bid for assets undergoing the auction process under the National Company Law Tribunal, including FACOR.

At the time of writing, Tata Steel share price was trading down by 0.2%.

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

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