Sensex, Nifty Extend Losses; Energy & Realty Stocks Hit

Wed, 2 Nov 01:30 pm

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Indian share markets continued to witness selling activity in the noon session amid weak global markets after a new US presidential poll showed Donald Trump ahead of Hillary Clinton. Barring consumer durables sector, all the sectoral indices are trading in red.

The BSE Sensex is trading lower by 285 points and the NSE Nifty is trading lower by 90 points. Both the BSE Mid Cap index & the BSE Small Cap index are down by 1.5% each. The rupee is trading at 66.70 to the US$.

Shares of Mahindra & Mahindra (M&M) are trading on an encouraging note (up 3.2%) after the company reported its auto sales numbers for October 2016. The total sales stood at 52,008 vehicles as compared to 51,383 vehicles during October 2015.

The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 24,737 vehicles in October 2016 as against 24,060 vehicles during October 2015, representing a growth of 3%. The company's domestic sales stood at 48,729 vehicles during October 2016, as against 48,815 vehicles during October 2015.

Exports for October 2016 stood at 3,279 units registering a growth of 28% over October 2015.

Meanwhile, Tata Motors' passenger and commercial vehicle total sales (including exports) in October 2016 were at 52,813 vehicles, a growth of 21%, over 43,486 vehicles sold in October 2015.

Cumulative sales (including exports) of the company for the fiscal was at 311,629 units, higher by 9% over 286,048 vehicles, sold last year. The company continued to witness YoY growth in certain key segments in October 2016, with the company's passenger vehicles growing by 28%, recording highest sales in last 4 years.

The Company's Commercial Vehicles business recorded the highest sales in this year, grew by 15% and LCVs continued to grow by 21%, due to strong demand in festive season.

The company's sales from exports were at 6,333 units, in October 2016, a growth of 39% as compared to 4,569 vehicles sold in October 2015.

Share price of Tata Motors is presently trading down by 2.7% on the BSE.

Moving on to news from stocks in power sector. Share price of NTPC gained 1% after it was reported that the company inked a supplemental Joint Venture Agreement (JVA) on October 31, 2016 with Coal India (CIL), Indian Oil Corporation (IOC), Fertilizer Corporation of India (FCIL) and Hindustan Fertilizer Corporation (HFCL) in order to induct IOC, FCIL and HFCL, as Joint Venture (JV) partners and shareholders in Hindustan Urvarak & Rasayn (HURL).

As per the JVA, CIL, NTPC and IOC each will hold 29.67% shares and FCIL & HFCL together will hold remaining 10.99% shares. Earlier, in May, CIL had signed JVA with NTPC for the same.

HURL shall also take up revival of Barauni Plant of HFCL in addition to revival of Gorakhpur and Sindri plants of FCIL by setting up ammonia urea plants at each locations.

In another development, NTCP reported an 18% drop in its stand-alone net profit at Rs 24.96 billion for the September 2016 quarter compared to Rs 30.39 billion in the year-ago period. Its total income rose 7% YoY to Rs 195.88 billion as compared to Rs 182.18 billion a year ago.

As per the reports, NTPC has a total installed capacity of 47,228 MW. It generated 125 billion units during the second quarter of FY17 against 119 billion units last year. NTPC's coal stations achieved a plant load factor of 77.98% against national PLF of 59.04%.

The company also incurred an outgo of Rs 44.3 million due to the Central Electricity Regulatory Commission ruling on changing incentive schemes for power generation companies. Under the tariff guidelines of the Commission, generation companies would earn incentives based on PLF they maintain at their power plants and not on plant availability factor.

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