Indian Share Markets Trade Flat; Tata Motors & Sun Pharma Top Losers

Tue, 13 Nov 12:30 pm

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Stock markets in India are trading range-bound in the afternoon session. Among the sectoral indices, realty and healthcare stocks are witnessing maximum selling pressure. While, energy stocks and PSU stocks are trading in green.

The BSE Sensex is trading higher by 76 points (up 0.2%), and the NSE Nifty is trading higher by 26 points (up 0.2%). Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading down by 0.7% & 0.4% respectively. The rupee is trading at 72.59 to the US$.

In the news from the aviation sector. As per the International Air Transport Association (IATA), Indian airlines achieved their 49th consecutive month of double-digit traffic growth. The growth came on the back of a rise in demand to 19.8% in September.

According to the data, India's domestic air passenger volume measured in revenue passenger kilometers (RPK) was highest among major aviation markets like Australia, Brazil, China, Japan, Russia and the US.

It also mentioned that India's domestic passenger traffic growth was followed by that of the Russian Federation at 11.1% and China at 9.3%.

In terms of capacity, IATA stated that India's domestic available seat kilometres (ASK), which measures available passenger capacity, was higher by 18.8% in September, that of China's 10.3% and the US saw a 8.6% rise.

Speaking of airline sector, India's aviation industry is on a high-growth trajectory. India's domestic air traffic has seen a prolific growth of 20-25% during 2015 and 2016. And in 2017, it tapered to 17.4%. However, for the first time, domestic air traffic crossed an important landmark of 100 million passengers during the previous year.

What's foreseeable for India's aviation traffic now is some pressure on the back of the consistent rise in crude oil prices.

Oil prices are closely monitored by the Indian air carriers, as aviation turbine fuel is their single largest input cost. A sharp rise in the cost of fuel puts pressure on margins, and consequently an increase in air fares.

Although air travel is becoming the new normal, investors need to understand the industry dynamics before buying up aviation stocks.

Moving on to the news from the automobiles sector. Tata Motors shares are in focus today as the company's global wholesales in October 2018, including Jaguar Land Rover, were at 1,09,597 nos., higher by 6%, as compared to October 2017.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in October 2018 were at 44,380 number, higher by 19%, over October 2017.

Global wholesales of all passenger vehicles in October 2018 were at 65,217 nos., lower by 2%, compared to October 2017. Global wholesales for Jaguar Land Rover were 46,766 vehicles (JLR number for October 2018 includes CJLR volumes of 2,385 units).

Jaguar wholesales for the month were 13,373 vehicles, while Land Rover wholesales for the month were 33,393 vehicles.

To know more about the company, you can access to Tata Motors Q2FY19 result analysis and Tata Motors' Stock Analysis on our website.

Speaking of auto stocks, some of the biggest passenger car, commercial vehicle, and two-wheeler companies in India have seen a huge dent in valuations in recent times, as can be seen from the chart below.

This could be the opportunity long term investors were waiting for.

Bluechip Auto Are Stocks Way Off Their Valuation Peaks

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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Indian Share Market Update: Top Gainers and Losers