Sensex Trades Marginally Higher; IT & Consumer Durable Stocks Lead

Thu, 15 Nov 12:30 pm

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Share markets in India are presently trading on a positive note. Sectoral indices are trading in green with stocks in the consumer durables sector and IT sector witnessing maximum buying interest.

The BSE Sensex is trading up by 139 points (up 0.4%), while the NSE Nifty is trading up by 33 points (up 0.3%). The BSE Mid Cap index is trading up 0.3%, while the BSE Small Cap index is trading up by 0.1%.

The rupee is trading at Rs 72.17 against the US$.

In the latest development from the results corner, Grasim Industries share price is in focus today as the company reported a consolidated net loss at Rs 13 billion for the September quarter.

The company had reported a net profit of Rs 7.9 billion in the same quarter last year.

Reportedly, the loss is because of an exceptional item related to the merger of Vodafone with Idea Cellular.

Grasim Industries share price is trading down by 7.5%.

Speaking of quarterly results, you can check our recently released Q2FY19 result analysis of the following companies: Sun Pharma, Jet Airways, Ashok Leyland, Axis bank, Titan company and more.

Also, it's interesting to note that there is typically a big contrast between quarterly and annual earnings performance of companies and the extent to which they find favour among investors.

Over the last two months, for instance, stocks of companies that showed earnings recovery in September quarter, were as beaten down from 52-week highs as the stocks that underperformed in earnings.

Beware of following such herds.

Instead, stick to the best safe stocks in the market.

Moving on to the news from the banking space, Yes bank share price is also in focus today after Ashok Chawla stepped down as the bank's non-executive chairman yesterday.

Reportedly, Chawla resigned as he felt the bank would need a chairman who could devote more time and attention while chief executive Rana Kapoor is on his way out.

Yes bank share price is trading down by 8%.

Speaking of corporate banks, Sarvajeet offers an interesting observation on a corporate bank stock with 80% upside.

Here's what he wrote in one of the recent editions of The 5 Minute WrapUp...

• Corporate banks have underperformed retail-focused banks in the last five years. The chart below shows the annualised returns of the last five years.
  
  

  Corporate Banks Underperforming Retail-focused Banks

  

  Retail-focused banks such as HDFC Bank and Kotak Mahindra bank performed significantly better compared to corporate banks. One of the important reasons for this outperformance is stable asset quality. They could maintain gross NPAs below 1% in the previous five years.

  Whereas corporate focused banks such as ICICI Bank, Axis Bank, and SBI are facing serious asset quality issues. Not to mention, some of these banks had management issues as well. No wonder these banks not only underperformed retail-focused banks, but also the BSE Bank index as well.

  But as I mentioned earlier, the worst is behind them.

  We recommended a corporate bank in Smart Money Secrets.

  Its aggressive clean-up of its corporate loan book, hiring the right people at the top, adoption of digital technology, and using algorithms in its core operations, bodes well for the bank and its stock. Smart Money Subscribers can access the report here.

  If you do not have access to Smart Money Secrets, you can sign up 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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