Of India's Crude Oil Imports, Job Creation in October, and Top Cues in Focus Today

Thu, 22 Nov Pre-Open

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Share markets in India continued to witness selling pressure during closing hours yesterday and ended their trading session on a negative note. Sectoral indices ended on a negative note with stocks in the IT sector and energy sector witnessing most of the selling pressure.

At the closing bell yesterday, the BSE Sensex stood lower by 274 points (down 0.8%) and the NSE Nifty closed down by 56 points (down 0.5%). The BSE Mid Cap index ended the day up 0.6%, while the BSE Small Cap index ended the day up 0.1%.

Top Stocks in Focus Today

From the pharma space, Dr Reddy's share price will be in focus today as a court ruling allowed the company to sell a generic of Indivior Plc's opioid treatment drug Suboxone in the US. To know more about the company, you can check Dr Reddy's Q2FY19 result and Dr Reddy's annual report on our website.

Lupin share price will also be in focus today after it was yesterday reported that the company launched Tetrabenazine Tablets, 12.5 mg and 25 mg. It received an approval from the United States Food and Drug Administration (USFDA) earlier.

Lupin's Tetrabenazine Tablets are ndicated for the treatment of chorea associated with Huntington's disease and had annual sales of US$153 million in the US (IQVIA MAT September 2018).To know more about the company, you can access to Lupin's Q1FY19 result analysis and Lupin's 2017-18 Annual Report Analysis on our website.

From the aviation sector, Jet Airways share price will also be in focus today as it yesterday said it is in talks to secure sustainable financing for its operations and growth.

Of India's Crude Oil Imports in October

Market participants will also be tracking crude oil prices today as stock market sentiments took a hit yesterday on back of reports that India's crude oil imports in October rose to their highest level in at least more than seven years.

As per the data, crude import in October climbed 10.5% from a year earlier to 21.02 million tonnes.

Note that India's crude oil production was lower by 4.2% in September 2018 as compared to last year.

The worrying factor is this was the lowest production this year.

Here's what Tanushree Banerjee wrote about it in one of the recent editions of The 5 Minute WrapUp...

• Comparing domestic production with the crude oil processed by refineries gives an idea of the demand supply gap. Low domestic production as compared to the demand for crude oil places a huge burden on India's import bill.
  
  Rising crude oil prices could have severe implications. Rising inflation. Rising interest rates. Pressure on the government to cut excise duty, thereby impacting its revenues.
  
  We have seen some of this play out. With elections around the corner, expect a lot of subsidies on fuel prices. This is bound to worsen India's fiscal deficit further.

It would be interesting to see how this pans out. Meanwhile, we will keep you updated on all the developments from this space.

India Reports 9.7 Lakh New Job Creations in Sep 2018

In the news from the macroeconomic space, as per the latest report by Employment Provident Fund Organisation (EPFO), India reported over 2-fold jump at 9.7 lakh new job creations in the month of September 2018. This compares with 4.1 lakh jobs in the corresponding month last year.

The data also showed that around 79.5 lakh new subscribers were added to social security schemes of the EPFO from September 2017 to September 2018. This indicates that these many jobs were created in the last 13 months.

As per the report, the maximum jobs were created in the age bracket of 18-21 and in this bracket the top 10 sectors which have created more fresh jobs include Expert Services, Trading in Commercial Establishments, Electric Engineering Products, Construction Industry, Engineering, Marketing Servicing, Textiles, Garments making, Cleaning and Sweeping Services and Hospitals.

In the similar age bracket, Maharashtra was the first among the States to create maximum payroll, followed by Tamil Nadu, Karnataka, Gujarat, and Haryana.

Note that, a critical factor in the upcoming elections could be the jobless population of India. Governments, past and present, have continued to face challenges on the employment front.

The upheaval in the unorganised sector has a lot to do with the increase in unemployment. Here's an excerpt of what Tanushree Banerjee, Co-head of Research at Equitymaster wrote about unemployment in The 5 Minute WrapUp:

• Post GST and Notebandi, there has been a gradual shift from the unorganised to the organised sector. However, a majority of India's workforce is employed in the unorganised sector and they have been badly hit.
  
  The movement of this workforce in the organised sector has been slow. A big reason has been the lack of skilled employees.
  
  India faces a severe shortage of skilled workers who are in high demand in the organised sector. The challenge for the government will be to improve quality and quantity of the skilled workforce in the country.
  
  With the general elections due in May next year, this is easier said than done.

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