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Telecom Stocks Lead the Losses
Tue, 1 Dec 01:30 pm

Indian Indices are presently trading on a positive note. Sectoral indices are trading on a mixed note with stocks from the metal and energy sectors leading the gains. Telecom stocks are however trading in the red.

The BSE-Sensex is trading up 29 points (up 0.1%) and the NSE-Nifty is trading up 14 points (up 0.2%). The BSE Mid Cap index is trading up 0.4% while the BSE Small Cap index is trading up by 0.3%. Gold prices, per 10 grams, are trading at Rs 25,210 levels. Silver price, per kilogram is trading at Rs 33,650 levels. The rupee is trading at 66.54 to the US$.

Automobile stocks are trading on a negative note with Eicher Motors and Escorts bearing the maximum brunt. As per a leading financial daily, Maruti Suzuki has reported 9.7% YoY rise in its total sales volumes during the month of November. It recorded a sales of 1,20,824 units during the month as against 1,10,147 units in the same period last year.

The company stated that its domestic sales increased by 10.6% during the month to 1,10,599 units. Sales of mini segment cars, including Alto and WagonR, declined by 4.7% to 35,981 units. Sales of the compact car segment comprising Swift, Estilo, Ritz, Dzire and recently launched Baleno increased by 19.5% to 44,626 units during the period. Furthermore, sales of utility vehicles, including Gypsy, Grand Vitara, Ertiga and S-Cross rose by 57.5% at 8,688 units.

Maruti Suzuki is India's largest passenger car company. It accounts for over 50% of the domestic car market. Presently its stock is trading down by 0.2%.

Stocks in the consumer products segment are trading mixed with Hindustan Unilever and Lakshmi Overseas Industries leading the gains. Pidilite Industries has acquired 'Chemifix' trademark and other brands associated with PVAC adhesives business from Sri-Lanka based CIC Holdings PLC. Moreover, Pidilite Lanka Pvt Ltd (PLPL), a step down subsidiary of the company has also acquired the commercial and technical knowhow relating to PVAC Adhesive business from CIC holdings.

Pidilite International Pte Ltd and Pidilite Middle East, wholly owned subsidiaries of the company, hold 76% of the paid up capital in PLPL. CIC Holdings PLC is a large conglomerate in Sri Lanka and in involved in many segments in Sri Lanka such as chemicals, fertilizers, pharmaceuticals, agri chemical, food products etc.

Pidilite is the market leader in adhesives and sealants, construction chemicals, hobby colours and polymer emulsions in India. Its adhesives brand Fevicol is the largest selling adhesives brand in Asia. The company, in its results for quarter ending September 2015 has reported 38% YoY increase in its consolidated net profit. Total income during the period grew 5% on a YoY basis.

Presently the stock of Pidilite Industries is trading down by nearly 0.4%.

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Nov 22, 2017 10:59 AM