Of RBI Monetary Policy, Cement Demand in FY18, and Other Top Cues in Focus Today

Wed, 6 Dec Pre-Open

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Indian share markets witnessed volatile trades yesterday and finished their session marginally lower.

At the closing bell yesterday, the BSE Sensex closed lower by 67 points and the NSE Nifty finished lower by 10 points. The S&P BSE Mid Cap finished up by 0.6% while S&P BSE Small Cap finished flat. Losses were largely seen in metal sector, capital goods sector and power sector.

Top Stocks in Focus Today

Coal India share price will be in focus today. This comes as the company yesterday said its coal supply to power plants increased by 9.2% to 290.59 million tonnes (MTs) in the first eight months of the current fiscal, driven by high loading of rakes. The state run miner, which was beaten down for a long time is slowly showing signs of revival. We will be sure to keep an eye on the developments on this front.

Reliance Communications share price will be in focus today. This comes as public relation firm Fortuna Public Relations has approached Mumbai bench of National Company Law Tribunal (NCLT) against Anil Ambani-run Reliance Communications for insolvency proceedings, alleging the telecom operator failed to its pay dues. The NCLT plans to hear this case on December 19.

From the auto ancillary space, market participants will be tracking Bharat Forge share price. The stock of the company witnessed buying interest in yesterday's trade after it was reported that strong trend continued in North America class 8 truck orders in November. The company's North America class 8 truck orders for the November month were at 32,387 units, representing a massive growth of 68% over 19,285 units reported a year-ago.

Monetary Policy in Focus

Market participants will be closely tracking the developments to be announced in the monetary policy today.

The consensus is that the Reserve Bank of India (RBI) would keep the interest rates unchanged.

There are many reasons to believe so. One, the retail inflation has inched upwards, from 3.28% in September to 3.58% in October. Second, commodity and crude oil prices have witnessed a sharp rise. From the lows of 30 dollars in 2016, crude prices have now risen to 64 dollars. Lastly, there are concerns regarding the growing fiscal deficit. The government has already spent 96% of the budgeted fiscal deficit. Any spurt in the government expenditure could possibly breach the 3.2% fiscal deficit budgeted for the year.

What course the RBI take will be known today. We'll keep you updated on the developments in this space. Stay tuned.

Cement Demand to Witness Modest Growth

Moving on to the news from the cement sector... Domestic credit rating agency, ICRA in its latest report forecasted that India's cement demand is likely to register a modest growth of 1% in FY18. The increased demand will come on the back of a pick up in the housing segment - both affordable and rural housing and; infrastructure segment, mostly road and irrigation projects.

According to the report, the cement off-take remained weak in the first half of FY18 and also in the month of October, owing to factors such as weak real estate activity, sand shortage and Goods and Services Tax (GST) implementation issues.

Note that while there remain challenges in the medium term, the long-term growth prospects of the cement sector also remain intact on the back of various government initiatives in the infrastructure and housing sector. Rising investment in infrastructure construction sector, improving rural demand, and affordable and low-cost housing will drive the cement demand going forward.

From the IPO Space...

The initial public offer (IPO) of hospital chain, Shalby Ltd will be in focus today.

The IPO of the company was subscribed 4% yesterday - its first day of the share sale.

Shalby, which runs a multi-specialty hospital chain, has set a price band of Rs 245-248 per share for the IPO and aims to raise Rs 5 billion. The IPO will close on 7 December.

Should you apply for the IPO of Shalby Ltd? We have released our IPO note on the same. You can access the same in our IPO section.

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

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