Sensex Falls 200 Points; Kotak Mahindra Bank & IndusInd Bank Top Losers

Thu, 13 Feb 12:30 pm

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Share markets in India are presently trading on a negative note tracking weak global markets.

Sectoral indices are trading mixed with stocks in the metal sector, realty sector and banking sector witnessing selling pressure, while consumer durable stocks are witnessing buying interest.

The BSE Sensex is trading down by 197 points (down 0.5%), while the NSE Nifty is trading down by 57 points (down 0.5%).

The BSE Mid Cap index is trading down by 0.3%, while the BSE Small Cap index is trading down by 0.1%.

The rupee is currently trading at Rs 71.46 against the US$.

Speaking of Indian stock markets, in his latest video, Rahul Shah outlines the action you can take if the bull market of 2019 by passed you.

Tune in now...

Market participants are tracking Nestle share price, Atul Auto share price, and Gillette share price as these companies will announce their December quarter results later today.

In news from the engineering sector, Bharat Heavy Electricals (BHEL) has signed a memorandum of understanding (MoU) with Rosoboronexport, Russia.

The aim of this MoU is to cooperate and undertake joint projects and operations for defence systems. This will help in leveraging BHEL's capabilities in the defence sector in association with Russian OEMs under the 'Make in India' initiative and offer indigenous support and solutions to the Indian defence forces.

Earlier this week, the company reported 17.2% YoY drop in consolidated net profit at Rs 1,626.7 million as compared to Rs 1,964.8 million reported in the same period last year.

Sales of the company declined 23.3% to Rs 54.6 billion. Total expenditure declined to Rs 56.1 billion in Q3FY20 over Rs 72.9 billion in Q3FY19.

BHEL share price is presently trading up by 1.1%.

To know more, you can read BHEL's latest result analysis on our website.

Moving on to news from the railways sector, Indian Railway Catering & Tourism Corporation (IRCTC) on Wednesday posted a 179.7% year-on-year (YoY) rise in profit at Rs 2,058 million for the quarter ended December 31. The figure stood at Rs 735.9 million in the corresponding quarter last year.

Revenue from operation increased 64.6% to Rs 7,159.8 million in Q3FY20.

EBITDA margin expanded sharply to 37.1% in Q3FY20, from 22.7% in Q3FY19 and 27.8% in Q2FY20.

The company also declared an interim dividend of Rs 10 per equity share.

IRCTC share price is presently trading up by 8%.

In other news, Indian railways is planning to offer as many as 500 trains to private operators over the next five years.

As per reports, Indian railways is already in the process of finalizing the bidding document for 150 such trains that will be run by private operators in the first phase. This will be followed by 350 additional trains which will also be run by private operators.

In a first, as many as 150 modern trains will be run by private operators across 100 routes, offering world-class technology and services to passengers, along with improving punctuality.

A discussion paper issued last month by the government's policy think tank NITI Aayog and the railway ministry has forecast an investment of about Rs 225 billion to run these trains.

Last month, it was reported that the government's move attracted two dozen firms, including global majors Alstom Transport, Bombardier, Siemens AG and Macquarie and domestic companies such as Adani Ports and IRCTC.

Speaking of the railways sector, here's what Tanushree Banerjee wrote about Indian railways in one of the recent editions of The 5 Minute WrapUp...

• Investment in Indian railways has always been lacking in the past. This has meant a stretched infrastructure with more than 60% of routes being over utilised.
  
  The poor image of Indian railways meant a price hike was never an option for the government.
  
  All this has changed in the recent years.
  
  Since 2014, investment in the Indian railways has increased at a rapid pace.

This is evident in the chart below...

Massive Reforms Underway in the Indian Railways

The government's aim to modernize more than 100 stations to world class standards and by provide amenities like wi-fi, quality food and beverage services will improve passenger experience.

Improved services will also help the government justify fare increases in the future.

Tanushree believes such reforms are the need of the hour for the Indian economy.

In one of her recent articles, she wrote about a safe stock for the next decade.

It's the StockSelect recommendation for this month and Tanushree believes it can be one of the best performers in the next decade.

If you've subscribed to StockSelect, here's the link to the report.

If you're aren't a member, sign up for StockSelect here.

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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