Sensex Trades Marginally Higher; Vedanta & Bharti Airtel Top Gainers

Tue, 19 Feb 12:30 pm

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Share markets in India are presently trading marginally higher. Barring IT sector, all sectoral indices are trading in green with stocks in the realty sector and telecom sector witnessing maximum buying interest.

The BSE Sensex is trading up by 136 points (up 0.4%), while the NSE Nifty is trading up by 37 points (up 0.3%). The BSE Mid Cap index is trading up by 0.9% while the BSE Small Cap index is trading up by 0.6%.

The rupee is trading at Rs 71.59 against the US$.

Realty stocks are trading higher today led by Prestige Estates share price, DLF share price and Sunteck Realty share price.

Speaking of realty stocks, note that The BSE Realty index has been volatile in the last five years.

Have a look at the chart below to see the performance:

Volatile Performance of BSE Realty Index in the Last Five Years

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

• In 2017, the BSE Realty index was the best performer with a massive gain of 98%. In the next year, the index was the worst performer with a decline of 31%.
  
  In 2018, the realty sector took a beating on the back of concerns of higher interest rates and accounting changes (from percentage of completion method to completion method). The NBFC crisis added to the woes.
  
  Interestingly, 2018 also witnessed some improvement in real estate sales.
  
  2019 hasn't been good so far with the index down about 3%.
  
  However, the recent budgetary support and interest rate reduction by the RBI could help to revive demand.
  
  Buying the right real estate stock today is the way to go.

He believes, this could be the turning point for the real estate sector.

In the news from the FMCG sector, Emami share price is witnessing buying interest today on reports that the promoters of the company divested 10% stake for Rs 16 billion to reduce debt.

Reportedly, the sale was executed in the stock exchanges on Monday and was sold to SBI Mutual Fund, Premji Invest, Amundi, IDFC, L&T Mutual Fund and others.

The stake sale proceeds will reduce the promoter debt which was used in the creation of assets like cement, solar power, etc.

It is expected that paring debts of the group will help reduce the pledged shares of the promoters in the company with financial institutions.

Earlier, out of their total shareholding, the promoters in Emami Ltd had pledged 47.6% of their stakes to raise capital to fund capital intensive projects like its cement, power and healthcare businesses.

Emami had posted a 6% decline in its net profit for the December quarter at Rs 1.4 billion. Reportedly, the fall in net profit because of rising costs, especially associated with the stockpile of finished goods, stock-in-trade and work in progress.

EBITDA (earnings before interest, taxation, depreciation and amortization) margin contracted 209 basis points (bps) to 32.9% in Q3FY19 over the previous year quarter.

You can read Emami's latest result analysis on our website.

Emami share price is presently trading up by 15%.

Moving on to the news from the automobiles sector, Tata Motors share price is in focus today. The company is exploring partnerships and business models to deliver mobility as a service in the electric mobility business.

The company, which had bagged a tender from Energy Efficient Services (EESL) for the supply of 10,000 electric vehicles (EVs), has been working collaboratively on various electric and hybrid vehicle solutions in the commercial vehicle segment along with a dedicated EV platform for passenger vehicles.

The company is also in discussions with different other companies who have expertise in different spaces, where it can create bilateral win-win opportunities.

In another news, Tata Sons have bought 11.8 million shares of the company last week. Reportedly, the transaction, which is the second one in less than a year, is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive.

Last week, the stock of the company was in focus as Tata Motors reported the biggest ever quarterly loss by an Indian company at Rs 269.6 billion for the third quarter ended December 31.

Most of the losses were seen on the back of asset impairment in its British arm Jaguar Land Rover (JLR).

The auto major said profit was impacted by an exceptional item of asset impairment in its British arm Jaguar Land Rover (JLR) of Rs 278.4 billion (3.1 billion pounds).

Total revenue from operations, however, rose 4.4% to Rs 775.8 billion as compared to Rs 743.4 billion in the year-ago period.

Speaking of automobiles sector, all the components of BSE Auto index have fallen. Tata Motors have crashed over 60% and Motherson Sumi Systems have plunged over 40% in past one year. While, Bharat Forge, Ashok Leyland and Maruti Suzuki fell over 30% during the same period.

But, one thing we must keep in mind is that not all auto companies will make money over time. And also, you shouldn't stay away from auto stocks altogether.

Even Tanushree Banerjee, Co-head of research at Equitymaster, believes that there are businesses in this sector that you cannot ignore. She is particularly talking about the blue-chip auto stocks.

Here's Tanushree...

• One out of every three household in India is a buyer of their products. They own some of the cult brands in Indian automobile space. They have formidable R&D teams. They have been through several economic cycles over decades. Few have even visited near-bankruptcy in the past and come out successful.
  
  Yet, some of the biggest passenger car, commercial vehicle, and two-wheeler companies in India have seen a huge dent in valuations in recent times.
  
  This could be the opportunity long term investors were waiting for.

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

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