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Sensex Zooms 635 Points; Realty and Automobile Stocks Rally
Thu, 9 Jan Closing | Monish Vora, TM Team

Indian share markets continued to trade in the green during closing hours and ended their day on a strong note.

Benchmark indices extended their gains as US President Donald Trump said Iran's missile strikes had not harmed any Americans and that Tehran appeared to be "standing down".

On the sectoral front, gains were largely seen in the realty sector, automobile sector and banking sector.

At the closing bell, the BSE Sensex stood higher by 635 points (up 1.6%) and the NSE Nifty closed higher by 191 points (up 1.6%).

The BSE Mid Cap index ended up by 1.5%, while the BSE Small Cap index ended the day up by 1.6%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng was up 1.7% and the Nikkei stood higher by 2.3%.

The rupee was trading at 71.39 to the US$ at the time of writing.

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As per a leading financial daily, in consultation with the NITI Aayog, the government's policy think-tank, the railway ministry has picked 100 routes to run 150 private passenger trains. As per the news, the bids for the routes are likely to be invited soon.

The 100 routes have been split into 10-12 clusters. According to the plan, the private operator will have the right to collect market-linked fares and will be provided flexibility of class composition and halts. They will also be able to use the rail infrastructure on payment of haulage charges.

According to a recent Economic Times report, the finance ministry's Public Private Partnership Appraisal Committee had given an in-principle nod to the proposal last month, paving the way for the railways to roll out its reform in engaging private operators and ending its long monopoly in running passenger trains.

According to the information memorandum put up on the NITI Aayog website, the reserved passenger volume during 2018-19 was 16% (0.59 billion) of the total originating non-suburban passengers (3.65 billion). Almost 88.5 million of wait-listed passengers could not be accommodated.

The memorandum says there is, hence, a critical requirement to introduce private operations in passenger train which will allow introduction of next generation technology and provision of higher service quality, ensuring use of improved coach technology and reduced journey time.

The railways' experimentation with private participation in running of trains started last year when it allowed its subsidiary - the Indian Railway Catering and Tourism Corporation (IRCTC) to run the Tejas Express on the Lucknow-Delhi route.

According to the news reports, the train posted a profit of Rs 7 million in its first month of operation and had run with an average occupancy of 80-85% since it began operations on October 5.

We think the above development is a step in the right direction.

Here's what Tanushree Banerjee wrote about this in today's edition 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

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.

In the news from the telecom sector, MTNL share price was in focus today after the company said that it has received shareholders' approval for raising up to Rs 65 billion through issuance of non-convertible debentures as well as for monetization of land and buildings.

During the extraordinary general meeting of Mahanagar Telephone Nigam Ltd (MTNL) which was held on Wednesday, 99.89 votes were cast in favour of the issuance of "guaranteed, unsecured, listed, redeemable non-convertible debentures in the nature of bonds (NCDs), in one or more series/tranches, aggregating up to Rs 65 billion on private placement basis.

The company further said that majority votes were cast in favour of the monetization of land and buildings as specified/ identified by its board in line with the Department of Investment and Public Asset Management (DIPAM) guidelines and as per revival plan of the company approved by the Union Cabinet recently.

It added that majority votes were polled in favour of monetization of towers and fiber assets including leasing, after considering the market conditions with an aim to maximize returns as per the revival plan of the company, and non-convertible redeemable non-cumulative preference shares on a private placement basis to the government towards payment of 4G spectrum cost.

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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Stock Market Updates

AIA ENGINEERING Surges by 11%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Feb 27, 2020 02:30 PM

AIA ENGINEERING share price has surged by 11% and its current market price is Rs 1,929. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index is AIA ENGINEERING (up 10.8%). The top losers are SIEMENS (down 0.2%) and ABB INDIA (down 0.4%).

GRAPHITE INDIA Plunges by 5%; BSE CAPITAL GOODS Index Down 0.7% (Today's Market)

Feb 27, 2020 02:20 PM

GRAPHITE INDIA share price has plunged by 5% and its current market price is Rs 255. The BSE CAPITAL GOODS is down by 0.7%. The top gainers in the BSE CAPITAL GOODS Index are ELGI EQUIPMENTS (up 4.1%) and AIA ENGINEERING (up 2.3%). The top losers is GRAPHITE INDIA (down 5.1%).

TUBE INVESTMENTS OF INDIA LTD at All Time High; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Feb 27, 2020 01:22 PM

TUBE INVESTMENTS OF INDIA LTD share price has hit an all time high at Rs 577 (up 4.7%). The BSE CAPITAL GOODS Index is down by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are TUBE INVESTMENTS OF INDIA LTD (up 4.7%) and LAKSHMI MACHINE (up 2.7%). The top losers include ABB INDIA and ELGI EQUIPMENTS .

GULF OIL LUBRICANTS Surges by 13%; BSE OIL & GAS Index Down 1.1% (Today's Market)

Feb 27, 2020 01:12 PM

GULF OIL LUBRICANTS share price has surged by 13% and its current market price is Rs 815. The BSE OIL & GAS is down by 1.1%. The top gainers in the BSE OIL & GAS Index is GULF OIL LUBRICANTS (up 12.7%). The top losers are PETRONET LNG (down 0.2%) and RELIANCE IND. (down 0.7%).

PRESTIGE ESTATES Plunges by 5%; BSE REALTY Index Down 2.5% (Today's Market)

Feb 27, 2020 12:18 PM

PRESTIGE ESTATES share price has plunged by 5% and its current market price is Rs 333. The BSE REALTY is down by 2.5%. The top gainers in the BSE REALTY Index is MAHINDRA LIFESPACE . The top losers is PRESTIGE ESTATES (down 5.1%).

Sensex Opens Over 200 Points Down; Realty and Auto Stocks Under Pressure (Today's Market)

Feb 27, 2020 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 204 points, while the Nifty is trading down by 57 points.

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Feb 27, 2020 02:27 PM

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