Electric Vehicle Launches in 2021, Bandhan Bank Q3FY21 Growth, and Buzzing Stocks Today

Fri, 8 Jan Pre-Open

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Indian share markets ended marginally lower yesterday.

At the closing bell yesterday, the BSE Sensex stood lower by 80 points (down 0.2%).

The NSE Nifty ended down by 9 points (down 0.1%).

Tata Steel and Hindalco were among the top gainers.

Nestle, on the other hand, was among the top losers.

The BSE Mid Cap index ended up by 1.1%. The BSE Small Cap index ended higher by 0.9%.

Sectoral indices ended on a mixed note with stocks in the FMCG sector and IT sector witnessing selling pressure.

Metal stocks, on the other hand, witnessed buying interest.

Gold prices for the latest contract on MCX were trading up by 0.5% at Rs 50,748 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, in his latest video for Fast Profits Daily, Vijay Bhambwani talks about the recently concluded OPEC plus meeting which ended inconclusively.

As per Vijay, this will have an impact on the stock market as well as the commodity market.

If you're not convinced about the bulls getting nervous, watch the below video to know about a reason that you may not have heard about from the mainstream media.

Top Stocks in Focus Today

Among the buzzing stocks today will be IDFC First Bank.

IDFC First Bank said its credit growth rose a marginal 0.7% to Rs 1,100 billion during the quarter ended December.

The private sector lender had outstanding loans of Rs 1,090 billion as of December 31, 2019, and on a quarterly basis, the loan growth was 3% higher from Rs 1,060 billion as on September 30, 2020, IDFC First Bank said in a regulatory filing.During the quarter, the bank's CASA (current account savings account) ratio rose to around 44.6%, compared with 20.9% as of December 31, 2019.

Sobha share price will also be in focus today as the company has said that it achieved the best ever quarterly sales volume in the December quarter without any major launch during the quarter.

Bengaluru contributed 69% of the total sales volume, along with meaningful contributions from other regions, especially Gurugram, Kerala and Pune.

Sales volume achieved by Kochi and Thrissur regions during the first nine months of FY21 has already surpassed the sales volume achieved during FY20. Gurugram and Pune regions are also poised to surpass the sales volume achieved during FY20.

Bandhan Bank Loans and Advances Grow by 23% YoY in Q3FY21

In news from the banking sector...

Private lender Bandhan Bank said its loans and advances grew by 23% year-on-year (YoY) to Rs 802.6 billion during the third quarter of the current fiscal.

The advances were at Rs 654.6 billion in the year-ago period.

Total deposits during the quarter increased by 30% to Rs 711.9 billion as against Rs 549.1 billion in the corresponding period last year.

CASA (current account, savings account) deposits of the Kolkata-headquartered bank during the third quarter of the current financial year grew by 62% YoY to Rs 305 billion.

How these numbers show up in the coming quarters remains to be seen. Meanwhile, we will keep you updated on all the developments from this space. Stay tuned.

Automakers Plan Big Electric Vehicle Launches in 2021 in Indian Market

In news from the automobile sector, as per an article in The Economic Times, the year 2021 is set to be the busiest yet in terms of new electric vehicle (EV) launches in the Indian market as normalcy slowly returns since the disruption caused by the pandemic and automakers gear up for their electric vehicle debut.

At the top of the line will be at least five high-end EVs like the Tesla Model 3, Porsche Taycan, Audi e-tron, Jaguar Land Rover I-pace and Volvo XC40 Recharge. These would be well complemented by the mainstream market by M&M's e-KUV 100 and Tata Motors' Altroz EV.

The article stated that Bajaj Auto will make its electric three-wheeler debut and M&M will create an electric quadricycle category in India.

Here's an excerpt from the article:

• All these companies have been analyzing the market for quite some time now and feel that customer acceptance now is reaching the point for them to start rolling out their EV products.
  
  Some of these launches were delayed in 2020 as automakers put their EV plans on the backburner to conserve cash and focus on core operations during the crisis caused by the pandemic. But with business now slowly returning to normal, they are going ahead with their plans.

A Tata Motors spokesperson said that their EV business plan is well on track and they are the market leader with 67% market share during Q2FY21.

On the three wheeler front, EVs have been making an economic case for some time now for commercial use given their low cost of running.

While Mahindra Electric and a clutch of other manufacturers have been making e-richshaws, Bajaj Auto is also set to enter this space.

Auto majors like Suzuki-Toyota, Tata Chemicals have already expressed intent of localizing lithium ion cells in India and the global major LG Chem has been actively considering the possibility of setting up a large lithium ion factory in India.

On the infrastructure front, state-run Energy Efficient Services (EESL) has set itself a target of setting up 10,000 charging stations in the coming years.

The government had floated the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) scheme in April 2019 with a financial outlay of Rs 100 billion to promote EVs.

We will keep you posted on more updates from this space. Stay tuned.

And 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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