Sensex Trades Marginally Lower; Asian Paints & Tata Steel Top Losers

Tue, 21 Jan 12:30 pm

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Share markets in India are presently trading on a negative note. The BSE Sensex is trading down by 106 points while the NSE Nifty is trading down by 25 points.

The BSE MidCap index is trading down by 0.1%, while the BSE SmallCap index is trading up by 0.2%.

Sectoral indices are trading on a mixed note with stocks in the realty sector and metal sector witnessing selling pressure, while telecom stocks are trading in green.

The rupee is trading at 71.18 against the US$.

Speaking of stock markets in general, in a recent edition of The 5 Minute WrapUp, Tanushree has shared Vijay's popular video on safe investments for 2020.

You can check the same here: Your Safe Income Options for 2020

In news from the banking sector, Kotak Mahindra Bank on Monday posted a 6.3% rise in consolidated profit before tax (PBT) at Rs 29.1 billion for the quarter ended December 2019 (Q3FY20), from Rs 27.2 billion in the year-ago quarter.

Reportedly, the profit got impacted because of a one-time pension related charge of around Rs 2 billion and higher provisioning and contingencies, which went up to Rs 4.7 billion.

The bank's net profit rose 27.4% to Rs 23.5 billion in Q3FY20, as against Rs 18.2 billion a year ago. On a standalone basis, PBT came in at Rs 19.4 billion, down 1.4% year-on-year (YoY).

The private lender's credit grew at 10%, YoY.

The bank's joint managing director, Dipak Gupta, said, "when the nominal growth of the economy is not high enough, credit cannot grow because it is a function of the nominal growth rate." He added that the lendable set of entities has shrunk.

The lender's net interest income on a standalone basis increased 17% to Rs 34.3 billion. Net interest margin for the quarter was at 4.7%, from 4.3% in the year-ago quarter.

Overall deposits grew 15% and the share of current and savings accounts (CASA) stood at 53.7% at the end of the quarter, up 300 basis points from the December 2018 quarter.

Kotak Mahindra Bank share price is presently trading down by 0.8%.

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

Moving on to news from the automobile sector, Tata Motors share price is in focus today.

The company's wholly owned subsidiary - Jaguar Land Rover (JLR) is developing a pioneering shape-shifting system designed to improve customer wellbeing by tackling the health risks of sitting down for too long.

In other news, as per an article in a leading financial daily, Society of Indian Automobile Manufacturers (SIAM), the apex body representing all major vehicle and vehicular engine manufacturers in the country, is bullish on the revival of the automobile industry in 2020.

SIAM's deputy director told reporters that this is the worst downturn of the auto industry in the last 20 years.

He added that the year 2020 will be the year of revival of the Indian automobile industry. Sales are expected to go up as penetration of automobiles in India is very low.

On the upcoming Auto Expo to be held in Greater Noida from February 7 to 12, he said new players like Chinese automobile manufacturers Great Wall and Haima will showcase their products for the first time in the exhibition.

It will be interesting to see how all this pans out. Stay tuned for more updates from this space.

Speaking of the automobile sector, note that India's automobile industry is bracing itself for a unique challenge in the first quarter of 2020 when the transition of BS-IV to BS-VI emission norms has to be made at the stroke of midnight on 31 March 2020.

No BS-IV vehicle could be sold from 1 April 2020, which means automakers would have to reduce their inventory on BS-IV models to zero by then.

The exercise is likely to see companies show extra caution in dispatching cars to dealers in the next few months, which may cause a continuation of the decline in wholesale numbers.

However, despite the slowdown in the auto sector, the sales volume of electric vehicles (EVs) are growing at a robust pace.

Sale of Electric Vehicles in India Projected to Go Up 10x in the Next Two Decades

Electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

The recently announced government incentives will give a further boost to EV sales.

The coming one year will be a real test for India's auto companies.

It will also tell us if this slowdown is temporary or if there has been a structural change in the sector.

In our view, companies in the sector adapting their business models to the rapidly changing environment will survive and thrive.

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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Indian Share Market Update: Top Gainers and Losers