December Quarter Results, Surge in New Demat Account Openings, and Top Cues in Focus Today

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On Thursday, Indian share markets witnessed buying interest during closing hours and ended higher. Benchmark indices snapped three-day losing streak as stock-specific developments, Q3 result reactions, and low crude oil prices dominated investor sentiments.

The BSE Sensex closed higher by 271 points to end the day at 41,386. L&T and M&M were among the top gainers.

While the broader NSE Nifty ended up by 73 points to end at 12,180.

Among BSE sectoral indices, capital goods stocks gained the most, followed by realty stocks and banking stocks.

Speaking of the Indian share markets, earnings and upcoming budget would play a critical role in shaping the investment trend.

In the below video, Tanushree Banerjee tells how you should react to the biggest economic event of the year - the Union Budget which is going to be announced in a few says.

Watch Now...

Q3FY20 Results

From the pharma sector, Alembic Pharma reported its consolidated financial results for the quarter ending December 31, 2019.

The company's revenues for the quarter were up 19% YoY at Rs 12.1 billion as against Rs 10.2 billion in Q3FY19.

Net profit for the quarter was up 33% YoY to Rs 2.3 billion from Rs 1.7 billion last year.

International formulations grew 48% YoY to Rs 6.6 billion in the quarter. US Generics grew 61% to Rs 5.2 billion. Ex-US Sales grew 15% to Rs 1.5 billion in the quarter.

The India formulations business was Rs 3.7 billion for the quarter. The company received 8 ANDA approvals during the quarter and the total tally stood at 110.

To know more about the company, you can read Alembic Pharma's latest result analysis on our website.

From the paints sector, Asian Paints reported 20.1% rise in its net profit at Rs 7.6 billion for the quarter under review as compared to Rs 6.3 billion for the same quarter in the previous year.

Total income of the company increased by 3.1% at Rs 47.5 billion for Q3FY20 as compared Rs 46.1 billion for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 20.5% in its net profit at Rs 7.8 billion for the quarter under review as compared to Rs 6.5 billion for the same quarter in the previous year.

Total income of the company increased by 3.4% at Rs 54.9 billion for Q3FY20 as compared Rs 53.1 billion for the corresponding quarter previous year.

To know more, you can read Asian Paints' latest result analysis on our website.

New Demat Account Openings Hit a 10-Year High

New demat accounts and the total number of such accounts hit a 10-year high in 2019.

While new demat account openings rose 12.5% from the previous year to touch 4.5 million, total demat accounts at the end of 2019 stood at 39.3 million, up from 34.8 million in 2018.

Reports state that policy changes like easier know-your-customer (KYC) norms, greater internet penetration, affordable devices and technology, which enabled easy access to services have increased the financialization of savings.

Mutual funds have also attracted retail investors, with money collected through systematic investment plans (SIPs) showing a growth trend. Total money collected through SIPs was Rs 986.1 billion in 2019.

According to data from the Association of Mutual Funds in India, there are 87.13 million accounts in the mutual fund industry as of December 2019, of which 89.8% is accounted for by retail investors.

There were 78.2 million retail investor accounts, 8.2 million high net worth individuals (HNI) accounts and 0.7 million institutional investor accounts. Since December 2014, there is an increase in investor accounts from 40.3 million to 87.1 million in December 2019.

Assets managed by the Indian mutual fund industry have grown from Rs 24.09 trillion in December 2018 to Rs 27.26 trillion in December 2019, representing a 13.2% growth in assets over December 2018.

Speaking of the mutual fund industry, note that the Indian mutual fund industry is a high growth sector.

In fact, the growth rate over the last five years has been even higher. The chart below shows the trend in mutual fund AUMs since FY14.

Mutual Fund AUM Tripled in Just 5 years

Over the last five years, mutual fund AUMs have nearly tripled, growing at 23.5% CAGR.

Interesting to note that recently, NSE-backed Computer Age Management Services (CAMS) filed a draft red herring prospectus with the market regulator. CAMS is the largest registrar and transfer agent (RTA) for mutual funds in India.

Being the largest registrar and transfer agent for mutual funds, CAMS is a direct beneficiary of the twin megatrends of financialisation and digitalisation.

Ankit is closely tracking this IPO and will be sharing his views at his premium newsletter Equitymaster Insider (requires subscription).

He's also closely watching the IPO trend in 2020 and is going to pick all the profitable IPOs for his readers at Equitymaster Insider. In one of his recent articles, he has explained why keeping a tab on the IPO market is vital to your overall investing goals. You can read it here: What I Learnt from IPOs in 2019 (requires subscription).

Maruti Suzuki Sells 5 Lakh BS-VI Vehicles Ahead of Stricter Norms

Maruti Suzuki India has sold 5 lakh BS-VI vehicles ahead of the implementation of stricter emission norms from 1 April.

The company is now offering ten models with BS-VI compliant petrol engines.

The company introduced its first BS-VI compliant petrol car in April 2019, a full year in advance from the mandatory deadline.

The company's range of BS-VI compliant petrol models includes Alto, Eeco, S-Presso, Celerio, WagonR, Swift, Baleno, Dzire, Ertiga and XL6.

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.

How this development pans out and what effect it will have on the auto sector remains to be seen. Meanwhile, we will keep you updated on all the news from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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