Sensex Trades Marginally Higher; Sun Pharma and HDFC Top Gainers

Tue, 28 Jan 12:30 pm

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Share markets in India are presently trading on a volatile note. Benchmark indices pared early gains amid growing fears about the economic impact from a virus outbreak in China.

Sectoral indices are trading mixed with stocks in the realty sector and finance sector witnessing buying interest, while telecom stocks are witnessing selling pressure.

The BSE Sensex is trading up by 72 points, while the NSE Nifty is trading up by 13 points. The BSE Mid Cap index is trading up by 0.1%, while the BSE Small Cap index is trading up by 0.3%.

The rupee is trading at Rs 71.33 against the US$.

In news from the pharma sector, Wockhardt share price is in focus today. Stock of the company gained over 5% today after the drug firm reported a consolidated net profit of Rs 192.1 million for the December 2019 quarter (Q3FY20).

The company had posted a net loss of Rs 768.6 million for the corresponding period of 2018-19.

Consolidated revenue from operations stood at Rs 8.7 billion for Q3FY20. It was Rs 10.5 billion for the same period year ago.

For the first time in the past 3 years, the company has bounced back into profit owing to marked improvement in operational performance and cost rationalisation, Wockhardt said.

Buying interest was also seen as Cipla and Asian buyout fund PAG are competing with each other to acquire a big chunk of Wockhardt's domestic formulations business for Rs 21-28 billion.

To know more about the company, you can read Wockhardt's Q3FY20 result analysis on our website.

Speaking of pharma sector, in the video below, Tanushree tells us where the sector stands now and also about the potential for a rebound.

Watch Now...

Moving on to news from the railways sector, railways' earnings from passenger fares dipped further by around Rs 4 billion in the third quarter of the current financial year as compared to the last quarter.

However, its revenue from freight loading, which had suffered a Rs 39 billion deficit in the second quarter, improved by about Rs 28 billion during the October to December period.

A reply to an RTI query revealed that in the first quarter of financial year 2019-20, the railways earned a revenue of Rs 134 billion from passenger fare. This dipped to Rs 132.4 billion in the July-September quarter and went down further to Rs 128.4 billion in the third quarter.

In other news, as per an article in The Economic Times, railways minister Piyush Goyal on Monday said that the Indian Railways is expected to switch entirely to electricity by 2024, as it is already shunting diesel locomotives gradually out of service.

Here's an excerpt from the article:

• "By the year 2024, we expect the entire Indian Railways, which is about 125,000 km of track length and nearly 68,000 km of route length, to be 100% run on electricity," Goyal said at the India-Brazil Business Forum.

The Union Minister further said that India is also planning to make the entire railways network a "net-zero emission network" by 2030.

The minister also said India will love to partner with Brazil on a rapid engagement on the railways side and hoped that investments will also grow in the sectors of clean energy, startups, railways and creation of value chains between India and Brazil where goods may be semi assembled in one country and finished in another.

Goyal said both countries have set up a target to take bilateral trade to US$ 15 billion by 2022, from the current US$ 8.3 billion.

Earlier this month, Goyal had said that the railways wants to attract an investment of Rs 50 lakh crore in next 12 years to expand the facilities in passenger and goods trains through modernization. He stressed the need for support of the private sector to accelerate development of the railways.

How all this pans out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Speaking of the railways sector, here's what Tanushree Banerjee wrote about Indian railways in one of the recent editions 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

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.

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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