Indian Indices Witness Buying, Rising SIP Inflows, and Top Cues in Focus Today

Thu, 30 Jan Pre-Open

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Indian share markets ended their trading session on a positive note yesterday.

Gains were seen in the FMCG sector, metal sector and capital goods sector.

At the closing bell yesterday, the BSE Sensex stood higher by 231 points (up 0.6%) and the NSE Nifty closed higher by 73 points (up 0.6%).

The BSE Mid Cap index ended up by 0.5% and the BSE Small Cap index ended up by 0.1%.

Speaking of the Indian share markets, the Union Budget to be announced this weekend would play a critical role in shaping the investment trend in coming months.

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 days.

Watch now to know more...

Apurva Seth, editor of Breakout Profits (requires subscription), has also written about the budget in a recent edition of Profit Hunter. You can read the same here: Will the Budget Disappoint the Markets?

Top Stocks in Focus Today

From the automobile sector, Maruti Suzuki share price will be in focus today as the automobile company has launched BS-VI compliant Super Carry (Petrol). This will result in price increase in all the variants of Super Carry (Petrol).

The revised Ex-showroom price in Delhi and NCR region shall vary from Rs 4.14 lakh to Rs 4.24 lakh. The same is effective from January 28, 2020.

From the realty sector, Prestige Estates share price will also be in focus today as the company said it is in talks with 2-3 large investors to raise US$ 300-400 million, by monetising some of its retail mall and office assets, before it goes a real estate investment trust (REIT) listing in a year or so.

The company's management said that the fund-raising will help the company in not only reducing its debt levels but the investor partner may acquire a stake in the rental portfolio and then become an anchor investor, when Prestige eventually goes for a REIT.

Reportedly, the company's current net debt stands at around Rs 86.7 billion.

The group's chief executive Venkat K. Narayana confirmed the fund-raising plan and said around 6 million sq ft of retail and commercial office space will be ready in the next ten months.

SIP Inflows on the Rise

The chart below shows the monthly trend in SIP inflows.

SIPs on the rise

As can be seen, in the month of December 2019, SIP inflows into mutual funds hit an all-time high of Rs 8,518 crore.

Here's what Ankit Shah wrote about this in today's edition of The 5 Minute WrapUp...

• AMFI data shows that mutual funds added, on average, 9.55 lakh SIP accounts each month during FY2019-20, with an average SIP size of about Rs 2,850 per SIP account.
• From April to December 2019, there were a total of 85.99 lakh new SIP registrations. Indian mutual funds have currently about 2.98 crore SIP accounts through which investors regularly invest in Indian mutual fund schemes.
• Total SIP AUM (assets under management) has been growing steadily. As on December 2019, the total SIP AUM stood at Rs 3.17 lakh crore.

The big picture Ankit is trying to show is clear.

A lot of money is continuously pouring into the stock markets despite all the bad news about the economy.

In fact, Ankit has also been recommending his Insider subscribers to buy stocks that take advantage of this megatrend (requires subscription).

Bajaj Finance Reports 52% YoY Jump in Net Profit

Bajaj Finance reported a 52% year-on-year (YoY) jump in consolidated net profit for the third quarter ended December 31.

The growth here was driven by strong growth in net interest income and loan growth.

On a consolidated basis, the company reported profit of Rs 16.1 billion in Q3FY20.

New loans booked during the quarter increased by 13% YoY.

Customer franchise increased by 24% YoY to 40.38 million as of 31 December 2019 from 32.57 million as of 31 December 2018.

Assets under management (AUM) of Bajaj Finance grew by 35% YoY to Rs 1,450.9 billion as of 31 December 2019.

Net interest income for Q3FY20 was up by 42% YoY at Rs 45.4 billion.

During the quarter, Bajaj Finance made an accelerated provision of Rs 850 million in its loan against securities portfolio. Adjusted for this, loan losses and provisions (expected credit loss) for Q3FY20 was Rs 7.46 billion.

Gross NPA and Net NPA stood at 1.61% and 0.70% respectively, while the provisioning coverage ratio stood at 57%.

The consolidated results of Bajaj Finance include the results of its wholly owned subsidiaries viz. Bajaj Housing Finance Limited (BHFL) and Bajaj Financial Securities Limited (BFinsec).

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

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Indian Share Market Update: Top Gainers and Losers