Indian Indices Trade Lower; M&M and Tata Steel Fall 5%

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Share markets in India are presently trading on a negative note amid concerns over the impact of coronavirus on global economy.

Barring telecom stocks, all sectoral indices are trading on a negative note with stocks in the metal sector and automobile sector witnessing most of the selling pressure.

The BSE Sensex is trading down by 170 points while the NSE Nifty is trading down by 63 points.

The BSE Mid Cap index and the BSE Small Cap index are trading down by 0.6% and 0.2%, respectively.

The rupee is trading at 71.29 against the US$.

Speaking of Indian stock markets, in his latest video, Rahul Shah outlines the action you can take if the bull market of 2019 by passed you.

Tune in now...

Market participants are tracking Grasim share price, MRF share price, and Motherson Sumi share price as these companies will announce their December quarter results later today.

In news from the FMCG sector, shares of tobacco manufacturer Godfrey Phillips jumped 4% today after the company reported a 39.2% increase in consolidated net profit at Rs 1,138.9 million in the third quarter ended December 2019 (Q3FY20).

It had posted a net profit of Rs 818.4 million in the same quarter last fiscal.

Total revenue from operations during the quarter stood at Rs 7,972.2 million as compared with Rs 6,793.3 million in the year-ago period.

During Q3FY20, cigarettes, tobacco and related products clocked revenue of Rs 7,022.4 million as compared with Rs 6,194.5 million a year ago.

The company said that its retail and related products had revenue of Rs 933.6 million as against Rs 770.2 million in the third quarter last fiscal.

Godfrey Phillips share price is presently trading up by 4.5%.

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

Moving on to news from the automobile sector, domestic passenger vehicle sales declined 6.2% to 262,714 units in January from 280,091 units in the year-ago month.

According to the data released by the Society of Indian Automobile Manufacturers (SIAM), car sales were down 8.1% at 1,64,793 units as against 1,79,324 units in the year-ago month.

Motorcycle sales last month declined by 15.2% to 8,71,886 units from 10,27,766 units a year earlier.

Total two-wheeler sales in January fell 16.1% to 13,41,005 units as compared to 15,97,528 units in the same month last year.

Sales of commercial vehicles were down 14% to 75,289 units in January. Vehicle sales across categories registered a decline of 13.8% to 17,39,975 units from 20,19,253 units in January 2019.

In other news, shares of Mahindra & Mahindra (M&M) fell over 5% today after the company on Saturday said its net profit plunged 73% year-on-year (YoY) to Rs 3.8 billion in December quarter, due to loss on exceptional and one-off items worth Rs 5.5 billion.

The company had reported a profit of Rs 13.9 billion in the year-ago quarter, which included exceptional gains of Rs 5.2 billion.

Revenue for the quarter fell 6% to Rs 121.2 billion compared with Rs 128.9 billion in the same quarter last year.

Operating profit margin for the quarter rose to 14.8% from 13.2% YoY.

In a BSE filing, the company said that both the domestic auto and tractor industries have shown some signs of trend reversal and has seen moderation in the double-digit degrowth.

M&M share price is presently trading down by 5.4%.

To know more, you can read M&M's Q3FY20 result analysis on our website.

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.

This 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.

We will keep you updated on all the trends shaping up in this space. Stay tuned.

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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