Sensex Trades on a Negative Note; FMCG Stocks Witness Selling Pressure

Tue, 21 Feb 01:30 pm

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After opening the day on a flat note, share markets in India witnessed selling activity and are trading on a negative note. Sectoral indices are trading on a mixed note with stocks in the metal sector and stocks in the realty sector trading in green, while stocks in the FMCG sector and stocks in the telecom sector leading the losses.

The BSE Sensex is trading down by 42 points (down 0.2%) and the NSE Nifty is trading down by 16 points (down 0.2%). Meanwhile, the BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 0.4%. The rupee is trading at 66.95 to the US$.

Siemens Ltd share price was trading up by as much as 2% in today's trade as the company announced it won an order worth Rs 2.87 billion.

Electrification and automation company Siemens Ltd and Siemens Rail Automation, Spain, jointly won the order worth Rs 2.87 billion to supply signalling technology for first two metro lines of Nagpur Metro i.e. the North-South and the East-West Corridors.

Out of the total order, Siemens Ltd's share is worth Rs 1.46 billion

The project comprises the deployment and installation of the Siemens communications-based train control (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-car trains.

The CBTC solution can enable headways of 90 seconds or less with precise train detection achieved through digitalized track database; enabling increase in the frequency of trains resulting in efficient commute for passengers.

On the financial front, Siemens' revenue decreased 0.9% to Rs 22.9 billion in Q3FY17 on yearly basis. The company's net profit boosted by 44% to Rs 1,600 million in Q3FY17 as compared to the same period in previous financial year.

Moving on to other news. According to a report by Retailers Association of India and Boston Consulting Group, India's e-commerce market is expected to be at US$ 50-55 billion by 2021 from the current US$ 6-8 billion.

The report revealed that on decoding the digital opportunity sectors that could see maximum e-commerce penetration would be consumer electronics, apparel, homeware and furniture, luxury, health, FMCG and food and grocery.

The report also noted that digital adoption by a user base over 35 years of age is much higher in the past two years alone. E-commerce adoption has increased 3.8 times from 4% to 15% in the over-35 age group between 2014 and 2016.

It is no doubt that India's e-commerce industry has seen a boom in the last 3-5 years. With a lot of startups scrambling to get a chunk of the e-commerce pie. Indian startups raised US$3.5 billion in funding in the first half of 2015. As of December 2015, eight Indian startups belonged to the 'unicorn club' (ventures valued at US$1 billion and upwards).

However, not one of these unicorns have been able to turn profitable and deliver real value.

As my colleague Richa Agarwal pointed out in a recent edition of the 5 Minute WrapUp:

• With the startup fever, a whole new jargon has come into effect. Data integral to a sustainable business - profits, leverage, return on capital, cash flow - have become old fashioned. Fancy metrics like app installations, gross merchandise value, number of users - any creative term that raises the appeal of the startup's growth story - has become the buzzword. The story gets stretched till you're conditioned to believe in the fancy metrics...which are then used to justify high valuations. For startups that can get this far, next comes the public listing. The original investors, who invested in the story, find a decent exit. Thus enters the individual investor, scrambling for a piece of the presumed holy grail...hoping to ride the 'future Infosys or Apple'... Only to realise that he might be stuck with a company that is yet to establish a sustainable business model.

Loss-Making Unicorns

Our big picture expert Vivek Kaul has even gone on to call these e-commerce companies a Ponzi Sceme, with individual investors...perhaps you...stuck at the end.

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