Realty Stocks Lead the Gains

Mon, 21 Mar 01:30 pm

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After opening the day in the green, the Indian indices have continued to trade on a positive note during the post-noon trading session. Sectoral indices are trading firm with stocks from the realty, FMCG, and telecom sectors leading the gains.

The BSE Sensex is trading up 132 points (up 0.5%) and the NSE Nifty is trading up 39 points (up 0.5%). The BSE Mid Cap index is trading up 0.7%, while the BSE Small Cap index is trading up by 0.9%. Gold, per 10 grams, is trading at Rs 28,901 levels. Silver, per kilogram, is trading at Rs 37,590 levels. Crude oil is trading at Rs 2,708 per barrel. The rupee is trading at 66.50 to the US$.

Majority of the stocks in the food & tobacco space are trading on a positive note with Wadala Commodities and Ruchi Soya Industries witnessing maximum buying interest. As per a leading financial daily, FMCG major ITC has said that sales of its instant noodles brand 'Yippee' are recovering and its market share has risen to anywhere between 30-40%.

The company's management, speaking about the present instant noodles market, said that during pre- Maggi controversy, the industry sales were Rs 2.5-3 billion per month. It stated that the industry sales tanked to 5-10% after the controversy broke, but now has recovered to nearly 50% of the original industry sales.

For the above developments, the company had to run big campaigns to bring back confidence. While the management is encouraged by the recovery, it is still far from complete recovery to pre-crisis sales.

On a separate note, ITC will gradually expand its foray into the dairy sector rationally. One shall note that the company has entered the dairy segment with ghee in the southern market and is looking to introduce more products in the segment in the future including chocolates.

ITC Ltd is one of India's foremost private sector companies. The company operates through four segments viz., fast moving consumer goods (FMCG), hotels, paperboards, paper and packaging, and agri-business. Presently, its stock is trading up by 1.9%.

Mining stocks are trading on a positive note with MMTC and MOIL leading the gains. In another news update, Coal India Ltd (CIL) has supplied 370.8 million tonnes (MT) of fuel to the power sector during April-February period of this fiscal. This is higher by 6.4% than that in the same period last year.

Also, the dispatches by CIL in February increased by 1.8% to 33.92 MT compared to 33.33 MT in the same month of 2015.

It was reported that coal dispatched rose on the back of increase in CIL's production and improvement in evacuation of the dry fuel.

One shall note that Coal India has achieved 9.2% increase in production this year so far, against an average of 3% growth over the last five years. Further, out of the government's targeted coal production of 1.5 billion tonnes by 2020, Coal India is looking at an output target of one billion tonnes.

Coal India Ltd is a 'Maharatna' Public Sector Undertaking (PSU) under Ministry of Coal, Government of India. The company is the largest coal producing company in the world based on its raw coal production. Also, it is the largest coal reserve holder in the world based on its reserve base. We believe that the company remains committed to strong volume growth. As we had stated in our result analysis report of the company (subscription required), 'Globally coal prices continue to remain under pressure. However, with the rising output, the company can sell more coal through the more profitable e-auction route. In 3QFY16, the company's e-auction quantity increased from 14.7 million tons in 2QFY16 to 15.1 million tons with improving realizations by 4.4% QoQ basis.'

Presently the stock of the company is trading down by 0.6%.

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