Sensex Opens Flat; Realty and Automobile Stocks Gain

Tue, 2 Apr 09:30 am

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Asian stock markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.3% while the Hang Seng is up 0.1%. The Shanghai Composite is trading up by 0.3%. The US stocks rallied on Monday, starting off the second quarter on a strong note, as upbeat manufacturing numbers from China and the US worries about slowing global growth.

Back home, India share markets opened on a flat note. The BSE Sensex is trading up by 27 points while the NSE Nifty is trading up by 4 points. Both, the BSE Mid Cap index and BSE Small Cap index opened up by 0.1%.

Sectoral indices have opened the day on a mixed note with realty stocks and automobile stocks leading the pack of gainers. Metal stocks and banking stocks have opened the day in red.

The rupee is currently trading at 69.35 against the US$.

In the news from the automobile sector. In the latest development, Tata Motors reported a 1% decline in total sales at 68,709 units in March as compared to 69,409 units in the same month last year.

The company's passenger vehicle sales in the domestic market declined by 12% to 17,810 units last month, compared with 20,266 units in March 2018.

The company said its commercial vehicle (CV) sales in the domestic market stood at 50,917 units in March, up 4% from 49,174 units in the same month last year.

Total exports during the month stood at 5,952 units, a dip of 11% as compared with the same period of last year due to new regulations and political uncertainty in Sri Lanka and slump in the Middle East affecting the overall Industry volumes in these markets, the company stated.

For FY19, Tata Motors reported sales of 6,78,486 units, a growth of 16% over 5,86,507 units in FY18.

Meanwhile, Hero MotoCorp on Monday reported its sales of 581,279 units in March 2019.

The company sold 7,820,745 units of motorcycles and scooters during FY19 while continuing to further strengthen its market leadership.

According to the company, the sales during the month of March have been lower due to a conscious effort to bring down the inventory levels in the system.

Speaking of automobiles sector, all the components of BSE Auto index have fallen in 2018. Tata Motors have crashed over 60% and Motherson Sumi Systems have plunged over 40% in past one year. While, Bharat Forge, Ashok Leyland and Maruti Suzuki fell over 30% during the same period.

But, one thing we must keep in mind is that not all auto companies will make money over time. And also, you shouldn't stay away from auto stocks altogether.

Even Tanushree Banerjee, Co-head of research at Equitymaster believes that there are businesses in this sector that you cannot ignore. She is particularly talking about the blue-chip auto stocks.

Here's Tanushree:

• One out of every three household in India is a buyer of their products. They own some of the cult brands in Indian automobile space. They have formidable R&D teams. They have been through several economic cycles over decades. Few have even visited near-bankruptcy in the past and come out successful.
  
  Yet, some of the biggest passenger car, commercial vehicle, and two-wheeler companies in India have seen a huge dent in valuations in recent times.
  
  This could be the opportunity long term investors were waiting for.

Bluechip Auto Are Stocks Way Off Their Valuation Peaks

Tata Motors share price opened down by 0.4%, while Hero MotoCorp share price opened up by 0.7%.

Moving on to the news from pharma sector. As per an article in a leading financial daily, Cipla has signed a binding agreement with Pulmatrix Inc for co-development and licensing opportunity for a new drug under development for an upfront consideration of US$22 million.

The agreement has been signed between the company's wholly-owned subsidiary in the US, Cipla Technologies LLC with Pulmatrix Inc for an investment in phase 2 ready Pulmazole (inhaled ltraconazole).

Pulmazole is an inhaled anti-fungal formulation of itraconazole aimed at treating allergic bronchopulmonary aspergillosis (ABPA) in asthma patients.

Reportedly, entry into a definitive agreement is contingent upon Pulmatrix raising additional funds from the market.

Upon signing the definitive agreement, the co-development cost towards development and the total free cash flow in relation to commercialisation of Pulmazole will be further shared by both the parties in a phased manner, the reports noted.

Cipla share price opened the day on a flat note.

To know more about the company, you can access to Cipla's Q3FY19 result analysis and Cipla's Stock Analysis on our website.

And 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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