Indian Share Markets Open Higher; Realty Stocks Gain the Most

Fri, 5 Apr 09:30 am

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Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.9% and the Nikkei 225 rose 0.3%. The Hang Seng lost 0.2%. The benchmark S&P 500 stock index edged higher, nearing a six-month high on Thursday, with losses in technology stocks countered by gains in Boeing Co and Facebook Inc as investors waited for more clarity on the US-China trade talks.

Back home, India share markets opened on a strong note. The BSE Sensex is trading up by 171 points while the NSE Nifty is trading up by 42 points. Both, the BSE Mid Cap index and BSE Small Cap index opened up by 0.4%.

Except FMCG stocks, all sectoral indices have opened the day in green with realty stocks and consumer durables stocks leading the pack of gainers.

The rupee is currently trading at 69 against the US$.

In the news from the automobiles sector. Maruti Suzuki cut its vehicle production by around 21% across its factories in March due to subdued demand.

Reportedly, the auto major produced a total of 1,36,201 units in March, including Super Carry LCV, down 20.9% from 1,72,195 units in the year-ago period.

The production of passenger vehicles, including Alto, Swift, Dzire and Vitara Brezza, declined by 20.6% to 1,35,236 units as compared with 1,70,328 units in March 2018.

Barring vans, the company reduced production of all other segments including that of its big selling compact and utility segments.

In February, Maruti Suzuki had cut production by over 8% to 1,48,959 units from 1,62,524 units produced in the year-ago period.

In January, the company had reported a total production of 1,83,064 units, up 15.6% from 1,58,396 units produced in January 2018.

Maruti Suzuki's installed manufacturing capacity at its two plants in Gurgaon and Manesar stands at 15.5 lakh units per annum. Besides, the Suzuki-owned Hansalpur (Gujarat) plant also has an installed capacity of 2.5 lakh units from the first line.

The second production line has been commissioned at the plant but is yet to reach its peak capacity of 2.5 lakh units per annum.

Note that, market participants were jolted out of their seats after Maruti Suzuki reported a sharp narrowing of operating profit margin to under 10% in December quarter. The company's weakening sales volume data have given the impression that the company has hit a rough patch. It looks like it will be a rocky road to recovery.

So, is it only Maruti Suzuki or all automobile stocks?

Well, 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

Maruti Suzuki share price opened down by 0.1%.

Moving on to the news from pharma sector. As per an article in a leading financial daily, Cipla has received an establishment inspection report (EIR) from the US health regulator after inspection of its Goa facility.

The United States Food and Drug Administration (USFDA) had inspected the Goa manufacturing facility from 21-28 January 2019, the reports noted.

Thereafter, the company received an EIR, indicating closure of the inspection.

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

Meanwhile, Alembic Pharmaceuticals has received Establishment Inspection Report (EIR) from the USFDA.

It had carried out inspection at its formulation facility at Panelav during the period from 22 October 2018 to 25 October 2018.

Both, Cipla share price and Alembic Pharma share price opened the day up by 0.9%.

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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