Sensex Trades 100 Points Lower; Tata Motors Hits 6-Month High

Wed, 10 Apr 12:30 pm

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Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the finance sector and consumer durable sector witnessing selling pressure while realty stocks and healthcare stocks are witnessing buying interest.

The BSE Sensex is trading down by 94 points (down 0.2%), while the NSE Nifty is trading down by 19 points (down 0.2%). The BSE Mid Cap index is trading up by 0.1%, while the BSE Small Cap index is trading up by 0.4%.

The rupee is currently trading at Rs 69.18 against the US$.

With the elections fast approaching, what can market participants look forward to now?

Note that stock markets have remained volatile in the pre-election period.

It has certainly turned out that way again.

Good Times Ahead for Indian Stock Markets?

It started with the long-term capital gains tax.

Then corporate governance issues at various companies followed.

Then we had the IL&FS impact.

All this has ensured a rough ride for Indian investors.

History of the past few elections paints a rosy picture.

Despite governments changing hands in 2004 and 2014, the Sensex gave returns of 44% and 13% in a year respectively.

Even in 2009, when the same government retained power, Sensex was up by 18% in a year.

So, do you think there are good times ahead for Indian stock markets? We will keep you updated on the developments.

Meanwhile, look out for the stocks that will rise fast when the tide of the market turns up.

In the news from the IT sector, Tata Consultancy Services (TCS) is in advanced talks to settle discrimination suits filed by some former employees in the US.

As per a leading financial daily, lawyers representing TCS, as well as those filing the suit, have made a joint filing with the US District Court, Northern District of California, stating that they are in talks for a settlement.

Reportedly, this could resolve three pending cases and settle a slew of other charges made against the company.

TCS share price is presently trading down by 1.5%.

In other news, Wipro is set to announce its largest share buyback ever. The company has received approval from the markets regulator to buy back shares worth US$ 1.7 billion.

This would be Wipro's third buyback. The company had bought back Rs 25 billion worth of shares in 2016 and Rs 110 billion worth in December 2017.

As per an article in The Economic Times, the shares are expected to be bought back at Rs 320 apiece. Here's an excerpt from the article:

• There was lack of clarity on whether a buyback could be launched while a scheme of amalgamation was pending before the National Company Law Tribunal (NCLT). The latter is looking at Wipro's proposal to merge four subsidiaries - Wipro Technologies Austria, Wipro Information Technology Austria, New Logic Technologies SARL and Appirio India Cloud Solutions - with itself.
  
  Wipro argued that there could be delay in the NCLT process because of a backlog of cases. The company said its shareholders expect a buyback because it is an integral part of its approach to returning surplus cash to them and they would have planned their investments accordingly.

Wipro share price is presently trading up by 2.7%.

Moving on to the news from the automobiles sector, Tata Motors share price is witnessing buying interest today on expectations of margin expansion due to an improvement in Jaguar Land Rover (JLR) businesses.

Shares of the company are trading at their highest level since October 2018. In the past three weeks, shares of the company have rallied 25%.

Last month, the company's wholly owned subsidiary JLR said it expects improved financial results for the quarter ended March 2019 (Q4FY19). JLR is also planning to launch its electrified products in India.

In line with Jaguar Land Rover's global commitment to introduce electrified options on its entire product portfolio by 2020, Jaguar Land Rover India proposes to offer multiple products, ranging from Hybrid vehicles to Battery Electric Vehicles (BEV) over the next few years, starting from 2019.

Reports state that towards the end of 2019, Jaguar Land Rover will introduce its first Hybrid Vehicles from Land Rover. In second half of 2020, Jaguar Land Rover India plans to launch its first Battery Electric Vehicle, the Jaguar I-PACE.

Last week, Tata Motors reported 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.

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

Speaking of automobiles sector, 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.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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