Sensex Trades in Green; Tata Motors Top Gainer

Fri, 3 May 12:30 pm

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Stock markets in India are presently trading on a positive note. The BSE Sensex is trading up by 112 points and the NSE Nifty is trading up by 21 points. Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading down by 0.3% and 0.1% respectively.

Among the sectoral indices, IT stocks and healthcare stocks are witnessing selling pressure, while telecom stocks and realty stocks are leading the pack of gainers.

In the news from the economy. The Finance Ministry in its monthly economic report for March has said that Indian economy slowed down slightly in the FY19, though it is still fastest growing major economy.

The proximate factors responsible for this slowdown include declining growth of private consumption, tepid increase in fixed investment, and muted exports. It further said that there is slowdown of growth in agriculture and sustained growth in industry as well as some challenges.

The Ministry said, the consumer and wholesale price indices declined in FY19, though inflation has firmed up slightly in recent months.

The current account deficit, as percentage of the GDP, improved in Q3 and is set to further improve in Q4 of FY19 as the dip in imports has improved the merchandise trade deficit.

In line with declining real GDP growth, private consumption in Q4 of FY19 has also declined as reflected in the drop of growth of two-wheeler sales towards the end of the year.

On the external front, the report said that the current account deficit as ratio to GDP is set to fall in Q4 of FY19, which will limit the leakage of growth impulse from the economy.

The monthly report said the fiscal deficit of the Central government has been gliding down to the FRBM target. Monetary policy has attempted to provide a fillip to the growth impulse through cuts in repo rate and easing of bank liquidity.

The room for this monetary easing has been created by low inflation in FY19, although it has started to inch up in last few months of the year.

The real effective exchange rate has appreciated in Q4 of FY19 and could pose challenges to the revival of exports in the near future. Increase in foreign exchange reserves in Q4 of 2018-19 on account of improvement in trade balance has increased the import cover for the economy.

It also pointed out that while Gross Fiscal Deficit of the Centre has steadily declined in last few years, capital expenditure has been volatile.

Will the Deficit Continue Declining?

One way of gauging the government's financial health is by looking at the fiscal deficit as a percentage of GDP.

It has been in line with the government's stated aim of bringing the fiscal deficit down. Now, how this pans out going forward remains to be seen.

Moving on to the news from the . Tata Power reported a net profit of Rs 0.5 billion for the quarter under review against net loss of Rs 39.4 billion for the same quarter in the previous year.

Total income of the company increased by 7.4% at Rs 22.7 billion for Q4FY19 as compared Rs 21.1 billion for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 92.1% in its net profit at Rs 1.1 billion for the quarter under review as compared to Rs 13.6 billion for the same quarter in the previous year.

However, total income of the company increased marginally by 1.9% at Rs 74.2 billion for Q4FY19 as compared Rs 72.8 billion for the corresponding quarter previous year.

For the year ended March 2019, the company has reported a net profit of Rs 17.1 billion against net loss of Rs 31.5 billion for the previous year. Total income of the company decreased marginally by 0.2% at Rs 84.5 billion for year under review as compared to Rs 84.7 billion for year ended March 2018.

For the year ended March 2019, on the consolidated basis, the company has reported a fall of 6.5% in its net profit at Rs 24.4 billion as compared to Rs 26.1 billion for the previous year.

However, total income of the company increased by 9.8% at Rs 299.5 billion for year under review as compared to Rs 272.7 billion for year ended March 2018.

At the time of writing, Tata Power share price was trading up by 0.2%.

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