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Indian share markets remain buoyant
Tue, 5 Jun 01:30 pm

Despite shedding some gains, the Indian share markets continued to remain well above the dotted line in the last two trading hours. Barring FMCG and realty, all the sectoral indices, are trading positive with capital goods and banking stocks clocking the biggest gains.

The BSE-Sensex is trading up 76 points and NSE-Nifty is trading up 27 points. Both BSE Mid cap index and BSE Small cap index are trading up 0.6% and 0.5%, respectively. The rupee is trading at 55.6 to the US dollar.

Majority of the power stocks are trading positive with Reliance Infra and Crompton Greaves being the biggest gainers. As per a leading financial daily, National Thermal Power Corporation (NTPC) has commissioned Unit 3 of the Stage-I 660 MW Super Thermal Power Station at Sipat. This has raised the company's thermal power generating capacity from 38,000 MW to 38,674 MW. NTPC is the largest and the most efficient power company in the country armed with experience in engineering, construction and operation of thermal power plants. The stock is up 2.2%.

After a gap of two months of single digit growth, cement sales volumes in India are expected to reach double digit levels during the month of May 2012. As per a leading business daily, this is expected to be largely driven by robust sales from the two cement majors UltraTech and Ambuja Cements. It may be noted that these two companies along with ACC control nearly one-third of the cement market in India. While the latest GDP data may not be very encouraging, especially for the quarter ended March 2012, it is believed that the strong dispatches of the commodity (especially during the pre-monsoon season) have given the industry such an expectation of double digit growth. For instance, Ambuja Cements reported an almost 12% YoY increase in cement volumes in May this year. UltraTech Cement is believed to have reported a growth of 10.6%. During FY12, the cement sector reported a growth of about 6.5%.

For the full year FY13, the industry is expected to grow by about 8 to 9%. Historically the sector has grown at a pace of about 1.5 times the GDP growth of the country. Going forward, the growth in the sector is expected to remain firm on the back of higher demand emanating from the infrastructure and construction sector. Both Ultractech and Ambuja Cement are currently trading in red.

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