Positive Start to the Day

Fri, 1 Jul 09:30 am

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Major Asian stock markets have opened the day on a positive note. Stock markets in HongKong and Japan are trading higher by 1.7% and 0.7% respectively.

Benchmark indices in Europe and US ended their previous session on an encouraging note with stock markets in UK and US ending the day higher by 2.2% and 1.3% respectively. The rupee is trading at 67.61 per US$.

Indian stock markets have opened the day on a firm note. The BSE Sensex is trading higher by 170 points (up 0.6%) and the NSE Nifty is trading higher by 45 points (up 0.6%). Both BSE Mid Cap and BSE Small Cap are trading higher by 0.6% each.

Most of the sectoral indices have opened the day in green. Stocks from Metal and Fast moving consumer goods (FMCG) sector are the top gainers in the pack.

As per an article in Livemint, increasing activity and acquisitions are taking place in the Ayurveda and Herbal space. The demand for Ayurveda products is on an uptrend.

Reportedly, the overall beauty and personal care market in India is pegged at around Rs 747 billion. Of which Rs 45 billion is Ayurveda. Though, Ayurveda just accounts for 6% of the overall personal care product markets, experts believe that sales of ayurvedic products by volumes are growing at almost double rate of the overall segment (beauty and personal care market) average.

Baba Ramdev, the face of Patanjali, is actively endorsing the themes such as Ayurveda and yoga. This has not only benefiting Patanjali, but the move has also opened up a big market for all those who sell ayurvedic or herbal products.

Owing to increasing traction for Ayurvedic products, companies such as Hindustan Unilever Limited (HUL) re-launched Lever Ayush for its ayurvedic range, which is exclusively sold online. Further, the company also acquired ayurvedic hair oil and shampoo brand Indulekha in December 2015 to strengthen its presence in the premium category.

Reportedly, companies such as Dabur and Emami, already having a strong ayurvedic product portfolio, are also looking to scale up the business from this category.

A dozens of fast moving consumer goods (FMCG) companies have partially been affected due to the increasing traction for ayurvedic products. The companies are adjusting their business strategy to accommodate more ayurvedic products in their portfolio.

Further, emergence of Patanjali too has affected their sales. Given that, Patanjali still lacks distribution strength as compared to other FMCG companies, it will be interesting to see how things pan out in this space going forward.

In another news update, the deal between UltraTech Cement and Jaiprakash Associates for the sale of the latter's cement assets has hit a hurdle. This is on account of Jaypee Group not meeting certain financial commitments. This includes clearance of statutory dues and insufficient working capital for the plants under review. However, the deal has not been called off as yet and efforts are under way to salvage the same.

On 31 March, UltraTech and Jaiprakash Associates signed a definitive agreement for the sale of Jaiprakash's cement division.

Under the agreement, UltraTech was to purchase 21.2 million tonnes in cement capacity located across five states for Rs 159 billion. UltraTech was also to pay Rs 4.7 billion on the completion of Jaiprakash's under-construction cement plants, which were part of the deal. The stock of Ultra Tech cement is trading up by 0.5%.

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