Sensex Trades above 39,000-Mark; Tata Motors Gains Over 4%

Tue, 16 Jul 12:30 pm

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Share markets in India are presently trading on a positive note. Barring IT sector, all sectoral indices are trading in green with stocks in the oil & gas sector, realty sector and consumer durables sector witnessing maximum buying interest.

The BSE Sensex is trading up by 146 points (up 0.4%), while the NSE Nifty is trading up by 47 points (up 0.4%). The BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading up by 0.2%.

Speaking of Indian share markets, note that small-cap stock indices have underperformed large-caps since the Union Budget was announced. But Richa Agarwal says this fall currently offers the best bargains to the market.

In the below video, she talks about how market correction post budget offers great buying opportunities in Smallcap space.

To know more about smallcaps, read One Stock Crorepati, Best Stock to Buy, Falling Smallcap Stocks Smallcap Stocks Under Modi 2.0, Crorepati stocks

Market participants are tracking Federal Bank share price and HDFC AMC share price as these companies are set to announce their June quarter (Q1FY20) results later today.

You can also read our recently released Q1FY20 results: Infosys, TCS, IndusInd Bank.

In news from the engineering sector, Cummins India share price is witnessing selling pressure today after Sandeep Sinha resigned as Managing Director of the company.

Shares of the company fell 5% in early trade today on back of the above news.

In a BSE filing, the company said, Sinha also resigned as Vice President of Cummins India ABO, adding the reason for his resignation is to pursue business interests outside of the company.

Sinha joined the company back in 2004 as a Corporate Indirect Purchasing Manager. Over his career, he held several leadership roles in Corporate Strategy in the USA, New & Recon Parts and Industrial Engine Business in India.

Moving on to news from the automobile sector, Ashok Leyland share price is in focus today as the company announced closure of its Pantnagar plant due to weak demand and outlook for the industry.

In a regulatory filing, the company said that the plant will remain closed between July 16 and July 24. Shares of the company slipped around 4% on back of the above news.

Meanwhile, Tata Motors is conducting countrywide free monsoon check-up campaign beginning July 15. The campaign will run for 11 days and will end on July 25.

Apart from free check-ups, the company will also provide various schemes and offers across its dealership network.

Tata Motors share price is presently trading up by 4.4%.

To know more about the company, you can read Tata Motors' 2018-19 Annual report analysis on our website.

Speaking of the automobile sector, note that auto sales have been hit ever since the liquidity crisis in the finance sector. Lack of demand due to illiquid market and weak consumption appetite led to steep fall in sales.

According to vehicle sales data released by industry body Society of Indian Automobile Manufacturers (SIAM), domestic sales across passenger vehicles (PVs), commercial vehicles (CVs) as well as two- and three-wheelers fell 12% year-on-year in June.

The combined sales of all automobiles fell to 1.9 million units in June against 2.2 million units a year ago.

Passenger sales fell 20.5% in May 2019 compared to May 2018. This follows a 17.1% year on year decline in April as well.

The decline in May is the worst seen since 2001.

Never Ending Woes For The Automobile Sector

Here's what Tanushree Banerjee wrote about it in one of the recent edition of The 5 Minute WrapUp...

• Multiple factors have affected the auto sector of late.
  
  The liquidity crisis faced by NBFCs, regulatory changes leading to increased costs, new emission norms... they have all taken their toll.
  
  Also, this sector is ripe for disruption with electric vehicles and ride sharing applications.
  
  Maruti, India's largest car maker announced it would stop making diesel cars from April next year.
  
  The coming one year will be a real test for India's auto companies.
  
  It will also tell us if this slowdown is temporary or if there has been a structural change in the sector.
  
  There is one thing I know for sure, dear reader. Only the ones adapting their business models to the rapidly changing environment will survive and thrive.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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