Sensex Trades Over 400 Points Higher, Dow Futures Up by 19 Points

Fri, 13 Aug 12:30 pm

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Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 472 points, up 0.9%, at 55,316 levels.

Meanwhile, the NSE Nifty is trading up by 132 points.

Tata Consumer Products and TCS are among the top gainers today. Eicher Motors and Tata Steel are among the top losers today.

The BSE Mid Cap index is trading up by 0.3%.

The BSE Small Cap index is trading up by 0.4%.

On the sectoral front, stocks from the telecom sector are witnessing most of the buying interest.

On the other hand, stocks from the metal sector are witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 8 points (up 0.1%) while Dow Futures are trading up by 19 points (up 0.1%).

The rupee is trading at 74.28 against the US$.

Gold prices are trading up 0.4% at Rs 46,540 per 10 grams.

Gold prices in India struggled today after the recent fall. On MCX, gold futures were up 0.2% at Rs 46,449 per 10 grams.

Note that gold prices in India have fallen about Rs 2,000 per 10 grams in about a month, tracking global weakness. After hitting a record high of Rs 56,200 last year, gold has struggled this year.

In global markets, gold was flat and headed for a second consecutive weekly decline. Spot gold was unchanged at US$ 1,752.8 per ounce.

Weighing on gold, the dollar was steady near a four-month high against a basket of currencies.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Moving on to stock-specific news...

Among the buzzing stocks today is Hero MotoCorp.

Shares of Hero MotoCorp are in focus today after the company reported a 498% year on year (YoY) rise in net profit at Rs 3.7 bn for the June 2021 quarter, which was below the Street's estimate. The country's largest two-wheeler maker reported an 85% YoY increase in revenue at Rs 54.9 bn which was also below estimates.

The strong growth in net profit and sales was aided by a depressed base in the year ago quarter, which was impacted by the national lockdown to contain the spread of the Covid-19 pandemic.

Hero MotoCorp's Chief Financial Officer Niranjan Gupta said,

• The first quarter of this fiscal has been adversely impacted by Covid-19. Despite the challenges posed by the pandemic, Hero MotoCorp achieved significant growth in both earnings and profitability.

On the operating front, the company's earnings before interest, tax, depreciation and amortization (EBITDA) jumped 377% YoY to Rs 5.2 bn while the operating margin came in at 9.4%. The company saw commodity costs rise during the quarter which impacted margins. However, it has taken judicious and measured pricing decisions, to offset a part of the increase through its accelerated Leap-2 savings program.

Hero MotoCorp sounded optimistic on future demand. The company said that in the near term, retail sales should pick up due to the onset of the festive season and normal monsoons this year.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, Hero MotoCorp shares were trading up by 0.2% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani shares a simple hack to boost intraday profits, in one of his latest videos for Fast Profits Daily.

Tune in here to find out more:

Moving on to news from the pharmaceutical sector...

JB Chemicals & Pharma Posts Rs 1.2 bn Net profit for June Quarter

Pharmaceutical firm JB Chemicals & Pharmaceuticals' (JBPCL) net profit remained flat for the June 2021 quarter at Rs 1.2 bn. The company had posted a net profit of Rs 1.2 bn for the same period last year.However, the company's consolidated revenue came in higher at Rs 6.1 bn against Rs 5.2 bn for the June 2020 quarter.

In a press release, JBCPL CEO and director Nikhil Chopra said,

• The organisation continued its strong performance well in the first quarter of the financial year. On the domestic front, we are one of the fastest growing companies in the industry.
  
  While demand trends in the international business continue to be volatile (given the Covid-19 situation), the company's key markets like the US, South Africa have outperformed and even Russia/CIS are seeing gradual signs of revival.

The company plans to launch half a dozen products, including herbal lozenges, this year. Earlier this year in May, it launched medicated nicotine lozenges to help reduce the urge to consume or smoke tobacco.

How the company performs in the next quarter remains to be seen. Meanwhile, stay tuned for more updates from this space.

Speaking of the current stock market scenario, note that the BSE smallcap index has surged more than 180% since the crash in March 2020.

Despite the index being up more than 1.8 times, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes smallcap stocks are set for a massive up move in 2021 and beyond.

Here's why...

The Smallcap to Sensex ratio, a metric referred to get a sense of relative valuations, currently stands at 0.48 times. To be sure, this is higher than a median of 0.43 times.

And yet, it's the lowest of all the peaks in the smallcaps so far. In the last cycle which peaked in January 2018, when the ratio touched 0.49, the peak was still 9 months away.

Here's what Richa wrote in a recent edition of Profit Hunter...

• When it comes to buying smallcap stocks, especially at this point in the rebound rally, you will need a bottom up approach, and a long term horizon.
  
  In fact, if you don't have the stomach to withstand a 20%-30% kind of corrections and volatility, this space may not be for you at all. And you should stop reading right here.

As per Richa, smallcaps are a great opportunity to make some big returns. But you need to stay disciplined when it comes to allocating money. And you need to be sharp when picking the right stocks.

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

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

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