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- Indian Stock Market News August 16, 2021
Sensex Trades Marginally Higher, Dow Futures Down by 132 Points Mon, 16 Aug 12:30 pm
Share markets in India are presently trading marginally higher.
The BSE Sensex is trading up by 88 points, up 0.2%, at 55,526 levels.
Meanwhile, the NSE Nifty is trading up by 13 points.
Mahindra & Mahindra and Reliance are among the top gainers today. Bajaj Auto and Shree Cement are among the top losers today.
The BSE Mid Cap index is trading down by 0.2%.
The BSE Small Cap index is trading down by 0.5%.
On the sectoral front, stocks from the energy sector are witnessing most of the buying interest.
On the other hand, stocks from the telecom 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 down by 30 points (down 0.2%) while Dow Futures are trading down by 132 points (down 0.4%).
The rupee is trading at 74.24 against the US$.
Gold prices are trading down 0.1% at Rs 46,872 per 10 grams.
Gold prices in India struggled for direction today after a sharp gain in the previous session. On MCX, gold was flat at Rs 46,961 per 10 grams. In the previous session, gold had risen about Rs 600 per 10 gram.
Note that gold has been on a upward trend after hitting a four-month low of Rs 45,800 last week after better-than-expected US data led to a selloff on bets that the Federal Reserve may start paring back massive monetary stimulus soon.
In global markets, gold rates were near a one-week high today after data showed that US consumer sentiment fell in early August to the lowest in nearly a decade. Spot gold was flat at US$1,779.5 per ounce.
The data weighed on the dollar index, which fell to a one-week low on Friday, making gold cheaper for holders of other currencies.
Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?
The chart below shows the annual returns on gold over the last 15 years...
As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.
Even with the recent volatility in prices, gold and silver remain among the best performing commodities this year to combat the fallout from the coronavirus pandemic.
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 Apollo Hospitals.
Shares of Apollo Hospitals rallied 5% in intraday trade today on the BSE and hit a record- high after the company reported a 73% year on year (YoY) growth in revenue at Rs 37.6 bn for the June 2021 quarter.
The company's revenue stood at Rs 21.7 bn in the same period last year. The healthy revenue growth was mainly driven by hospital segment and the pharmacy distribution.
The hospital's occupancy across the group was at 5,108 beds (67% occupancy) as compared to 2,742 beds (38% occupancy) in the year ago period.
The occupancy in mature hospitals was at 3,500 beds (64% occupancy). New hospitals had an occupancy of 1,607 beds (73% occupancy), Apollo Hospitals said.
The average revenue per occupied bed or ARPOB (excluding vaccination) registered a growth of 8% YoY at Rs 41,102 compared with Rs 38,065.
However, the company's EBITDA (earnings before interest, taxes, depreciation, and amortization) margins degrew by 53 basis points (bps) to 13.8 per cent due to lower gross profit margins.
After Covid-19 related hindrances last year, the healthcare business is more or less back to normalcy albeit due to Covid traction.
Structurally, cost reduction drives, expanding of complex procedures and profitability of new hospitals and Apollo Health & Lifestyle (AHLL) remain key management focus areas.
We will keep you posted on more updates from this space. Stay tuned.
At the time of writing, Apollo Hospitals shares were trading up by 6.1% on the BSE.
Moving on to news from the auto ancillaries sector...
Amara Raja Batteries Quarterly Net Profit Doubles to Rs 1.2 bn
Amara Raja Batteries' (ARBL) revenue increased to Rs 18.9 bn for the June 2021 quarter from Rs 11.5 bn in the same period last year as aftermarket demand across product segments in both automotive and industrial segments remained strong.
The company said the automotive business revenue grew on the back of strong growth in exports and OEMs (original equipment manufacturers).
In the industrial business, both telecom and UPS applications registered strong year on year (YoY) growth.
As a result, the company reported a net profit of Rs 1.2 bn for the quarter, nearly double from Rs 625 m in the June 2020 quarter.
With respect to the outlook, the company's vice chairman, managing director and CEO, Jayadev Galla said,
- While the uncertainties due to the second wave of Covid-19 and the resultant lockdowns are creating unpredictability in the product off take, we are focused on ensuring the product availability across all market segments by calibrating manufacturing operations and supply chain dynamically.
Even as we prepare ourselves for the future opportunities in both energy storage and e-mobility applications, we remain focused on maximising the value of the lead acid business by selective investments in expanding product portfolio and the geographies we serve.
ARBL is an energy and mobility enterprise. It is one of the largest manufacturers of energy storage products for both industrial and automotive applications in the Indian battery industry.
How the company performs in the next quarter remains to be seen. Meanwhile, stay tuned for more updates from this space.
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!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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