Indian Indices Rebound; Sensex Gains Over 200 Points

Wed, 6 Nov 12:30 pm

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Share markets in India have recovered early losses and are presently trading on a positive note.

Sectoral indices are trading mixed with stocks in the telecom sector and consumer durables sector witnessing selling pressure, while realty stocks, banking stocks, and metal stocks are witnessing buying interest.

The BSE Sensex is trading up by 184 points while the NSE Nifty is trading up by 45 points. The BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading down by 0.2%.

The rupee is trading at 70.93 against the US$.

In news from the pharma sector, shares of Sun Pharma climbed 5% intraday after the company entered into a licensing agreement with AstraZeneca UK.

The company announced that it has entered into a licensing agreement with AstraZeneca UK (AstraZeneca) to introduce certain novel ready-to- use (RTU) infusion oncology products in China.

As per the agreement, Sun Pharma will be responsible for development, regulatory filings and manufacturing the products covered in the agreement while AstraZeneca will exclusively promote and distribute these products in China.

The initial tenure of the agreement is 10 years from the first commercial sale of the said products in China.

Sun Pharma share price is presently trading up by 1.9%.

In other news, Aurobindo Pharma share price fell 5% today after the US health regulator issued four observations to the company's Hyderabad unit.

The United States Food and Drug Administration (USFDA) inspected Unit V, API manufacturing facility at Pashamylaram, Hyderabad and Unit VIII, API manufacturing facility at Gaddapotharam, Hyderabad of the company from October 21-28 and October 21-25, respectively.

In a BSE filing, the company said that "at the end of inspections, we have been issued a 'Form 483' with four observations for each facility."

To know more, you can read the company's 2018-19 annual report analysis on our website.

Moving on to news from the retail sector, shares of Titan company slipped 10% in early trade today after the company reported a disappointing set of numbers for September quarter (Q2FY20) due to higher gold prices and weakness in the overall consumption.

On a standalone basis, Tata Group's jewellery and watch company's operating revenue stood at Rs 44.4 billion compared to Rs 44.1 billion in the year-ago quarter.

Profit before tax (PBT) stood at Rs 4.3 billion, down 3.7% year-on-year (YoY) and net profit was up 1.8% YoY to Rs 3.2 billion.

Revenue growth during the quarter was lowest in the past 12 quarters. Earlier in Q2FY17, the company had reported a negative growth of 2% in net sales.

For the September quarter, the jewellery business accounted for 79% of the company's standalone revenues. Jewellery revenues declined 1.5% on a YoY basis.

Watches business recorded revenue of Rs 7.2 billion, up 6.4% over Rs 6.8 billion in the year-ago period

Other segments comprising accessories, fragrances and Indian dress wear grew by 33.2%, recording a revenue of Rs 440 million. The previous year revenue for this segment was Rs 330 million.

The company's management said revenue was impacted substantially by the decline in the revenues of the jewellery division due to a sudden spike in gold prices in June 2019.

The company also lowered its H2FY20 (October 2019 to March 2020) revenue growth guidance sharply to 11-13% from 20% due to lackluster performance and weakness in consumer sentiment.

Titan share price is presently trading down by 8.7%.

Here's an interesting data on Titan, every Rs 100 invested in the company in 2002 would have multiplied 330 times by 2019!

Every Rs 100 Invested in Titan in 2002 Multiplied 330 Times by 2019

Co-head of Research, Tanushree Banerjee believes the opportunities in the Rebirth of India are not only more profitable than the ones in 2002 but the gains could come faster too.

Here's what she wrote in a recent edition of The 5 Minute WrapUp...

• Titan entered the branded jewellery market in 1996.
  
  The retailer faced the challenge of breaching a well-entrenched network of family jewellers. The relationship between customer and family jewellers went back to a couple of generations.
  
  The habit of buying from the family jeweller was strong and the trust was intrinsic. One also had the option of returning old jewellery to the family jeweler.
  
  Through its jewellery brand, Tanishq, Titan broke down the early entry barriers in unorganized jewellery retailing. It consolidated its lead as very few national or branded players threw their hats in the ring.

She is on the hunt for the next set of Titan, HDFC Bank, Bajaj Finance, Asian Paints-like companies. These will be the companies that would catalyze the transformation she calls the Rebirth of India.

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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