M&M Tractor Sales, Nykaa's Expansion Plan, and Buzzing Stocks Today

Thu, 2 Dec Pre-Open

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Indian share markets ended on a strong note yesterday.

Benchmark indices displayed a positive bias yesterday backed by supportive global cues and encouraging macro-economic data.

On Tuesday, after market hours, India reported quarter two GDP growth rate at 8.4%, and the eight core-sector output for October also came in strong at 7.5%.

Further, robust GST collections at Rs 1.31 tn in November, the second highest since implementation and a smart up-tick in manufacturing activity reading at 57.6 in November up from 55.9 in October lifted the market sentiment.

At the closing bell yesterday, the BSE Sensex stood higher by 620 points (up 1.1%).

Meanwhile, the NSE Nifty closed higher by 184 points (up 1.1%).

IndusInd Bank and JSW Steel were among the top gainers.

Cipla and Divi's Lab, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1% and 0.3%, respectively.

Sectoral indices ended on a positive note with stocks in the metal sector, energy sector and banking sector witnessing most of the buying interest.

Healthcare and consumer durables stocks, on the other hand, witnessed selling pressure.

Shares of Bajaj Holdings & Investment and TCI Express hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading on a flat note today at Rs 47,600 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, smallcap guru Richa Agarwal discusses how to pick the best growth stocks in fiscal 2022, in her latest video.

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Top Stocks in Focus Today

Among the buzzing stocks today will be Maruti Suzuki.

Shares of Maruti Suzuki gained almost 4% as the country's largest carmaker announced an increase in prices of all non-cargo variants of its Eeco van by Rs 8,000.

The rise in prices of the non-cargo varieties of the Eeco vehicle are on account of introduction of passenger airbag and the increased fare will be effective from 30 November 2021.

The starting price of the passenger version of the Eeco is Rs 4.3 lakh and scales up to Rs 5.6 lakh. The variant which is used for ambulances ex-showroom Delhi is priced at Rs 7.3 lakh.

The Eeco has four variants through five and seven-seat layouts and the vehicle are powered by a 1.2-litre, four-cylinder, G12B petrol engine, reports said.

The version which only runs on petrol produces 72bhp and 98Nm of torque as against the petrol-CNG variant produces 62bhp and 85Nm of torque. The only gearbox on offer is a five-speed manual transmission.

In what was the third price hike for passenger vehicles, the automobile major had in September ramped up prices of its overall product range by up to 1.9%, with the exception of Celerio.

In July-September, Maruti Suzuki's earnings undershot estimates because of disruptions on the supply side, with net profit rising 7.8% quarter on quarter (QoQ) to Rs 4.8 bn.

Nykaa share price will also be in focus today.

Indian cosmetics-to-fashion retailer Nykaa plans to more than triple its brick-and-mortar stores to 300, founder and Chief Executive Falguni Nayar said, significantly building its offline presence in the country.

Nayar declined to give a timeline for the rollout but said the company was targeting 100 cities, adding to the 84 retail outlets it already operates in 40 cities.

The process of store expansion had slowed down due to Covid-19 pandemic for a year or so but this year they have revived the store rollout plan.

Though Nykaa largely operates as an e-commerce platform selling everything from global cosmetic brands to jewellery, Nayar said the physical stores, targeting Indian consumers wanting to buy touch-and-feel products, were a critical part of the business.

Despite rapid growth of e-commerce and the likes of Amazon.com in India's near US$900 billion retail market, most shoppers still buy products offline.

Nykaa has said it is targeting a sub-segment of that sector - the US$70 bn beauty, personal care and fashion market.

M&M Reports 15% Dip in November Tractor Sales

Mahindra & Mahindra (M&M) reported a 15% decline in total tractor sales at 27,681 units in November 2021. The company had sold 32,726 units in the same month last year.

Domestic tractor sales were down 17% at 26,094 per cent in November compared to 31,619 units in the same month last year.

However, exports were up 43% at 1,587 units, against 1,107 units in November last year.

Commenting on the sales performance, M&M President - farm equipment sector Hemant Sikka said,

• De-growth over November 2020 is due to high base of last year and incessant rains in some states.
  
  The rural sentiments continue to remain positive on account of good Rabi sowing and high reservoir levels.
  
  Also, escalation in procurement for Kharif crop will bring steady cash flows, which is expected to boost tractor demand going forward.

India's Power Demand Growth Slows in November

India's electricity demand grew 2.2% in November, slower than the 4.1% increase in October, a Reuters analysis of government data showed, helping the energy-hungry nation tide over a crippling coal shortage that caused widespread power cuts.

Surging power demand and high global prices in October left utilities scrambling for coal, India's dominant fuel for power generation, despite record supplies from state-run Coal India, which has a near-monopoly of production.

Average daily coal-fired power generation in November was down 2.8% from October.

The number of plants having supply agreements with Coal India with inventories of three days or less fell to 31, as of 29 November 2021, latest data from the federal power ministry shows, compared with 44 out of the 135 plants in October.

Dependence on coal for electricity generation rose to 75.2% in November, compared with 70.6% in October, though the total electricity production from coal fell.

India's renewable output typically slows in the first and last quarters every year due to lower generation from sources such as hydro, solar and wind, increasing dependence on coal.

The rise in power demand last month was driven by growth in electricity consumption in India's most industrialised state Maharashtra.

Other industrialised states such as Karnataka and Tamil Nadu registered a decline in power use, while Gujarat's consumption growth was largely flat.

We will keep you updated on the latest developments from this space. Stay tuned.

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

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