Sensex Jumps 350 Points; Tata Motors and Vedanta Top Gainers

Fri, 13 Dec 12:30 pm

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Share markets in India are presently trading on a strong note. Benchmark indices opened higher today tracking global markets on renewed optimism about a US-China trade deal.

Barring telecom stocks and healthcare stocks, all sectoral indices are trading in green with stocks in the metal sector and banking sector witnessing most of the buying interest.

The BSE Sensex is trading up by 331 points while the NSE Nifty is trading up by 84 points. The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.6%.

The rupee is trading at 70.71 against the US$.

Speaking of Indian stock markets, Vijay Bhambwani states why he is positive about the markets and the Indian economy for the next 11 months.

As per Vijay, the US election season is set to have a big impact on India. In the video below, he covers what to expect over the next 11 months. Tune in to find out more...

In news from the metal sector, metal stocks are witnessing buying interest today after US President Donald Trump approved trade deal with China to halt December 15 tariffs.

President Donald Trump signed off on a phase-one trade deal with China, averting the December 15 introduction of a new wave of US tariffs on about US$ 160 billion of consumer goods from the Asian nation.

Shares of Vedanta, Tata Steel and Hindustan Copper surged over 4%, while SAIL, Jindal Steel and NALCO gained in the range of 2-3%.

Steel companies have witnessed contraction in margins, dragged down by lackluster demand and lower global commodity prices.

Margins of Tata Steel, JSW Steel, Jindal Steel & Power Ltd (JSPL) and SAIL contracted by Rs 1,200-2,400 per tonne in Q2FY20.

Any progress in the US-China trade deal would come in as a huge relief for metal stocks which have been under pressure ever since the global trade war between the two countries began.

How this development pans out and what effect it has on metal stocks remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Moving on to news from the automobile sector, Tata Motors share price is witnessing buying interest today.

The company said that it has launched the new generation range of Prima and Ultra trucks in Kuwait, specially designed to meet the changing customer needs.

The launch of the new products come in line with the successful delivery for orders from waste management and cleaning companies operating for the Kuwait Municipality.

Tata Motors bagged the contracts that includes the use of its new generation Prima and Ultra trucks for municipality cleaning projects for the next 5 years.

In other news, India's largest carmaker Maruti Suzuki has raised its vehicle production target for this fiscal.

The Suzuki Motor Corp. unit increased the target for the year ending 31 March by 6%, or 60,000 units, to 1.65 million vehicles.

Reportedly, the target has been increased because of expectations of stronger demand in the fiscal fourth quarter with the rollout of more cars compliant with Bharat Stage- VI (BS-VI) emission norms, cheaper financing options and brisk demand for its new products, XL6 and S-Presso.

Currently, of the 15 models of Maruti Suzuki, eight are compliant with BS-VI emission norms.

Note that Maruti increased its production in November by 4.3%, after having reduced output for nine straight months due to lower demand.

The automaker had cut its production by 20.7% in October to 1.19,337 units. Similarly, in September it had reduced its production by 17.5% to 1,32,199 units.

Automobile sales in the domestic market have been on a decline since the September 2018 due to an overall slowdown in consumption and liquidity crisis at financial institutions after the collapse of Infrastructure Leasing and Financial Services.

Speaking of the auto sector, note that India's automobile industry is bracing itself for a unique challenge in the first quarter of 2020 when the transition of BS-IV to BS-VI emission norms has to be made at the stroke of midnight on 31 March 2020.

No BS-IV vehicle could be sold from 1 April 2020, which means automakers would have to reduce their inventory on BS-IV models to zero by then.

The exercise is likely to see companies show extra caution in dispatching cars to dealers in the next few months, which may cause a continuation of the decline in wholesale numbers.

However, despite the slowdown in the auto sector, the sales volume of electric vehicles (EVs) are growing at a robust pace.

Sale of Electric Vehicles in India Projected to Go Up 10x in the Next Two Decades

Electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

The recently announced government incentives will give a further boost to EV sales.

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.

In our view, companies in the sector 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.

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

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