Passenger Vehicle Sales in November, RBI Proposal for NBFC's Dividend Payouts, and Buzzing Stocks Today

Mon, 14 Dec Pre-Open

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Indian share markets ended marginally higher on Friday.

At the closing bell on Friday, the BSE Sensex stood higher by 139 points (up 0.3%).

The NSE Nifty ended up by 35 points (up 0.3%).

ONGC and NTPC were among the top gainers.

Axis Bank, on the other hand, was among the top losers.

The BSE Mid Cap index ended up by 0.2%. The BSE Small Cap index ended up by 0.5%.

Sectoral indices ended on a mixed note with stocks in the metal sector and oil & gas sector witnessing buying interest.

Pharma and IT stocks, on the other hand, witnessed selling pressure.

Gold prices for the latest contract on MCX were trading flat at Rs 49,081 per 10 grams at the time of closing stock market hours on Friday.

Speaking of gold, in his latest video, India's #1 trader, Vijay Bhambwani shares his view on gold and silver for the coming year.

In the video, Vijay explains the reasons behind staying positive on these assets.

Tune in here to find out more:

And to know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

Top Stocks in Focus Today

Among the buzzing stocks today will be HCL Technologies.

IT services major HCL Technologies said it has set up its first delivery centre in Vietnam at Hanoi and plans to hire more than 3,000 people over the next three years.

From its first delivery centre in Vietnam's capital city Hanoi, HCL will deliver advanced technology solutions to its global client base across several industries and verticals, including banking and financial services, healthcare, infrastructure, engineering and cybersecurity.

Indian Oil Corporation (IOC) share price will also be in focus today.

State-owned Indian Oil Corporation said the crude oil throughput out of its refineries rose to 100% in November 2020, as consumption of all petroleum products has almost reached pre-Covid levels.

On a sequential basis, this figure stood at 88% in October.

The company said that as the Indian economy prepares to bounce back, Indian Oil has gradually raised the throughput of its refineries to the maximum capacity in six months from about 55% of rated capacity at the beginning of May 2020.

Market participants will also track ONGC share price today. The stock of the company witnessed huge buying interest last week on the back of rise in crude oil prices.

Note that crude oil prices witnessed buying last week on the back of a Covid-19 vaccine rollout in Britain and the imminent approval of a vaccine in the United States, which could spur a rebound in fuel demand.

RBI Proposes Criteria for NBFC's Dividend Payouts

In news from the finance sector, the Reserve Bank of India (RBI) has proposed a rule that non-banking lenders achieve key balance sheet health thresholds before they distribute their earnings to shareholders.

In a draft proposal, the RBI has linked the extent of dividend a non-banking financial company (NBFC) can pay to its shareholders with its capital adequacy ratio and net non-performing asset (NPA) ratio.

Even the best-performing large NBFCs cannot have a dividend payout ratio of above 50%, if the draft norms turn into actual regulation.

What's more is that the NBFCs will need to have over 15% capital adequacy ratio to even qualify to pay dividends. The move has implications for all NBFCs, especially the large ones.

Reports state that big NBFCs such as HDFC and Bajaj Finance are unlikely to get hit, others may have to either raise capital or bring down their bad loan stockpile.

LIC Housing Finance may have to raise capital to fortify its ratio, while Mahindra and Mahindra Financial Services may have to bring down its bad loan stockpile.

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

Passenger Vehicle Wholesale Sales Rise Nearly 13% in November

In news from the automobiles sector...

Passenger vehicle wholesales in India increased by 12.7% to 2,85,367 units in November as against 2,53,139 units in the same month last year. The growth was seen on the back of festive demand.

According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales rose 13.4% to 16,00,379 units, compared with 14,10,939 units in the same month last year.

Motorcycle sales were at 10,26,705 units as against 8,93,538 units in November 2019, up 14.9%. Scooter sales were also up by 9.2% at 5,02,561 units from 4,59,851 units in the same month last year.

Three-wheeler sales, however, declined by 57.64% to 23,626 units as against 55,778 units in November 2019.

Speaking of the automobile sector, note that the sector has rebounded sharply from its March lows.

The Nifty Auto index gained as much as 15% last month.

The auto index entered the greed phase in September 2019 and will stay there until December 2021. This means there is still a lot of fuel left for auto stocks.

How automobile stocks perform in the coming months remains to be seen. Stay tuned for all the updates from this space.

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

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