[vc_row][vc_column][vc_column_text css=”.vc_custom_1635767556126{margin-top: 1px !important;margin-right: 1px !important;margin-bottom: 1px !important;margin-left: 1px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;background-color: #e8e8e8 !important;border-left-color: #dd3333 !important;border-left-style: solid !important;border-right-color: #dd3333 !important;border-right-style: solid !important;border-top-color: #dd3333 !important;border-top-style: solid !important;border-bottom-color: #dd3333 !important;border-bottom-style: solid !important;border-radius: 3px !important;}”]
Market Today with EZWealth – 1 Nov 2021
[/vc_column_text][vc_single_image image=”68145″ img_size=”full” alignment=”center” css=”.vc_custom_1635767805043{margin-top: 1px !important;margin-right: 1px !important;margin-bottom: 1px !important;margin-left: 1px !important;border-top-width: 1px !important;border-right-width: 1px !important;border-bottom-width: 1px !important;border-left-width: 1px !important;border-left-color: #000000 !important;border-left-style: solid !important;border-right-color: #000000 !important;border-right-style: solid !important;border-top-color: #000000 !important;border-top-style: solid !important;border-bottom-color: #000000 !important;border-bottom-style: solid !important;border-radius: 1px !important;}”][vc_column_text]Power consumption rises 4.8% to 114.37 BU in October
India’s power consumption grew 4.8 per cent in October to 114.37 billion units (BU), indicating a good recovery amid coal shortages at electricity generation plants, according to power ministry data. Last year in October, power consumption stood at 109.17 BU and in the same period in 2019, it was at 97.84 BU.
During October, the peak power demand met or the highest supply in a day stood at 174.60 GW, higher than 169.89 GW in the same month last year. The data clearly shows that there is recovery in power consumption as well as demand in the country. Experts said the recovery in power demand as well as consumption would increase further due to the government’s efforts to ramp up coal supplies at plants and improvement in economic activities following the lifting of lockdown restrictions by states.
Housing sector witnesses over 13% QoQ growth in aggregate demand
The residential real estate sector is witnessing signs of recovery after experiencing serious economic repercussions caused by the pandemic. It is seeing a pan-India quarterly increase in demand of over 13 percent during the quarter, said the latest Magicbricks PropIndex report for the July-Aug-Sept 2021 quarter. Further, the aggregate supply in the country jumped by nearly 8 percent Quarter on quarter (QoQ) during the period.
Peripheral locations continued to garner attention in Ahmedabad, Mumbai Metropolitan Region (MMR), Delhi NCR and Pune. In each of these cities prices witnessed a growth of 0.3 percent QoQ during this period displaying high resilience of the housing markets compared to other real estate classes in the country. It is expected that this trend will continue for a few more quarters, until unsold inventories decrease significantly, as most developers are expected to focus largely on launching affordable and mid-range homes. The real estate market of Delhi witnessed 29.1 percent QoQ growth in demand. Moreover, the under-construction properties saw a significant increase in prices QoQ in almost all price segments. On the other hand, Ready-to-Move properties did not see any major QoQ change in prices during the last 5 years due to limited demand for the existing properties.
In Bengaluru, the housing market saw mixed results as demand increased by 6 percent QoQ and supply decreased by 4 percent QoQ in Q3 2021. Given the relaxations in mobility and increase in business operations, the city saw more buying interest as developers attract new home buyers by offering pre-EMI option and 12 months payment holiday.
Hyderabad’s residential real estate, which remained resilient during the COVID-19 pandemic, saw both demand and supply increase by 3 percent QoQ each in Q3 2021. There is a growing preference for peripheral areas, which can be attributed to the various initiatives of the state government to launch housing schemes and e-auctioning of plots for office spaces, in the outskirts of the city.
India’s manufacturing PMI gains steam in Oct, expands for 4th straight month
Growth in manufacturing activities in India continued gathering momentum, remained in the expansion territory for the 4th straight month in October, a private survey showed on Monday. The seasonally-adjusted IHS Markit Purchasing Managers’ Index came in at 55.9 in October, rising from 53.7 in September. Do note, a PMI number greater than 50 indicates expansion in business activity. A number less than 50 shows contraction.
Data shows that panelists continued to report rising prices for several materials & transportation. Selling charges had to be lifted again as overall input costs increased at the sharpest rate since February 2014. Pollyanna De Lima, Economics Associate Director at IHS Markit, said “Manufacturing activity will continue to expand throughout the third quarter of fiscal year 2021/22 should the pandemic remain under control.”
New orders also posted an increase in October. In fact, the spike in new orders was quite sharp, the survey shows, and expanded at the fastest rate in seven months. And as such, factory output too saw a sharp recovery & was the increased at the fastest pace since March. “Upbeat business confidence and projects in the pipeline should also support production in the coming months,” De Lima added.
GST collection at ₹1.30 lakh crore, second all-time high
Collection from Goods & Services Tax (GST) in the month of November crossed ₹1.30 lakh crore. This is second highest collection since the introduction of nex indirect regime in 2017. All time high collection figure was over ₹1.40 lakh crore in April this year. A statement issued by the Finance Ministry said that the revenues for the month of October are 24 per cent higher than the GST revenues in the same month last year and 36 per cent over 2019-20. During the month, revenue from import of goods was 39 per cent higher and the revenues from domestic transaction (including import of services) are 19 per cent higher than the revenues from these sources during the same month last year.
Petrol, diesel prices hiked for sixth consecutive day
In the national capital, with a hike of 35 paise a litre, the price of petrol rose to Rs 109.69 per litre while the price of diesel was increased by the same amount to cost Rs 98.42. In Mumbai, the prices of petrol and diesel increased to Rs 115.50 and Rs 106.62 per litre respectively. As for Kolkata, petrol costs Rs 110.35 per litre and diesel costs Rs 101.56 per litre while petrol and diesel cost Rs 106.35 and Rs 102.59 per litre respectively in Chennai.
Meanwhile, the Central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices. Earlier, a source told ANI that the Ministry of Petroleum and Natural Gas recently raised concerns about the matter of pricing, supply and demand of oils to the major oil-producing countries.
More customers shopped on Amazon.in, 79 percent new users from small towns
Amazon India on October 31 said it has seen the highest number of customers shopping on its platform “than ever before”, with 79 percent of new customers coming from tier II and III towns like Ernakulam and Guntur. Amazon.in, which kick-started its Great Indian Festival 2021 on October 2 with Prime Early Access and went live for all customers on October 3, said more than 10 lakh customers purchased a smartphone from the platform for the first time during the festive sale.
According to the data provided by Amazon India, customers from 99.7 percent pin codes shopped during the month-long celebrations. “More customers shopped on Amazon.in than ever before, with 79 per cent of new customers coming from tier II and III towns like Ernakulam, Guntur, Krishna, Godavari and more,” it added. Amazon.in said Prime continues to be a customer favourite with 3 out of 5 signups coming from beyond the metros like Nalgonda, Chandrapur, Alwar, Hassan, Bijnor, Malda and Itanagar. Also, one out of two Prime members who shopped during the festive season, are from tier II and III towns. It added that ‘Local Shops on Amazon’ sellers clocked a 2x spike and sold over 10 products every minute. “Most loved categories” from Local Shops on Amazon include major appliances, kitchen, home entertainment (TVs), furniture, home, lawn and Garden, and grocery.
Plastic labware maker Tarsons India’s first company to foray into Rs 24,000 crore global market for PCR, cell culture products
Life sciences firm Tarsons Products, which is expected to hit the capital market with an IPO size of Rs 1,000-1,200 crore this month, is likely to become the country’s first company in the manufacturing of PCR and cell culture products segment. Globally, the market for such laboratory products is estimated at Rs 24,000 crore and dominated by a few developed countries, an official said.
The company got approval from the capital market regulator SEBI on October 29 for the initial public offering. It will raise Rs 150 crore fresh capital, while 1.32 crore shares will be on offer for sale from promoters and a private equity investor. There is no company in India into PCR and cell/tissue culture space. Globally, there are a few firms in this segment. The company has already developed the first two phases of the PCR products in the last five months and will develop the next two phases by the end of this financial year. We will be the first Indian company into this segment, Tarsons chairman and managing director Sanjive Sehgal said told PTI.
The company, which has five units in West Bengal, is developing its sixth and the largest facility at Panchla, about 49kms from Kolkata. The unit, which is spread across five acres of land, is likely to entail a total investment of Rs 200 crore, sources said.
Australia recognises Covaxin as valid vaccine for entering country
Australia has decided to recognise Covaxin, manufactured by Bharat Biotech, as an approved vaccine for all travellers aged 12 and above entering the country. The decision comes as a big boost for Bharat Biotech, the manufacturer of India’s first indigenous Covid-19 vaccine, as it awaits approval from the World Health Organisation (WHO). Australia had already approved AstraZeneca manufactured Covishield for travel last month.
Chip shortage drags car sales 21% downhill in October
A shortage in the availability of semiconductors yet again turned into a major hurdle with two of the country’s three biggest carmakers, who control 70 percent of the market, slowing down in October sales. Total domestic passenger vehicle sales during the month by nine manufacturers dropped 21 percent to 238,679 units as against 302,170 units a year back. The drop in volumes comes amid the industry sitting on pending orders of more than 350,000 units.
Maruti Suzuki, the country’s largest carmaker, posted 33 percent plunge in wholesale volumes of passenger vehicles in October to 108,991 units as it ran out of semiconductors. The Delhi-based company and its contract manufacturing company had cut production in October by 40 percent because of the chip shortage.
India’s second commonest car on the road, Hyundai, reported a 34 percent on-year drop in volumes to 37,021 units in October. Hyundai Motor India had managed to keep the chip shortage issue at bay for long, but October numbers show that it has finally crippled its output.
Tata Motors, the third in terms of volumes, sold 33925 units in October, making a 44 percent growth over the year-ago period. The rolled-out fleet included 1,586 electric vehicles.
SUV specialist Mahindra & Mahindra posted 8 percent growth in volumes in October to 20,130 units as against last year. Though it was one of the first to be impacted by the semiconductor shortage, it adopted a host of measures in the last few months to mitigate the threat.
Korean automotive brand Kia reported a 22 percent drop in volumes during October to 16,331 units over last year. The drop can be attributed to the chip shortage, though Kia India has not officially spoken on this yet.
Volumes of Toyota Kirloskar remained flat at 12,440 units, a growth of 0.54 percent, during October. The Bengaluru-based company claims to have seen a constant rise in demand.
Hinduja Group flagship firm Ashok Leyland on Monday reported an 11 per cent growth in total commercial vehicles sales at 11,079 units in October. The company had sold a total of 9,989 units in the same month last year, Ashok Leyland said in a regulatory filing.[/vc_column_text][vc_column_text css=”.vc_custom_1635767578333{margin-top: 1px !important;margin-right: 1px !important;margin-bottom: 1px !important;margin-left: 1px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;background-color: #e8e8e8 !important;border-left-color: #dd3333 !important;border-left-style: solid !important;border-right-color: #dd3333 !important;border-right-style: solid !important;border-top-color: #dd3333 !important;border-top-style: solid !important;border-bottom-color: #dd3333 !important;border-bottom-style: solid !important;border-radius: 3px !important;}”]
Stocks in the news today
[/vc_column_text][vc_column_text]IRCTC posted a massive 386% surge in profit after tax (PAT) at Rs 158.5 crore as compared to Rs 32.6 crore reported in the same period last year. Profit in the first quarter of this financial year stood at Rs 82.5 crore. Revenue from operations for quarter under review showed a robust growth of 357 percent at Rs 405 crore as compared to Rs 88.5 crore reported last year. The company had reported revenues of Rs 243 crore in the previous quarter.
Housing Development Finance Corporation (HDFC) on November 1 reported a 31.7 percent year-on-year growth in profit at Rs 3,780.5 crore for the quarter ended September 2021 with assets under management (AUM) at a five-quarter high, and improvement in asset quality. Higher dividend income and lower expenses supported profitability. Profit in the corresponding quarter of previous year stood at Rs 2,870.1 crore. Net interest income, the difference between interest earned and interest expended, grew by 12.7 percent to Rs 4,108.5 crore compared to year-ago period.
Auto major Tata Motors Ltd reported a consolidated net loss of ₹4,441 crore for the second quarter ending September (Q2FY22). The company had posted a net loss of ₹314 crore in the year-ago period (Q2FY21) and ₹4,451 crore in the previous June quarter (Q1FY22) respectively. The Mumbai-headquartered company’s revenue from operations rose 14% to ₹61,378 crore in the reporting period as against ₹53,530 cr in the last year period. The company’s operating profit margins shrank 210 basis points in the second quarter to 8.4%. Tata Motors said India operations showed significant improvement in the second quarter as compared to year-ago period, however the supply chain issues, and commodity inflation impacted the margins. The India business revenues were up 91% over last year and a 130 basis points improvement in operating profit margins during the quarter at 3.9%.
JSW Steel on Monday said its subsidiary, JSW Steel USA, has commenced the phase II upgrade of its plate mill facility located at Baytown in Texas, USA. The project which is expected to be completed by 2023, is being carried out by its subsidiary company JSW Steel (USA) Inc, JSW Steel said in a statement. JSW Steel (USA), a subsidiary of JSW Steel, has commenced the second phase of the project to upgrade its plate mill facility located at Baytown in Texas, USA, the statement said. The project involves addition of a 4-Hi finishing mill, pre-leveler, accelerated cooling system/direct quench, cooling beds and new roll shop, statement said.
Sun Pharmaceutical Industries on Monday announced the availability of Winlevi cream, used for the treatment of acne vulgaris in patients 12 years and older, in the US market. A first-in-class topical androgen receptor inhibitor, Winlevi was approved by the US Food and Drug Administration (FDA) in August 2020. Winlevi is the first FDA-approved acne drug with a first-in-class mechanism of action in nearly 40 years, Sun Pharma said in a statement. It works by inhibiting the effects of androgen receptors in cells of the sebaceous glands (oil producing glands in the skin) to help reduce sebum (oil) production and inflammation. It is suitable for both males and females.
REC: Net Sales at Rs 10,048.02 crore in September 2021 up 14.05% from Rs. 8,810.00 crore in September 2020. Quarterly Net Profit at Rs. 2,692.27 crore in September 2021 up 22.54% from Rs. 2,197.14 crore in September 2020. EBITDA stands at Rs. 8,914.37 crore in September 2021 up 8.77% from Rs. 8,195.60 crore in September 2020. REC EPS has increased to Rs. 13.63 in September 2021 from Rs. 11.14 in September 2020.
The Steel Authority of India (SAIL) share price jumped over 12 percent in the morning session on November 1 after the company declared its September quarter results. The domestic steel giant on October 29 reported an over 10-fold jump in its consolidated net profit at Rs 4,338.75 crore for the second quarter ended September 2021. SAIL had posted Rs 436.52 crore net profit in the year-ago quarter, it said in a regulatory filing.
IndiGo on Monday started six new flights connecting Kanpur with Mumbai, Bengaluru, and Hyderabad, a statement said. The airline said these flights will operate on all days except Sundays. Aviation Minister Jyotiraditya Scindia virtually flagged off the flights on Monday. Kanpur is the 71st domestic city to be connected by IndiGo flights, the statement noted.
Shares of Central Depository Services (India) Limited (CDSL) were trading over 2% higher to ₹1,382 apiece on Monday after announcing its quarter ended September 30, 2021. The standalone net profit surged 80% year-on-year (YoY) to ₹68 crore as compared to ₹38 crore, however, plunged 6% from the previous quarter. CDSL’s total income rose 62% to ₹127.9 crore, up from ₹79 crore in the same quarter last year. CDSL became the first depository to register 4 crore demat accounts in July 2021. 68 lakh demat accounts were opened in Q2FY22, highest ever quarterly addition, (Q2FY21 – 29 lakhs). Value of Securities in Demat Custody (In crores) increased to 35.21 lakh crore as on September 30, 2021.[/vc_column_text][vc_separator][vc_column_text]
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