The stock of Divis Laboratories is up 10 per cent over the last couple of trading sessions on expectations that the worst is behind and the company could see a sequential growth in the March quarter of the 2022-23 financial year (Q4FY23). The stock witnessed the highest downgrades among Nifty50 index stocks with earnings cuts over a third after the Q3FY23 results. The company had posted a 32 per cent drop in revenues over the year ago quarter in Q3FY23 and 8 per cent sequentially, which was sharply lower than Street expectations.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
The stock of the retail chain Avenue Supermarts (Dmart) was the biggest loser in the BSE 100 Index shedding 4.35 per cent on Thursday and added to these losses on Monday by falling an additional 1.3 per cent. The Street was reacting to lower than expected operational performance by the company in the March quarter. The country's largest listed retailer by market capitalisation reported a 20 per cent year-on-year (y-o-y) growth in its top line to Rs 10,337 crore.
In the run-up to Apple CEO Tim Cook's visit to India, government officials are finalising the talk points with the Cupertino-headquartered tech major. Officials said that the government would like Apple to "deepen" the company's engagement in the manufacturing and assembly of iPhones in the country and not limit itself only to the minimum commitments made under the production-linked incentive (PLI) scheme for mobile devices. The conversations between the two sides are likely to focus on that.
India doubled its exports of smartphones to $11.1 billion (about Rs 91,000 crore) in 2022-23 (FY23) over the previous year's figure of $5.48 billion (Rs 45,000 crore), thanks largely to the Apple juggernaut, according to data from the India Cellular and Electronics Association (ICEA). Union Minister for Communications, Electronics & IT Ashwini Vaishnaw said: "With the doubling of exports of smartphones to over Rs 90,000 crore, India is well on its way to becoming a leader in the global mobile device market." On the flip side, despite the government prodding Chinese companies to export more, their smartphone shipments fell steeply by 26 per cent from $214 million in FY22 to $157 million in FY23.
The impact of AI automation in India is the lowest.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
The stock of auto component major Bosch was up 2.5 per cent on Wednesday and in the process hit its 52-week high. Expectations of higher volumes of medium and heavy commercial vehicles' (M&HCV), rise in content supplies on account of BS VI stage 2 implementation from April, and improved profitability are some of the positives for the stock. In addition to this, the company appointed a new managing director and joint managing director last week, which will come into effect from July 1.
Brokerages have cut their estimates of listed diagnostics players for the financial year 2023-24 (FY24) after mixed December quarter results and muted near-term outlook. Their volumes and realisations will be under pressure due to weakness in Covid-adjusted performance and higher competitive pressures, the brokerages believe. In a post-Q3 results note on Dr Lal Pathlabs, Bhavesh Gandhi of YES Securities pointed out that there has been a lack of volume revival in recent quarters, with an increasing likelihood that FY24 too would be a work-in-progress year for the company's initiatives to bear fruit.
India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
The government has asked industry to provide a list of Chinese suppliers that would like to shift some capacity to India provided they are willing to set up JVs with Indian companies.
Since its October high last year, the stock of innerwear major Page Industries has been on a downtrend, shedding a little over 30 per cent of its market value. Higher competitive intensity, muted volumes, pressure on margins, and rich valuations have led to downgrades for the stock. The October-December quarter (third quarter, or Q3) performance was lower than the Street's expectations - both on volumes/sales and margins.
Even as most of its large-cap pharmaceutical peers have struggled to stay above water on the returns front, Zydus Lifesciences has been one of the big outperformers within the sector over the past year with a return of over 30 per cent. The gains have come on the back of multiple triggers such as the scaling up of new product launches in the US market, clearance for its Moraiya (Gujarat) facility and steady performance in the domestic market. Though it has been the top pharma gainer in the 2022-23 financial year (FY23), brokerages continue to maintain their 'buy' stance, given the strong visibility in the US market.
Abbott India outperformed the Indian pharmaceutical market (IPM) with a year-on-year (YoY) growth of 23 per cent in February. The domestic market grew at a robust 20 per cent on a low base, primarily led by volume growth and price hikes. Abbott continued to outperform the sector in the anti-diabetic space with a growth of 20 per cent and key brands such as Thyronorm (hypothyroidism), biliary agent Udiliv, insulin Ryzodeg posted robust growth.
A top management leadership team from SoftBank has been coming to India in the last few days to meet the founders of start-ups and other investors, signalling the country's emergence as a pivotal market for the global investment giant. Based on current estimates, India accounts for nearly 10 per cent ($20 billion) of SoftBank's invested assets under management (AUM) globally. That makes the country its third largest market after the US and China.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
With raw material prices rising sequentially in Q4 FY23, margins of fast moving electrical goods (FMEG) companies could witness pressure as they refrain from hiking prices and demand remains soft. Transition to a new regulatory regime-fans moved to new BEE standards from January 1-poses additional risk for firms. Business depends on volume trends in summer for key sub-segments, which account for a significant chunk of the sector's overall sales pie.
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent. By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period. Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
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