11: 50 am FII view: Andrew Holland CEO, Ambit Investment
Advisors is bullish on Indian equity market and foresees the Nifty touching
9,000 mark by Budget next year. In an interview to CNBC-TV18, he says,
"Over the past few months, I have been travelling around meeting a lot of
high networth individuals (HNIs). What they say is that I am proud to be Indian
again. It is a very powerful statement. I think that will hold us in good state
even through turbulent times in global markets."
He feels that pro-reform Narendra Modi could be able to push tough reforms
going ahead. On macros, he expects the Reserve Bank of India (RBI) to cut rates
by 50 bps in Q1CY15. Sectorally,Holland is playing the theme of buy supplies.
He is also monitoring the performance of banks more closely.
11:30 am Autos fall: Auto stocks are succumbing to selling
pressure on tepid October sales as investors were hoping to rake in strong
growth during the festive season. Shares of Maruti, M&M, Bajaj Auto, Hero
MotoCorp and Tata Motors are down 1-3 percent.
Despite the overall weak auto sales data, Rajiv Bajaj, managing director of
Bajaj Auto is pleased that his company's motorcycle market share in the country
rose to 20 percent. He expects the market share to rise to 23 percent by April.
He says festive season sales have been good, but not extraordinary. Total
sales for October stood at 3.86 lakh units versus 3.99 lakh units
month-on-month (m-o-m), with Discover 150cc sales at around 28,000 for the
month.
The country's largest car-maker Maruti Suzuki India reported a 1.1 percent
decline in total sales in October at 1,03,973 units as against 1,05,087 units
in the same month last year. The company said its domestic sales rose by 1
percent during the month to 97,069 units as against 96,062 units in October,
2013.
Meanwhile, even after a bumper festive sale, Hero MotoCorp did not see much
growth in October trade. It had said it clocked sales of over 10 lakh two-wheelers
during the 37-day festive period, which started on September 25 (first day of
Navratras) and lasted until October 31 2014.
The country's largest two-wheeler maker Hero MotoCorp reported 8.05
percent fall in its sales in October to 5,75,056 units. The company had sold
6,25,420 units of two-wheelers in October 2013. More information please visit
this site www.bigprofitbuzz.com
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