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Global cues, hopes of healthy macro data lift equity indices




Mumbai, June 12: Global cues and expectations of a healthy macro-economic industrial production data aided the key Indian equity indices to close Tuesday’s trade session on a positive note.

In terms of global cues, market analysts cited the historic meet between US President Donald Trump and North Korean leader Kim Jong-un as a major sentiment booster for investors.

Donald trump Kim Jong un

In addition, expectations of a healthy industrial production data for April also enhanced investors’ risk-taking appetite and led to a pick-up in healthcare, capital goods and banking stocks.

However, caution over a possible rise in retail inflation levels due to higher crude oil prices capped gains.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,842.85 points — up by 55.90 points or 0.52 per cent — from its previous close of 10,786.95 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,525.30 points, ended in the green. It settled at 35,692.52 points — higher by 209.05 points or 0.59 per cent — from its previous session’s close of 35,483.47 points.

The Sensex touched a high of 35,743.08 points and a low of 35,479.07 points during the intra-day trade. The BSE market breadth was bullish with 1,440 advances and 1,224 declines.

“Markets rallied strongly on Tuesday on buying in index heavyweights. Sentiments were boosted after Trump and Kim Jong Un signed an unspecified document in Singapore,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

Geojit Financial Services’ Head of Research Vinod Nair said: “Market edged higher supported by positive outcome from US-N.Korea summit which may lead to an end of conflicts in Korean peninsula.

“However, global market remains mixed ahead of US Fed, ECB (European Central Bank) and BoJ (Bank of Japan) policy meeting during the week.”

On the currency front, the Indian rupee weakened by seven paise against the US dollar to 67.49, from its previous close at 67.42.

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,168.88 crore while the domestic institutional investors bought stocks worth Rs 1,327.45 crore.

Sector-wise, the S&P BSE healthcare index gained 262.17 points, the capital goods index rose by 220.78 points and the banking index ended 204.94 points higher.

On the other hand, S&P BSE metal index was down by 76.85 points, followed by the basic materials and the telecom indices which were marginally down, by 9.24 points and 3.75 points respectively.

The major gainers on the Sensex were Dr Reddy’s Lab, up 5.23 per cent at Rs 2,190.25; State Bank of India, up 3.36 per cent at Rs 282.85; Hindustan Unilever, up 2.41 per cent at Rs 1,640.45; IndusInd Bank, up 2.41 per cent at Rs 1,950.45; and Hero MotoCorp, up 2.11 per cent at Rs 3,688.75 per share.

The top losers were Bharti Airtel, down 1.98 per cent at Rs 381.05; Tata Steel, down 1.52 per cent at Rs 579.80; Coal India, down 1.49 per cent at Rs 283.50, ONGC, down 1.10 per cent at Rs 171.35 and Yes Bank, down 0.98 per cent at Rs 332.40 per share.




Flipkart, Amazon claim record online festive sales

World’s retail giant Walmart on August 18 completed acquiring 77 per cent equity stake in Flipkart for a whopping $16 billion (Rs 107,662 crore).




Bengaluru, Oct 18 : India’s leading e-tailer Flipkart and its American rival Amazon on Thursday claimed record online sales ahead of Dusshera and Diwali festivals.

“We made a record-breaking business during the five-day sales festival on October 10-14 in diverse categories, including smartphones, electronic gadgets, home appliances, furniture and fashion,” Flipkart said in a statement on Thursday.

The Indian arm of Amazon also said it had record sales across categories during its great Indian festival celebration from October 10-15, with a 12-hour prime early access to its prime members.

“We had an overwhelming response to the fifth edition of the fest, with sales in the first 36 hours surpassing the first wave of last year and exceeded our plans,” said the city-based Amazon.

Both have, however, admitted that maximum sales were in the smart phones category, followed by televisions, laptops, home appliances and fashion in Gross Merchandise Value (GMV).

“We accounted for half of the e-tailer industry’s GMV, driven by higher sales in mobiles and fashion verticals, which grew 70 per cent and 78 per cent,” said Flipkart.

“Smart-phones had their biggest season, with Xiaomi selling over 1 million devices in a day followed by OnePlus with sales of Rs 400 crore in a day and premium phones sales exceeding a month of all India online sales,” said Amazon India head Amit Agarwal.

On the second day of sales, Flipkart began its offers on mobiles and sold one million in the first hour, ending the day with 3 million units.

“Three-in-four mobiles bought during the fest was on Flipkart,” said the Walmart-owned company.

World’s retail giant Walmart on August 18 completed acquiring 77 per cent equity stake in Flipkart for a whopping $16 billion (Rs 107,662 crore).

“We recorded 70 per cent share of the e-tail market in the country to match the scale of marquee retail events and demonstrated our position as market leader,” said Flipkart Chief Executive Kalyan Krishnamurthy.

Flipkart also claimed 85 per cent share of online market in fashion and 75 per cent in large appliances.

Amazon customers from 99 per cent pin codes placed an order in 4 days, with 80 per cent new customers from small towns.

“Large appliances sales in a single day for Amazon exceeded that of first wave for last festive sale; with 50 per cent sales from tier-2 and below towns,” said Agarwal.

One out of 2 Flipkart shoppers used payment options like EMIs and bank offers, driving 60 per cent of its overall sales and enabling customers to upgrade products in categories like mobiles, TVs and laptops.

“Fashion has brought in 40 per cent new customers and enabled us to maintained leadership with 85 per cent share,” added Krishnamurthy.

For Amazon too, fashion was the biggest category in units sold and new customers acquired, with 63 per cent orders from tier-2 and 3 cities.

“Two out of three of our customers benefited from exchange, EMIs and bank offers. New sellers who took part in the fest for the first time saw 300 per cent jump in sales, with 7,000 of them crossing the millionaire mark,” noted Agarwal.


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Reliance Jio posts Rs 681 crore profit in Q2

The subscriber base of Jio as on September 30, 2018 was 252.3 million, with an average revenue per user (ARPU) during the quarter at Rs 131.7 per month.



Jio puts Mukesh Ambani on top of Forbes' Global Game Changers

Mumbai, Oct 17 : Reliance Jio, a subsidiary of Reliance Industries Limited, on Wednesday said it posted a standalone net profit of Rs 681 crore in the quarter through September on the back of (as yet) highest quarterly subscriber addition of 37 million.

It had posted a net loss of Rs 271 crore in the same quarter a year ago.

The company had recorded a net profit of Rs 612 crore in the first quarter of this fiscal year.

The standalone revenue from operations in the second quarter of this fiscal year ending March 2019 stood at Rs 9,240 crore, a massive on-year jump of 50.3 per cent, Reliance Jio Infocomm Ltd said in a statement.

The subscriber base of Jio as on September 30, 2018 was 252.3 million, with an average revenue per user (ARPU) during the quarter at Rs 131.7 per month.

The total wireless data traffic during the quarter was at a record 771 crore GB with per user average data consumption of 11 GB per month. The total voice traffic was 53,379 crore minutes in the quarter.

“Jio was conceived with a mission to connect everyone and everything, everywhere – always at the highest quality and the most affordable price… We have enabled our customers to adopt the digital life, with record consumption of data and use of digital services,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

“We are making rapid progress on the growth of our digital platforms, across new commerce, media and entertainment, agriculture, education, healthcare and financial services, which will further enhance the quality of life and productivity of the people of India,” he added.

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Honda Activa breaches 2 cr sales mark in India



Honda Activa

New Delhi, Oct 17 : Hondas Activa scooter has breached the 2-crore sales mark in India, Honda Motorcycle and Scooter India said on Wednesday.

According to the company, while it took 15 years to achieve the first one crore sales, the recent addition has come in just three years.

“Over 18 years and 5 generations, Honda 2Wheelers India continuously added value to exceed customers’ expectations and making Activa the most preferred choice of Indian 2 wheeler buyers,” said Minoru Kato, President and CEO, Honda Motorcycle and Scooter India.

“We are delighted that Activa partnered over 2 crore Indian families on the move in realising their dreams.”

Honda Activa was launched in 2001.


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