Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector – encompassing paints, pipes, wood panels, tiles, metals, and cement – as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. “The government’s various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
Posts tagged Rediff
Monday Market Crash: Advice For Investors (14-03-2023)
‘Such big falls are quite frequent these days, so do not try to time this market.’ ‘Use big dips to accumulate quality stocks.’
Retail inflation dips marginally to 6.44% in Feb (13-03-2023)
Retail inflation dipped marginally to 6.44 per cent in February, mainly on account of a slight easing in prices of food and fuel items though it remained above the Reserve Bank’s comfort level of 6 per cent for the second month in a row. As per the government data released on Monday, the Consumer Price Index (CPI)-based inflation was at 6.52 per cent in January and 6.07 per cent in February 2022. The retail inflation rate for the food basket worked out to be 5.95 per cent in February, marginally lower than 6 per cent in January.
Investors poorer by more than Rs 4.3 lakh crore (13-03-2023)
Domestic equity investors’ wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points — sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
No govt committee to probe Adani, Lok Sabha told (13-03-2023)
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn’t reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
Sensex tanks 897 points to close below 59K (13-03-2023)
IndusInd Bank was the biggest loser in the Sensex pack, shedding 7.46 per cent, followed by SBI, Tata Motors, M and M, Bajaj Finserv, Axis Bank and Infosys. In contrast, Tech Mahindra was the only winner.
HSBC acquires Silicon Valley Bank’s UK arm for 1 pound (13-03-2023)
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank – which specialised in lending to technology companies – was shut down by US regulators on Friday in what was the largest failure of a US bank since 2008. According to experts, although the UK arm of SVB was small with only around 3,000 business customers, its collapse would have presented a risk for the tech sector which is seen as crucial to Britain’s economic growth.
Inflation slows down packaged tea consumption growth (13-03-2023)
Packaged tea consumption in India has been under pressure due to inflation across the consumption basket coupled with higher tea prices. This is forcing tea drinkers to downtrade, especially in rural areas. Milk prices have also gone up and this has impacted tea consumption along with delayed winters in the north, companies have said. NIQ (formerly known as NielsenIQ) data shows that the packaged tea category grew around 4 per cent in value and volume terms in 2022 compared to 2021.
Improving outlook, upgrades to boost auto cos (13-03-2023)
The S and 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 and 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.
US boutique investment firm GQG overweight on India (13-03-2023)
US-based boutique investment company GQG Partners has shot into limelight with its Rs 15,446-crore Adani wager.