Fundamental News & Analysis - 03 OCT 2016

Posted October 3, 2016 by suhanisahani

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Bajaj Auto September 2016 sales numbers almost flat ; nos broadly in line with estimates
· Bajaj Auto overall sales were almost flat declining by 2% yoy to 376,765 units and were above our estimates of 3.63 lakh units.

·Domestic market sales grew strongly 21% yoy with the onset of the festive season and improvement in rural sales.

· Export market continued to remain under pressure(30% drop) posting yet another month of double digit decline.

· Motorcycle sales were almost flat for the month up 0.5% YoY. Domestic motorcycle sales grew 23% yoy helped by new launches while motorcycle exports declined 29% yoy.

· Three wheeler sales declined 17% yoy. Domestic three wheeler sales grew 10% yoy led by entry into the cargo segment while the three wheeler exports dipped 37% yoy.

L&T construction wins order valued Rs6,024crore; positive for L&T

· Power T&D: EPC order of Rs1,721crore

· Water Effluent treatment : orders worth Rs1,497crore

· Building & Factories: Orders worth Rs1,131crore

· Transportation: Orders worth Rs780crore in Middle East

·Infra: orders worth Rs630crore

· Metallurgical & Materials; Orders worth Rs265crore


September 2016 Auto sales trends: The auto sector showed mixed trends in the month of September 2016. While the passenger vehicle segment showed strong double digit growth led by strong festive demand and improvement in rural sales, the MHCV segment showed double digit decline led by the high base of the corresponding month. LCV sales also showed double digit growth led by improvement in the rural demand. Two wheeler players are yet to disclose the sales nos. Outperformers: Maruti Suzuki and Eicher Motors , Underperformers: Ashok Leyland

Sun Pharma announces late-breaking data from two pivotal Phase-3 clinical trials evaluating the safety and efficacy of anti-psoriasis drug tildrakizumab – Long term Positive for Sun; read thru

Jubilant receives USFDA approval for RUBY-FILL; its New Drug Application (NDA) under 505 (b)(2) filing route. The product is expected to be launched in Q3FY2017 , for which the current estimated US market size is US$76mn and has a potential to grow up to US$250mn annually in the next five years. – Big positive for Jubilant Lifescience.

Domestic Gas price cut – to impact negatively on upstream companies (ONGC/OIL) while positive impact on city gas distribution companies like IGL, Gujarat Gas & MGL due to lower quantum cut in CNG/PNG price

State Bank of India: SBI’s Chairman Arundhati Bhattacharya gets a one-year extension as chairman – Positive Read thru

Mahindra Holiday Resorts - In a move to boost its product offerings, Mahindra Holidays & Resorts is acquiring 12% stake in Nreach; it owns a brand 'GIFTXOXO', which offers over 4,000 categories of experiences and activities including travel and adventure, gourmet, health and wellness, art and learning experiences – positive read through for Mahindra Holidays
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Last Updated October 3, 2016