·India December HSBC Mfg PMI at 2 year high
Strong new business reinforces Finance Minister Arun Jaitley's view that the economy will grow 'much better' in 2015/16, while weaker inflation gives the Reserve Bank of India ( RBI) more room to cut interest rates as expected this year. The HSBC Manufacturing Purchasing Managers' Index ( PMI), compiled by Markit, rose to 54.5 in December from 53.3, its highest since end-2012 and its 14th straight month above the 50-mark that separates growth from contraction. The survey also showed input prices slumped to a near six-year low as oil prices tumbled.
·Excise duty hike, cut in non-subsidised LPG: hangover for OMCs
The government raised excise duty on petrol and diesel by Rs2 per litre each, which will be compensated against the benefit OMCs will get from crude oil correction. Hence, the hike will not be passed on to the consumer. Post hike, OMCs are likely to make a profit of around Rs4/liter on petrol and Rs2.5/liter on Diesel. Government intends to allocate the incremental excise duty to fund its ambitious infrastructure development programme, particularly building of 15000-kms of roads, during current and next financial year. This will be negative read through for the OMCs while additional allocations to fund the road projects would be positive for road developers.
·BHEL gains 3% on winning EPC orders
Shares of BHEL gained 3% on BSE after the reports that the company has won EPC orders worth Rs3810 crore from Telengana State Power Utility for setting up 1X800 supercritical thermal power plant – Positive for BHEL
·TVS Motor December 2014 dispatch volumes up 20.4% YoY
TVS Motor December 2014 dispatch volumes up 20.4% YoY to 191,880 units; below estimates.TVS Motor reported a 20.4% YoY growth in overall volumes for December 2014 at 191,880 units with growth across all segments. However the growth rates for the motorcycle and scooter segments were lower than expected. Scooter volumes were up 25.3% YoY to 52,411 units on the back of incremental volumes from the recently launched ‘Scooty Zest’.
·Sensitive toothpaste sales stand flat so far in 2015
Sensitive toothpaste sales (very niche category) stood flat so far in 2015 as consumers shifted to low price multi-benefit toothpaste; Sensitive toothpaste market share dropped to 2% in 2015 from 10% in 2014 (as per ac Nielsen data – marginally negative for Colgate Palmolive, while no major impact could be seen on earnings of GSK Consumers.
·Jet fuel rates cut sharply by 12.5% to Rs52,422.9 per kilolitre
Jet fuel rates cut sharply by 12.5% (Rs7,520.2 per kilolitre) to Rs52,422.9 per kilolitre, this sixth cut in Jet fuel rates since august (prices were cut by 11% and 4% in November 2014 and December 2014 respectively) – reduction in ATF prices would result in substantial reduction in losses of domestic airline companies such as SpiceJet, Jet Airways and Air India; sentimentally positive for Jet Airways and SpiceJet.
·Sarda Energy deposits Rs123 crore with Coal Controller
Sarda Energy & Minerals announced that the Company deposited Rs122.69 crore as an additional levy with the Coal Controller as directed by the Hon'ble Supreme Court in its order dated September 24, 2014.With this, the Company has become eligible to participate in the coal block auction process as the payment of additional levy was a precondition for participating in the coal block auction process.
·Auto sales: Maruti, Eicher announce strong volume growth
With the concessional excise duty benefit ending in December, passenger car manufacturers reported strong growth in volumes. Maruti Suzuki led the pack with a 20% growth in volumes.
In the two wheeler segment, TVS Motor posted a 20% growth but volumes were below estimates while Hero MotoCorp post a flat growth in-line with estimates. Tractor volumes continued to remain weak given the poor sentiment.
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