BestMate Advisory & Consulting Pvt Ltd

08/08/2020

Mahindra & Mahindra has bailed out from the bid to manufacture small delivery trucks for the United States Postal Service that is worth $6.3 billion. The company has written off the investment it had made towards this project, a top official of the company said.
Mahindra Automotive North America (MANA), a subsidiary of Mahindra & Mahindra, was looking to set up a plant in Michigan in the US and had even signed a letter of intent with the RACER Trust, the Indian automaker had said in August 2019.

Anish Shah, deputy managing director and Group CFO, M&M said: “The $500 million investment by us in MANA was subject to us winning the US postal services bid. We chose not to participate in that bid. We were shortlisted as the final four. What had been invested so far was a very small amount which was essentially in preparation of the bid and all of that has been written off."

The company claims that the investment in MANA would not have met the return on equity of 18 percent targeted by it. This move comes less than a quarter after M&M decided to stop fresh investments in its loss-making subsidiary SsangYong Motor Company and the shutdown of Genze, an electric two-wheeler manufacturing business in the US.

06/08/2020

A good fund and a consistent track record of any fund house will definitely deliver.....

02/08/2020

01/08/2020

Auto monthly sales data – Eicher inline … Ashok Leyland better than expectation



· Eicher Motor July sales at 40334 unit, up 6% (MoM), declined 25% YoY – expectation 41722 unit – inline

· Ashok Leyland July sales at 4775 unit, up 40% (MoM), declined 56% YoY – expectation 3111 unit – ahead of expectation

01/08/2020

Auto monthly sales data – Hero inline … TVS marginally better than expectation



· Hero Motocorp July sales at 514509 unit, up 14% (MoM), declined 4% YoY – expectation 535810 unit – inline

· TVS Motor July sales at 252744 unit, up 27% (MoM), declined 10% YoY – expectation 240205 unit – marginally ahead of expectation

31/07/2020

All time high Pharma stocks after strong quarterly results… Positive for Laurus Labs, Sun Pharma, Glenmark, Aurobindo, Ajanta, IPCA



· Pharma stocks are witnessing smart rally after strong quarterly results announcement. Most of the Pharma players like Dr Reddy, Torrent Pharma, Ajanta Pharma, Cipla, Laurus Labs announced better than expected Q1 results. Torrent Pharma surged 9% to all time high of Rs2662. Both IPCA and Laurus Labs gained 6% each. Dr Reddy, Cipla, Divi’s Lab, IPCA Labs, Laurus Labs are all time high today.

· Moreover, the Govt is preparing a plan to boost pharma R&D. The government issued the guidelines for the production-linked incentive (PLI) and manufacturing cluster schemes for boosting domestic production of bulk drugs and medical devices, with an aim to reduce dependence on imports, especially for bulk drugs from China

30/07/2020

The domestic stock market ended Thursday's trade, the last day of the futures and options contracts (F&O) for the July series, in the red, mainly due to selling in the financial counters.

The S&P BSE Sensex slipped 335 points, or 0.88 per cent, to settle at 37,736 levels. IndusInd Bank (down over 5.6 per cent) ended as the biggest loser on the index while Sun Pharma (up nearly 3.5 per cent) emerged as the top gainer.

NSE's Nifty ended at 11,102, down 101 points, or 0.9 per cent. Volatility index, India VIX, gained over 3 per cent to 24.90 levels.

Among individual stocks, HDFC ended nearly 4 per cent lower at Rs 1,811 on the BSE after the company reported a standalone net profit of Rs 3,051.52 crore for June quarter of FY21 (Q1FY21), clocking a 4.7 per cent year-on-year (YoY) de-growth from Rs 3,203.1 crore-profit reported in Q1FY20.

BPCL slipped nearly 8 per cent to Rs 419 after the government for the third time extended the deadline for bidding for the privatisation of the oil refiner by two months to September 30.

In the broader market, the S&P BSE MidCap index ended 0.38 per cent lower to 13,710 levels while the S&P BSE SmallCap index ended at 12,916, down 56 points, or, 0.43 per cent.

On the sectoral front, barring Nifty IT and Nifty Pharma, all the other indices ended in the red