Electrifying two & three-wheelers by 2024
- A report by rating agency CRISIL stated that around 43-48% of new three-wheelers and up to 17% of the new two-wheelers sold in the country by 2024 could be electric vehicles
- The report also states that in the commercial vehicles space, subsidies to state transport undertakings will drive sales of electric buses for intra-city operations
- According to news reports, the govt has given an ‘in-principle nod’ to firms including NTPC, EESL and REIL, to setup 2,600 charging stations for electric vehicles (EVs) by 2021
- This will ensure that charging infrastructure will be available at every four kilometres in big cities within a year
The Electric Mobility smallcase comprises of companies that are investing in the electric vehicle ecosystem and are expected to grow with growth in electric vehicles ecosystem.
Housing market sees upward momentum in sales
- According to a report released by data analytics firm Liases Foras, 58% of the sales of residential units in quarter III of 2019-20 were contributed by apartments priced below Rs 50 lakh
- Sales of apartments priced below Rs 50 lakh has shown a 3% growth on YoY and a 7% growth on QoQ basis
- 92,409 units were launched across the top 35 cities during the period. 66% of these launches were made in the sub-50 lakh category
- In related news, RBI’s decision to extend project loan restructuring by one year, without downgrading the asset classification in case of project delay for reasons beyond the control of realtors has been welcomed by industry participants
- Anuj Puri of ANAROCK Property Consultants said that the decision will ease liquidity concerns, allow developers to manage their cash flows and complete stuck projects
The Affordable Housing smallcase consists of stocks from segments like housing finance companies focused on financing low and middle income segments, real estate developers constructing affordable houses and cement & building products companies.
- Concerns around the outbreak of coronavirus and Supreme Court’s rejection of telecom companies’ plea seeking new schedule of adjusted gross revenue (AGR) payments weighed on market sentiment this week.
- Nifty closed at 12,113.5 gaining 0.12% over the previous week. Sensex gained 0.28% and closed at 41,257.7.
- Nifty Midcap 100 and Nifty Smallcap 100 both closed in the red this week.
- India’s industrial production fell 0.3% from a year earlier in December 2019, missing forecasts of a 1.8% advance.
- Consumer price inflation in India increased to 7.59% in January of 2020 from 7.35% in December, above expectations of 7.4%.
- The inflation accelerated for the 6th straight month to the highest since May of 2014.
- Wholesale prices in India rose 3.1% YoY in January 2020, following a 2.59% gain in the previous month and above market expectations of 2.92%.