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Budget 2016: Hero Motor back in demand on Budget’s Rural Thrust

Budget 2016: Hero Motor back in demand on Budget’s Rural Thrust

Budget 2016 : The stock of world’s largest motorcycle manufacturer Hero MotoCorpBSE 0.81 % is once again on investors’ radar, thanks to the government’s impetus to stimulate the rural sector, a key market for the company. It is also gaining a foothold in scooter segment — the fastest-growing twowheelers segment. Hero Moto’s stock has outperformed the BSE Auto index by 14% since January after being an underperformer in the past two years. It is among the few stocks in the Nifty, which have not broken their low of August 2013. This is the prime reason why traders have been accumulating the stock over the past three months. The stock is trading at 22% premium to the BSE Auto index based on projected FY17 earnings growth compared with 37.4% average premium in the past five years, according to Bloomberg data. The company reported 22% earnings growth in the nine months to December 2015 despite 3% decline in the volumes. This shows that it has multiple levers to drive profitability. Gross margins improved — for the sixth quarter in a row — to 33.1% in the December quarter. Hero is also gaining foothold in the scooter market by introducing new models such Maestro Edge and...
Budget 2016: Rupee depreciates 10 paise against US dollar

Budget 2016: Rupee depreciates 10 paise against US dollar

The rupee depreciated 10 paise to 68.72 against the US dollar in early trade on Monday ahead of the Union Budget 2016-17 scheduled to be unveiled by the finance minister Arun Jaitley later in the day. The domestic currency had closed at 68.62 against the greenback on Friday. The currency market and rating agencies will keenly be looking at how committed the government is towards the fiscal prudence. “The Union Budget 2016 is expected to balance the seventh pay commission, one rank one pension outflow, bank recapitalisation needs, stimulating rural demand after two years of successive drought, with the need to show fiscal prudence,” said Murthy Nagarajan, Head-Fixed Income Globally, the dollar index, which tracks the greenback against a basket of six major world currencies, fell 0.09 per cent to 98.06. Most Asian currencies fell. The Malaysian ringgit dropped 0.37 per cent to 4.22 against the US dollar. The Korean won declined 0.35 per cent to 1,242.60 against the greenback. The Thai baht (down 0.28 per cent), the Indonesian rupiah (down 0.19 per cent) and the Chinese yuan (down 0.10 per cent) too declined in trade. Bucking the weak trend, the Japanese yen rose 0.54 per cent to 113.39 after the US revised its fourth quarter GDP growth to 1 per cent from 0.70 per cent announced...
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