Maruti Suzuki total sales up 20.1% to 121,712 units in July

 Maruti Suzuki India Saturday said its total sales rose 20.1% to 121,712 units in July 2015 compared with total sales of 101.380 units same month a year ago.

  The car maker said in July, it sold total 110,405 units in the domestic market and 11,307 units in exports.

  This has taken the total sales so far till July in the current fiscal year to 463,041 units, up 15.4% from a year ago period.

  In the passenger car segment, Maruti Suzuki July sales rose 25.9% to 91,602 units from a year ago period, while utility vehicles sales rose to 6,916 units in July, up 22.8% from a year ago period.  

   

Edible oil/weekly:Soybean may fall on oversupply woes, weak soymeal demand

 Soybean prices may extend fall for a fifth-straight trading week on expectation of higher supply in domestic and international market and on declining demand for soymeal in export market, said analysts.

  "Soybean prices may fall on higher supply in domestic and from United States and on weak demand for soymeal," said Ajay Kumar Kedia an analyst with Kedia Commodities.

  Prices of the bean will be under pressure on oversupply woes following robust sowing data, said analysts.

  With the revival of monsoon during the second half of this month the overall sowing and crop conditions are comfortable in the country though deficient rainfall in some parts of the country is a concern.

  Kharif crop sowing stood at 76.48 million hectare until July 31, up 9% on year due to timely onset of monsoon and excess rains in June.

  Soybean area coverage during last week is higher by 1.07 million hectare to 10.63 million hectare compared to 9.56 million hectare in corresponding period of kharif 2014.

  Prices of the bean will also under pressure on expectation of higher supply from United States after the United States department of agriculture (USDA) rose 2015-16 United States soybean production forecast in its World Agriculture Supply and Demand Estimates report.

  The USDA hiked US, the world's biggest bean grower, 2015-16 production estimates to 105.7 million tons compared to 104.8 in the previous month estimates and 108 million tons a year ago.

  Prices of the bean will also be down on weak demand for the Indian soymeal in export market, said analysts.

  India soymeal exports in the month of June dropped 20.43% from a year earlier on higher prices of the soybean in the local market, data released from Solvent Extractors Association of India (SEA) showed today.

   Soybean oilmeal exports dropped to 2,098 tons in June compared to 2,637 tons for the corresponding period a year earlier, data from SEA of India showed.

  Soybean for August delivery traded in Rs 3,222-3,317 per 100 kilogram range in the past five trading sessions. Soybean for August delivery is expected to trade in Rs 3,060-3,380 per 100 kilograms on the National Commodity & Derivative Exchange next week.

  Crude palm oil may trade flat next week on on subdued demand for the oil in export market following weak Malaysia palm oil export data and on short covering, said analysts.

  Malaysia palm oil exports during July 1-20 dropped 15.52% compared to a month earlier on weak demand from China, India & Subcontinent and European Union.

  Malaysia palm oil exports slipped to 907,574 tons during July 1-20 compared to 1.07 million tons for the same period a month ago, Dow Jones reported citing data from Intertek, a private surveyor.

  Prices of the palm oil will also be down on higher supply in domestic market following robust imports data, said analysts.

  Crude palm oil imports climbed 11.54% to 571,495 tons in June compared to 512,358 tons in the same period a month ago, data release from the Solvent Extractors Association (SEA) of India showed.

  However, sharp fall in the crude plam oil prices will be cushioned by buying at lower level after prices plunged to near 3% in past two-trading weeks, said analysts.

  Domestic palm oil for August delivery slumped nearly 3% and traded in range of Rs 433.8-416.4 per 10 kilograms on the MCX, on weak demand.

  CPO for August delivery in the past five sessions traded in Rs 416.40-426.80 per 10 kilograms and may trade in Rs 412-434 per 10 kilograms range on the MCX in next week, said Harshal Mehta a techical analyst with Nirmal Bang.

  Soyoil prices may also fell next week on oversupply woes following robust imports, said analysts.

  Prices of the soyoil will be under pressure on oversupply woes following robust production data from Argentina, the world's third biggest soyoil producer, said analysts.

  The country produced 3.6 million tons of soy oil in the first half of the year, 3.5% more than the same period last year, the ministry data showed.

  India's soyoil imports jumped to 154,090 tons in June compared to 99,682 tons for the same period a year ago, data released by the SEA of India showed.

  Soyoil traded in Rs 565-579.50 per 10 kilogram range in the past five trading sessions. Soyoil for August delivery is expected to trade in Rs 564-592 per 10 kilograms rang next week on the National Commodity & Derivative Exchange (NCDEX), said Mehta.

  However, prices of the mustard seed, the main rabi crop, are expected to trade higher in supply worries and on improved China demand, said analysts.   

   According to latest USDA report, global rapeseed production is forecast to decline 3.5 million tons in 2015/16 as a slight decrease in area reduces total output to 68.1 million tons.

  In Europe, Oil World has estimated the production of 22 million tons as compared to 24.1 million tons in 2014/15.

  In domestic market prices of mustard seeds were also supported by lower supply after arrivals were low at 500,000 bags compared to 600,000 bags earlier.

  Prices of rape seed will also be supported by hope of improvement in demand from China after the Chinese government lifts a ban on Indian rapeseed meal which was imposed three years ago on quality concerns, Reuters reported Wednesday citing China's quarantine authority.

  Last month, both the countries have inked a sanitary protocol and agreed to ensure Indian meal meets Chinese standards, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), China's quality watchdog, said in a statement.

  RM seed for August traded in Rs 4,102-4,209 per 100 kilogram range for past five trading session. RM seed for August delivery may trade in Rs 4,140-4,280 per kilogram range next week, said Mehta.

Spices complex seen range bound on lack of export demand

 

  NEW DELHI, AUG 1 Prices in the spices complex seen range bound in the coming week in the absence of fresh export contracts and recent rains in various producing centres, said traders and analysts.

  India received 21% above normal rains during week ended Jul 29, according to India Met Department (IMD).

  Export contracts continued to be negligible as buyers are waiting market to settle down, said traders.

  Earlier traders were expecting that export demand will pick from gulf countries after the Ramzan, said an analyst.

  India is a major producer and exporter of spices. India's spices export grew 9% to 893,920 tons during 2014-15 as against 817,250 tons a year earlier, according to data from Spices Board.

JEERA SEEN DOWN

  Jeera prices may remain under pressure in the absence of export orders and comfortable stocks, said Subhrenil Dey, analyst with SMC Comtrade.

  "Jeera harvest will start in Syria and Turkey, the two other major producers, in August and it may impact demand of Indian jeera," said Dey.

  However, there are conflicting reports about the size of crop and the quality of jeera in the two countries, said a trader.

  Meantime, heavy rains in some parts of Gujarat hit trading activity there, said traders.

  Domestically, there is regular demand and market prices for lower quality jeera and revival of rains in western India may limit the trade operations and prospects of good sowing in next season, said a report from Angel Commodities.

  Jeera September resumed week lower at Rs 15,815 against the precious closing of Rs 15,935 per quintal. The contract fell to Rs 14,940 on Wednesday due to emergence of profit booking and weak buying support.

  However, towards week-end Sept contract recovered partially to Rs 15,475 per quintal on fresh buying.

  As per third advance estimate of Gujarat government jeera production in 2014-15 is estimated at 158,000 ton down 54.3% on year, according to a report from Angel Commodities.

  During 2013-14, the Gujarat jeera output was 346,000 ton, the report said.

  India is the leading jeera producer while Syria and Turkey are the other major producers.

  India's jeera export during 2014-15 rose to 155,500 ton from 121,500 ton a year ago, according to Spices Board.

  In Delhi physical market, jeera Ganesh declined to Rs 15,000-15,100 per quintal from Rs 15,600-15,700 per quintal on increased arrivals amid weak demand.

 

CHILLI MAY RANGE BOUND

  Prices of chilli are likely to move in a narrow range as traders are awaiting the report of sowing with the fresh spell of rains, said traders.

  Sowing of chilli is in progress in Andhra Pradesh and Telangana two main producing states of the country.

  "Initial reports are not promising but sowing may pick up in the coming days," said a trader.

  There were reports of export demand from Bangladesh and Malaysia in Guntur market, the trader added.

  Volume of business continued to be restricted on the National Commodity and Derivatives Exchange (NCDEX) due to lack of any positive report on export front.

  On NCDEX, Chilli Teja Sept contract resumed trading lower at Rs 9,298 per quintal and on Tuesday it recovered to Rs 9,320 on renewed support.

  Later, prices reacted to Rs 9,204 on selling pressure.

  In the Delhi spot market chilli teja ruled unchanged at Rs 10,800-11,000 per quintal.

  India exported 347,000 tons chilli in 2014-15 up 4% on year.

  India's 2014-15 chilli output is projected lower due to adverse weather while exports are rising due to poor output in China.

  Bangladesh, China, Srilanka, Malaysia, gulf countries are some of the major importers of Indian chilli.

CORIANDER- SELLING SEEN

  "Coriander prices may decline in the coming as selling is expected the present higher levels," said Vijay Sharma, a local trader.

  In producing centres of Rajasthan and Madhya Pradesh fresh rains were reported which may help sowing in the coming months, he said.

  "Coriander may decline as no fresh export buying is coming while stockiest may unload their stocks," said Dey.

  Last week, NCDEX has withdrawn the special margin on the commodity but it failed to push the prices up, said a trader.

  On the NCDEX, coriander September contract opened lower by Rs 43 to Rs 12,105 but improved to Rs 12,115 on the same day.

  However, on Thursday, the contract fell to Rs 11,300 on profit booking but later recovered to Rs 11,476 on Friday per quintal.

  In Delhi spot market coriander medium quality steady at Rs 11,500-12,500 per quintal.

India's 2014-15 coriander exports spurted to 46,000 tons up from 24,650 tons a year ago.

TURMERIC MAY DECLINE

  Turmeric prices are likely to remain easy as recent rains may brighten the crop prospects, said Dey.

  Turmeric acreage is reported higher in Tamil Nadu and Maharashtra while sowing operations are going on in Andhra Pradesh and Telangana, said a trader.

  Turmeric sowing in Andhra Pradesh stood at 49,000 hectare until Jul 22 as against 40,000 hectare a year ago.

  In Telangana nearly 63% sowing of turmeric as been completed, said a report of Angel Commodities.

  Turmeric acreage stood at 31,279 hectares in Telangana, the report said.

  Maharashtra, Andhra Pradesh, Telangana, Tamilnadu and Odisha are the main producing centres.

  On National Commodity and Derivatives Exchange (NCDEX), turmeric for September delivery opened marginally lower at Rs 6,972 per quintal and fell to Rs 6,750 on the same day on selling pressure.

  Later prices jumped to Rs 7,292 to close the week at Rs 7,236 per quintal.

  In the Delhi spot market turmeric single polish gattha improved by Rs 200 to Rs 7,600-7,700 per quintal on fresh demand from masala manufacturers.

  India's 2014-15 turmeric export stood at 86,000 ton up from 77,500 ton a year ago.

CARDAMOM MAY UP

  Cardamom prices are likely rule steady with higher possibilities of rising due to good export demand, said Sumit Bairathi.

  New crop supplies have starting rising the producing centre, said a local trader.

  "Exporters are main buyers in auctions to fulfill their export commitments. However, as soon as domestic buyers enter the market, prices will go up," hoped Bairathi.

  Weekly arrivals at auction centres are estimated around 450 ton.

  In the Delhi spot market cardamom Robin was traded at Rs 570-580 per kilogram.

(End)

Raymond net lose narrows in Q1 on higher revenue growth

Raymond after market hours Friday reported narrowing down of its consolidated net loss at Rs 137.2 million for the first quarter ended June 30 on account of high revenue growth.

  The garment maker had posted a consolidated net loss of Rs 328.5 million during the April-June period of previous financial year.

  Raymond's total consolidated income from the operation during the quarter under review increased by 2.27% to Rs 11.22 billion compared with Rs 10.97 billion during the same period a year ago.

  "The current quarter witnessed a subdued consumer sentiment in the domestic market and sluggish demand in the exports market, particularly in the garmenting and automotive segments," said Gautam Hari Singhania, chairman and managing director, Raymond

  Singhania also said that despite these challenges, Raymond has been able to register a marginal top-line growth at the consolidated level and margin improvement at EBITDA level.

  Friday, share prices of Raymond Ltd ended at Rs 469.30, up 1.97% on the Mumbai Stock Exchange.

Shriram Transport Finance Q1 net profit up 5% to Rs 3.21 bln

Shriram Transport Finance Company (STFC) on Friday said its net profit increased marginally by 5% to Rs 3.21 billion in the first quarter ended Jun 30 as the commercial vehicle financier's bottomline was dented by an increase in non-performing loans.

  The company's revenue registered a growth of 17% to Rs 23.52 billion compared with Rs 20.16 billion a year ago.

   Net interest margins, a measure of profitability, improved to 6.76% for the quarter as against 6.54% a year ago, however asset quality worsened in the last three months.

   On a sequential basis, bad loans have gone up to 4.1% of the loan book in the quarter from 3.8 % in March causing the company to make higher provisioning, which went up by 22% to Rs 3.96 billion for the quarter, compared with Rs 3.24 billion previous quarter.

  Friday, share prices of Shriram Transport Finance closed at Rs 890.05, up 3.18%, while the benchmark Sensex rose 1.48% to close at 28,114.56 on the Mumbai Stock Exchange.