Speaking to Business Standard, Nicholas Matten, managing director, Hansgrohe India, said, ?As of now we have 40 per cent of the imported bathroom fittings and showers segment in India. The presence of Hansgrohe employees in India will help in developing the market.?
The German plumbing manufacturer has set up a 100 per cent wholly owned subsidiary in Pune.
According to experts, imported showers and fittings account for 15 per cent of the Rs 1,000 crore organised Indian sanitary market, and are expected to grow by 30-40 per cent over the next three years. This growth is largely driven by increased spending in the residential and commercial housing sector.
?India has become a priority market for us and we hope that by 2010, it will become the biggest export market for us,? Matten added.
Hansgrohe, which has been present in India since 1999 in cooperation with Jaquar & Company ? a national manufacturer of bathroom fittings ? will continue to sell the German brand in India.
The company has introduced three of its premium and luxury brands - Hansgrohe, Axor and Pharo - in the country.
?The aim of establishing the subsidiary is mainly to undertake both below the line and above the line marketing initiatives to establish the brands in India. The new facility in Pune will be followed by offices in key cities such as New Delhi, Bangalore and Chennai,? Matten said.
On the issue of the high import duty, he said, ?Since all importers are facing the same duty structure, competition in this segment is not an issue for us. We are not looking at domestic players as our competitors.?
Aimed at the top-end property dealers, hotels and luxury real estate sellers, Hansgrohe is positive that the burgeoning middle-class will also become a big consumer of its products.
Hansgrohe's economic range of complete bathroom accessories ranges between Rs 18,000 and Rs 45,000. Its Raindance range of showers vary from 7 inches to 24 inches diameter, at a price range between Rs 18,000 and Rs 2,40,000.
BSE Sensex(8965.20) and Nifty(2714.40) closed 1.4% and 1.5% down last week.Inflation was also under control 8.40 v/s 8.84 last week.Crude oil was at 43$.Market recovered from low levels on hopes of Repo and Reverse Repo cut by Reserve Bank Of India.Positive statement by Mr. Subbarao, Governer Reserve Bank Of India that fundamentals of Indian economy are strong and have minimal impact of global meltdown. prevented free fall in the market .Easing liquidity since mid November and steps to stimulate the economy some measures will be taken on Saturday 6th December also lended some support to the market.Late Friday evening Government reduced the price of petrol by 5 Rs/litre and diesel by 2 Rs/litre following reduced crude prices in international markets.NSE has announced to increase the lot sizes of Future & Option Stocks since value of most stocks has reduced drastically.DEFTY will also strat trading in the month of December which will help liquidity and increase the volumes.DEFTY is a NIFTY in Dollar term which will help FII's to hedge NIFTY in dollar term.Support for Sensex is 8520 and for Nifty 2580.Resistance for Sensex is 9380 and Nifty is at 2840. Selling of FII was visible..Nifty put-call ratio was 0.77.Nifty 2600 put added open interest.Tata Motors and ONGC added open interest.Reliance and L&T lost open interest.
Strategy for Future Option players.
Future Option na kheladio mate
1)RPL(72.50) Lot Size-1675 Shares. Buy one call option of December month strike price 70@5.45 Rs. Sell one call option of December month strike price 75@3.00 Rs. Premium Paid=5.45*1675=9128.75 Rs. Premium Received=3*1675=5025.00 Rs. Net Premium Paid=9128.75-5025.00=4103.75 Rs. Maximum Profit=75-70=5*1675=8375.00-4103.75=4271.25 Rs. Maximum Loss=4103.75 Rs. Break-even=72.45 Rs.
2)MTNL(73.55) December month future-Lot Size 1600 shares. Buy one lot December month future@73.55 Sell one call option of December month strike price 80@1.55 Rs. Premium Received=1.55*1600=2480.00 Rs. Max Profit=80-73.55=6.45*1600=10320.00+2480.00=12800.00 Rs. Max loss=Unlimited.
Trading Idea
1)ACC(427.05)Buy this stock in decline and trade. 2)ESCORTS(32.85)Buy this stock in decline and trade.
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