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Indian share markets open firm
Fri, 31 Oct 09:30 am

Asian stock markets have opened the day on a firm note with the markets in Japan (up 1.9%) China (up 0.9%) and Hong Kong (up 0.9%) leading the gains. The Indian share markets have also opened the day on a firm note. Barring the consumer durables index, all sectoral indices are trading firm with IT and capital goods indices leading the gains.

The Sensex today is up by around 202 points (0.7%), while the NSE-Nifty is up by about 59 points (0.7%). The mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.9% each. The rupee is currently trading at Rs 61.46 to the US dollar.

Cement stocks have opened the day in the green with JK Lakshmi Cement and Birla Corporation leading the gains. Holcim Group company Ambuja Cements Ltd has announced its financial results for the quarter ended September 2014 (3QCY14). During the quarter, the company's standalone net sales grew by 9.1% year-on-year (YoY) to Rs 21,875.5 million. Operating profit increased by 46.9% YoY to Rs 3,934.1 million. Operating margin expanded from 13.3% in 3QCY13 to 17.9% in 3QCY14. At the bottomline level, standalone net profit grew by 44% YoY to Rs 2,390.6 million.

Telecom stocks have opened the day on a firm note with Tata Communication and Idea Cellular leading the gains. Leading Indian telecom player Bharti Airtel has announced its financial results for the quarter ended September 2014 (2QFY15). During the quarter, the company's consolidated net sales grew by 7.1% year-on-year (YoY) to Rs 228,452 million. Operating profit increased by 12.8% YoY to Rs 77,053 million. Operating margin expanded from 32% in 2QFY14 to 33.7% in 2QFY15. At the bottomline level, consolidated net profit grew by 170.2% YoY to Rs 13,832 million.

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