Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Wipro disappoints the bourses
Fri, 21 Jan 01:30 pm

Indian indices continue to languish in the red as buying interest in heavy weights remained muted during the previous two hours. Stocks from IT and metal space are trading weak while stocks from the banking, oil & gas and consumer durable space are trading firm.

The BSE-Sensex is down by 21 points while Nse-Nifty is trading 10 points below the dotted line. BSE Midcap is up by 0.46% while BSE Small cap index is up by 0.7%. The rupee is trading at 45.69 to the US dollar.

<>IT stocks are mainly trading weak with Wipro leading the losses. Wipro released its 3QFY11 results. The company has reported a flat 0.6% QoQ growth in sales but a 2.6% QoQ growth in net income. The company witnessed a 4% QoQ growth in the IT services business (76% of total sales) and a 5% QoQ growth in the consumer care & lighting business (9% of total sales). The IT products business (11% of total sales) witnessed a decline of 18% QoQ during the quarter. Operating margins decline by 0.3% QoQ due to lower number of working days as well as lower utilization. The lower operating margins were offset by higher other income and lower interest expenses. But tax rates for the quarter stood at 16.5% as compared to 14.6% in the previous quarter.

The company's attrition rate rose to 21.6% as compared to 19.4% for the preceding quarter. It declared an interim dividend of Rs 2 per share.

Banking stocks are currently trading firm led by Bank of India, SBI, ICICI Bank and PNB. The stock of Yes Bank is finding favour amongst investors on the back of the bank reporting a good set of numbers for the quarter and nine month period ended December 2010. During 9mFY10, the bank reported a 65% YoY increase in interest income on the back of a 65% YoY increase in advances. Net interest income grew at a similar pace indicating that the NIMs (net net interest margins) remained flat (2.9% as compared to 2% during the corresponding period last year) during the period. The bank's bottomline grew by 55% YoY in 9mFY11 due to write back of provisioning and higher operating leverage.

As for the quarter ended December 2010, the bank reported an interest income growth of 80% YoY. However, as the net interest expenses increased at a faster pace, the bank's net interest income grew by 53% YoY. Profit growth during the quarter stood at 52% YoY. As of 31st December 2010, the bank's gross NPA level stood at 0.23% and its capital adequacy ratio stood at a comfortable 18.2.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Wipro disappoints the bourses". Click here!


Stock Market Updates

Sensex Zooms 1,030 Points, Nifty Tops 14,980-Mark; HDFC Bank Among Top Gainers (Today's Market)

Feb 24, 2021 Closing

Indian share markets witnessed huge buying interest during the extended closing hours today and ended their day on a strong note.

Sensex Rises 477 Points; Trading Resumes on NSE (Today's Market)

Feb 24, 2021 Special Update

The BSE Sensex is trading up by 477 points, while the NSE Nifty is trading up by 135 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Feb 24, 2021 02:54 PM

SIEMENS share price has hit an all time high at Rs 1,922 (up 1.7%). The BSE CAPITAL GOODS Index is up by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 1.7%) and HONEYWELL AUTOMATION (up 1.9%). The top losers include HAVELLS INDIA (down 0.2%) and GRAPHITE INDIA (down 0.2%).

MUTHOOT FINANCE Share Price Down by 6%; BSE 500 Index Up 0.5% (Today's Market)

Feb 24, 2021 02:36 PM

MUTHOOT FINANCE share price is trading down by 6% and its current market price is Rs 1,315. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are INDIAN OVERSEAS BANK (up 10.0%) and BANK OF MAHARASHTRA (up 10.0%). The top losers are MUTHOOT FINANCE (down 5.8%) and HIMADRI SPECIALITY CHEMICAL (down 5.4%).

ZENSAR TECHNOLOGIES at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Feb 24, 2021 01:02 PM

ZENSAR TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 282. BSE 500 Index is up by 0.5% at 19,684. Within the BSE 500, ZENSAR TECHNOLOGIES (up 5.3%) and NAVA BHARAT VENTURES (up 11.2%) are among the top gainers, while top losers are MAGMA FINCORP and RELIANCE POWER.

Sensex Trades Over 200 Points Higher; Dow Futures Down by 103 Points (Today's Market)

Feb 24, 2021 12:30 pm

BSE Sensex is trading up by 226 points, while the NSE Nifty is trading up by 113 points.

View More Indian Share Market News

Most Popular

Intraday Trading for a Living(Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Penny Stock Master Series: The Quest for 10X Profits in 10 Years(Profit Hunter)

Feb 12, 2021

This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021(Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla(Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Feb 24, 2021 (Close)