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Sensex Opens Flat; Capital Goods & Realty Stocks Drag
Mon, 21 Jan 09:30 am | Rini Mehta, TM Team

Asian stock markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.8% while the Hang Seng is up 0.4%. The Nikkei 225 is trading up by 0.5%. US stocks rallied on Friday, helping Wall Street's major indices advance for the fourth consecutive week.

Back home, India share markets opened on a flat note. The BSE Sensex is trading up by 11 points while the NSE Nifty is trading down by 20 points. The BSE Mid Cap index opened up by 0.1% while BSE Small Cap index opened down by 0.1%.

Sectoral indices have opened the day on a mixed note with power stocks and metal stocks witnessing maximum buying interest. While, capital goods stocks and realty stocks have opened the day in red.

The rupee is currently trading at Rs 71.25 against the US$.

Bank stocks opened the day on a mixed note with J&K Bank & IDFC First Bank leading the gainers. HDFC Bank on Saturday reported a 20.3% growth in net profit to Rs 55.9 billion for the third quarter ended 31 December, mainly on higher net interest income.

The bank had posted a net profit of Rs 46.4 billion in the October-December quarter of the last financial year.

Total income rose to Rs 308.1 billion during the December quarter against Rs 244.5 billion in the year-ago period.

Net interest income (interest earned less interest expended) for the quarter ended 31 December 2018 grew by 21.9% to Rs 125.8 billion, from Rs 103.1 billion for the quarter ended 31 December 2017, driven by asset growth of 23.7% and a core net interest margin for the quarter of 4.3%.

During the quarter, gross non-performing assets (NPAs) rose to 1.4% of the total advances, compared with 1.3% at the end of the third quarter of 2017-18. Net NPAs of the bank declined to 0.4% of the assets in October-December 2018, against 0.4% a year ago.

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However, the bank's provisions (other than tax) and contingencies increased significantly to Rs 2211.5 billion against Rs 13.5 billion reported in the corresponding period of the previous financial year. Provisions for the quarter ended December 2018 include a charge of Rs 3.2 billion towards contingent provisions.

Further, the lender's total capital adequacy ratio (CAR) as per Basel III guidelines was at 17.3% as on December 2018 (15.5% as on December 2017) against a regulatory requirement of 11.025%, which includes a capital conservation buffer of 1.875%, and an additional requirement of 0.15% due to the bank being identified as a Domestic Systemically Important Bank (D-SIB).

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Valuepro team had recommended HDFC Bank in 2012 and this stocks is going great guns even now.

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HDFC Bank share price opened the day up by 0.2%.

Moving on to the news from pharma sector. As per an article in a leading financial daily, Wockhardt has received approval from the United States Food & Drug Administration (USFDA) for an Abbreviated New Drug Application (ANDA) for 100mg and 400mg tablets of Imatinib Mesylate.

These tablets are used to treat many kinds of cancers and tumors. The product is being manufactured at a contract manufacturing facility, based near Hyderabad, India.

Reportedly, Wockhardt's Imatinib Mesylate tablets are a generic version of Gleevec, marketed in USA and other countries by Novartis.

According to IMS MAT data, the product has sales of US$707 million in the US.

Note that, Wockhardt is building a portfolio of oncology products in the US and has several pending ANDA's for oncology products.

Wockhardt share price opened the day up by 1.4%.

To know more about the company, you can access to Wockhardt's Q2FY19 result analysis and Wockhardt's FY18 annual report analysis on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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Stock Market Updates

QUESS CORP. LTD Plunges by 5%; BSE IT Index Up 0.1% (Today's Market)

Feb 19, 2020 03:32 PM

QUESS CORP. LTD share price has plunged by 5% and its current market price is Rs 585. The BSE IT is up by 0.1%. The top gainers in the BSE IT Index are FIRSTSOURCE SOL. (up 4.7%) and TATA ELXSI (up 3.7%). The top losers is QUESS CORP. LTD (down 5.4%).

VOLTAS at All Time High; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Feb 19, 2020 03:18 PM

VOLTAS share price has hit an all time high at Rs 736 (up 6.1%). The BSE CAPITAL GOODS Index is up by 0.3%. Among the top gainers in the BSE CAPITAL GOODS Index today are VOLTAS (up 6.1%) and SCHAEFFLER INDIA LTD (up 0.4%). The top losers include DILIP BUILDCON LTD (down 0.1%) and LAKSHMI MACHINE (down 0.2%).

OIL INDIA Surges by 5%; BSE OIL & GAS Index Up 1.6% (Today's Market)

Feb 19, 2020 03:18 PM

OIL INDIA share price has surged by 5% and its current market price is Rs 139. The BSE OIL & GAS is up by 1.6%. The top gainers in the BSE OIL & GAS Index is OIL INDIA (up 5.2%).

WOCKHARDT Surges by 11%; BSE HEALTHCARE Index Up 2.0% (Today's Market)

Feb 19, 2020 03:04 PM

WOCKHARDT share price has surged by 11% and its current market price is Rs 374. The BSE HEALTHCARE is up by 2.0%. The top gainers in the BSE HEALTHCARE Index are WOCKHARDT (up 11.1%) and IPCA LABS (up 5.9%). The top losers are PROCTER & GAMBLE HEALTH (down 0.1%) and SANOFI INDIA (down 0.2%).

NIPPON LIFE INDIA AMC Surges by 10%; BSE 500 Index Up 1.2% (Today's Market)

Feb 19, 2020 03:02 PM

NIPPON LIFE INDIA AMC share price has surged by 10% and its current market price is Rs 433. The BSE 500 is up by 1.2%. The top gainers in the BSE 500 Index are NIPPON LIFE INDIA AMC (up 10.0%) and AUROBINDO PHARMA (up 19.0%). The top losers are OBEROI REALTY and FINOLEX CABLES .

Indian Indices Trade Higher; Nestle & Reliance Industries Top Gainers (Today's Market)

Feb 19, 2020 12:30 pm

The BSE Sensex is trading up by 281 points, while the NSE Nifty is trading up by 87 points.

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