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Pharma stocks lead the gains
Thu, 22 Jan 11:30 am

After opening in the green, the Indian Indices have remained above the dotted line in the morning session. Pharma and engineering stocks are leading the gainers.

The BSE-Sensex is trading up 126 points. The NSE-Nifty is trading up 27 points. The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up 0.5%. The rupee is trading at 61.67 to the US dollar.

Auto stocks are trading mixed today. While Ashok Leyland is the leading gainers; TVS Motors is the leading losers. According to a leading financial daily, the country's leading domestic automobile makers, Tata Motors and Mahindra & Mahindra (M&M), await the Indian Army's announcement on new sports utility vehicles (SUVs). The choice is between the Tata Safari Storme and the Mahindra Scorpio. The army is expected to announce an initial order of about Rs 5 bn for almost 5,000 vehicles in the next few weeks. In all, the order is likely to be worth Rs 30 bn for 30,000 SUVs over a 10-year period. Executives from M&M and Tata Motors are expected to meet army officials for final price negotiations.

Media stocks are trading mixed today. While TV Today Network is the leading gainers; Sun TV is leading the losers. Zee Entertainment Enterprises has reported a consolidated net profit of Rs 3 bn for the December 2014 quarter, up 43% from Rs 2.1 bn in the year-ago period. The company's revenue grew 15 %to Rs 13.6 bn from Rs 11.8 bn. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin for the quarter stood at 25.9% while the profit after tax margin was 22.5%. Operating profit rose 22 % to Rs 3.5 bn in the third quarter of FY15 from Rs 2.9 bn in the corresponding quarter in the previous financial year. Subscription revenue showed a 2.3% dip on a year-on-year basis at Rs 4.4 bn, compared to Rs 4.56 bn a year ago. The dip has come on the back of soft growth in domestic subscription (Rs 3.4 bn), partially offset by international subscription revenues (Rs 1 bn).

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