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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets open firm 
(Wed, 23 Jan 09:30 am) 
 
Asian stock markets have opened the day on a mixed note with stock markets in Malaysia (up 0.4%) and Singapore (up 0.3%) are trading firm. However, markets in Japan (down 0.8%) and China (down 0.4%) are facing selling pressure. The Indian share market indices have opened the day on a firm note. Stocks in the realty and consumer durables space are leading the gains. However, FMCG stocks are trading in the red.

The Sensex today is up by around 58 points (0.3%), while the NSE-Nifty is up by around 16 points (0.3%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.4% each. The rupee is trading at Rs 53.69 to the US dollar.

FMCG stocks have opened the day on a weak note with Hindustan Unilever Ltd (HUL) and Gillette India leading the pack of losers. FMCG major HUL has announced its financial results for the quarter ended December 2012 (3QFY13). Revenues during the quarter stood at Rs 66,548.3 m, higher by 11.7% year-on-year (YoY). The company reported operating profits of Rs 10,887.9 m, higher by 12.2% YoY. Operating margins in 3QFY13 remained almost the same, increasing marginally by 10 basis points (0.1%) to 16.4%. Other income increased by 67% YoY to Rs 1,337.1 m. Interest expenses shot up from Rs 4.5 m in 3QFY12 to Rs 75.3 m in 3QFY13. Net profits during the quarter stood at Rs 8,713.6 m, higher by 15.6% YoY. Net margins improved marginally from 12.7% in 3QFY12 to 13.1% in 3QFY13. During the nine-month period ended December 2012 (9MFY13), revenues and net profits (including extraordinary items) grew by 12.8% YoY and 45.4% YoY respectively. The stock of HUL has opened lower by over 5% from the previous day's closing price.

Cement stocks have opened the day on a mixed note with Shree Cement and JK Lakshmi Cement trading firm. However, Birla Corporation and Mangalam Cement are trading in the red. Leading north Indian cement player Shree Cement has announced its financial results for the quarter ended December 2012. During the quarter, the company's net sales stood at Rs 14,280.3 m, reporting a rise of 19.4% YoY. The rise in the topline was driven by 87.9% YoY growth in power sales. Cement sales grew marginally by 3.2% YoY. The company's operating profits grew by 11.9% YoY to Rs 3,716.9 m. Operating margins during the quarter stood at 26%, declining by 170 basis points (1.7%) YoY. While other income increased by 87.9% YoY, depreciation charges declined by 65.2% YoY. At the bottomline level, net profits during the quarter stood at Rs 2,174.4 m, higher by 267.4% YoY. During the six-month period ended December 2012, sales and net profits grew by 34.4% YoY and 356.2% YoY respectively.

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May 26, 2017 (Close)

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