The Indian markets ended the day on a firm note with the BSE-Sensex closing higher by about 273 points or 0.9%, while the NSE-Nifty ended higher by about 74 points or 0.9%. Barring stocks from the consumer durables space, gains were seen across with realty and power stocks leading the pack. Midcaps and smallcaps however closed the day on a weak note.
As compared to last week, the Sensex closed higher by about 4.1%.
Asian stocks ended the day on a firm note, while stocks in Europe were trading positive at the time of writing. The rupee was trading at Rs 61.5 to the dollar at the time of writing.
Stocks of consumer durables companies ended the day on a weak note with Gitanjali Gems, Bajaj Electricals and Videocon Industries leading the pack of losers. Kitchen appliance major, TTK Prestige announced its results for the quarter ended December 2014 recently. The company reported a revenue growth of 4% YoY during the quarter while operating profits fell by 1.3% YoY. Lower other income coupled with higher tax outgo led the company's profits to fall by 5% YoY during the quarter. As for the 9mFY15 period, revenues were up by 8% YoY, while profits fell by 3.5% YoY as compared to the corresponding period of last year. Operating profits rose by 0.6% YoY; margin contraction was largely due to higher other expenses and employee costs (as a percentage of sales). The stock of TTK prestige closed the day lower by 1% YoY.
Stocks of tobacco companies ended the day on a mixed note. VST Industries ending the day on a firm note while ITC and Godfrey Phillips ended with losses. VST Industries announced its results for the quarter ended December 2014 recently. The company reported a revenue decline of 7% YoY during the quarter, while profits declined by 22% YoY. The company felt the impact at the operating level as EBIT for the quarter fell by 26% YoY. All cost heads rose as a percentage of sales during the quarter. EBIT margins came in at 21% versus 26.4% during same period last year. During 9mFY15, the company's revenues and EBIT was higher by 3% YoY and 15% YoY respectively. The stock of VST Industries nevertheless closed the day on a firm note, with a gain of 2% today.