BSE-Sensex is up 83 points and NSE-Nifty is trading 13 points up. Midcaps and smallcaps are too trading firm with BSE Mid Cap and BSE Small Cap indices trading higher by about 0.71% and 0.34% respectively. The rupee is trading at 61.49 to the US dollar.
FMCG stocks are trading mixed today. Nestle and ITC Ltd are the leading gainers while Godrej Consumer Products and United Spirits are the major losers. Colgate Palmolive has announced results for the quarter ended December 2014. Its net profit jumped 16% year-on-year to Rs 1.3 bn, driven by strong operational performance. Advertising spends dropped 2.2% Y-o-Y to Rs 1.8 bn during the quarter. Total income grew 11.8% to Rs 9.9 bn in the December quarter from Rs 8.9 bn in the year-ago period. The growth was backed by 5% growth in offtake. Other income was down 40.5% at Rs 96 m from Rs 162 m during the same period. Colgate stock is presently trading up 0.6%.
Most of the public sector stocks are trading in the red with Union bank and Oriental bank being the biggest losers. According to a leading financial daily, State Bank of India has signed a loan agreement for 100 m Euro (Rs 7 bn) with European Investment Bank (EIB). This is the third tranche of a total sanctioned loan of 200 m Euro by EIB. The loan will be utilized to support the development of private sector, in particular SME's social and economic infrastructure as well as climate change mitigation and adaptation in the country. The agreement was facilitated by SBI Capital Markets, a subsidiary of State Bank of India.