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Indian share markets open firm
Tue, 28 Jan 09:30 am

Barring Taiwan (down 1.6%), all major Asian stock markets have opened the day on a firm note with Malaysia (up 0.3%) and Indonesia (up 0.4%) leading the gains. The Indian share markets have opened the day on a positive note. Stocks in the realty and consumer durables space are leading the gains.

The Sensex today is up by around 59 points (0.3%), while the NSE-Nifty is down by around 18 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 0.9% each. The rupee is currently trading at Rs 63.10 to the US dollar.

FMCG stocks have opened the day on a mixed note with Hindustan Unilever Ltd (HUL) and Lakshmi Energy leading the losses. However, Godrej Consumer Products Ltd (GCPL) and Dabur India are trading in the green. FMCG major Hindustan Unilever has announced its results for the third quarter of the financial year 2013-14 (3QFY14). The company's sales stood at Rs 70,378 m during the quarter, higher by 9.4% year-on-year (YoY). Operating profits increased by 12.7% YoY to Rs 12,268 m. Operating profit margins improved from 16.4% in 3QFY13 to 17% in 3QFY14. Depreciation charges and interest expenses increased by 8.7% YoY and 141.7% YoY respectively. At the bottomline level, net profit increased by 21.9% YoY to Rs 10,623 m. Net profit margins expanded from 13.1% in 3QFY13 to 14.7% in 3QFY14.

Credit rating stocks have opened the day on a firm note with ICRA Ltd, CRISIL Ltd and Credit Analysis and Research Ltd (CARE) trading in the green. Credit rating agency ICRA has announced its results for the third quarter of the financial year 2013-14 (3QFY14). The company's sales stood at Rs 425 m during the quarter, higher by 10.6% year-on-year (YoY). Operating profits increased by 20% YoY to Rs 186 m. Operating profit margins improved from 40.3% in 3QFY13 to 43.8% in 3QFY14. At the bottomline level, net profit increased by 15.6% YoY to Rs 122 m. Net profit margins expanded from 27.4% in 3QFY13 to 28.6% in 3QFY14. During the nine month period ended December 2013 (9MFY14), sales and net profits increased by 10.7% YoY and 20.8% YoY respectively.

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