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Indian markets trade flat
Thu, 12 Feb 11:30 am

After opening in the green, Indian markets are trading just below the dotted line during the last two hours of trade. Majority of the sectoral indices are trading on a positive note. Stocks from the realty and auto sectors are the biggest winners while banking and FMCG stocks witnessed maximum selling pressure.

The BSE-Sensex is down by 30 points and NSE-Nifty is up by 5 points. BSE Mid Cap index and BSE Small Cap index are trading up by 1%. The rupee is trading at 62.15 to the US dollar.

Most of the software stocks are trading firm with Infosys and NIIT India leading the pack. According to a leading financial daily, ICA Gruppen, Sweden's largest retailer has decided to opt for Infosys to manage its IT operations. As per the terms of the agreement, Infosys will provide services across application and infrastructure maintenance to drive operational efficiency and ensure IT projects add significance to the company. The agreement expands on the existing partnership between Infosys and ICA Gruppen with the Swedish Company doubling the percentage of its IT operation provided by Infosys. Infosys is currently trading higher by about 0.9%.

Paint stocks are trading weak today. Asian Paints and Jenson & Nicholson are the leading losers while Kensai Nerolac and AKZO Nobel are marginally trading up. According to a leading financial daily, Berger International Limited, a Singapore based subsidiary of Asian Paints has completed the acquisition of Ethiopian firm Kadisco Paint and Adhesive. The acquisition is considered to be worth US$ 18.95 m, which has been done in cash. Berger International has acquired a 51% stake in the firm pending approvals from the governing authorities in Ethiopia. Asian Paints is currently trading lower by 1.2% on the BSE.

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Views on News

AKZO NOBEL Announces Quarterly Results (2QFY19); Net Profit Down 5.3% (Quarterly Result Update)

Nov 12, 2018 | Updated on Nov 12, 2018

For the quarter ended September 2018, AKZO NOBEL has posted a net profit of Rs 368 m (down 5.3% YoY). Sales on the other hand came in at Rs 7 bn (up 1.3% YoY). Read on for a complete analysis of AKZO NOBEL's quarterly results.

SHALIMAR PAINTS Announces Quarterly Results (2QFY19); Net Profit Down 2.7% (Quarterly Result Update)

Nov 9, 2018 | Updated on Nov 9, 2018

For the quarter ended September 2018, SHALIMAR PAINTS has posted a net profit of Rs 101 m (down 2.7% YoY). Sales on the other hand came in at Rs 717 m (up 1.3% YoY). Read on for a complete analysis of SHALIMAR PAINTS's quarterly results.

ASIAN PAINTS 2017-18 Annual Report Analysis (Annual Result Update)

Aug 8, 2018 | Updated on Aug 8, 2018

Here's an analysis of the annual report of ASIAN PAINTS for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of ASIAN PAINTS. Also includes updates on the valuation of ASIAN PAINTS.

Asian Paints: A Quarter of Recovery (Quarterly Results Update - Detailed)

Nov 9, 2017

Asian Paints registers 21% YoY increase in profits during 2QFY18 on the back of profits realized through discontinued operations.

Asian Paints: Destocking Ahead of GST Impair Sales Volumes (Quarterly Results Update - Detailed)

Aug 17, 2017

Asian Paints registers 20.1% YoY decline in profits during 1QFY18 with low single-digit volume growth in the decorative paints segment.

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