Indian equity markets have traded in green during the previous two hours of trade. The most noticeable upward movements have been witnessed in the realty and IT sectors while FMCG has faced the maximum selling pressure.
All except one Hotel stock, EIH Ltd are trading in the green with Oriental Hotels and Country Club leading the gains. The Indian Hotel Company Limited (IHCL) has announced its results for the quarter ended December 2012. The standalone company has reported a 4.4% YoY growth in sales and 28% YoY growth in net profit. The company's domestic business has been primarily responsible for the growth in sales. Operating margin has increased by 1% YoY while operating profit has increased by 7.8% YoY. Taking the 9 month period ending December 2012 into consideration and on a consolidated basis, the company has reported a 10.8% YoY increase in net sales and a wider net loss of Rs 411 m compared to a net loss of Rs 213 m in the same period last year. IHCL's share is trading up by 0.8%.
Automobile stocks are trading on a mixed note with Tata Motors and TVS Motors leading the gains while Eicher Motor and Bajaj Auto are leading the losses. As per a leading financial daily,Tata Motors' UK subsidiary, Jaguar Land Rover (JLR) has sold 34,877 vehicles during January 2013, registering a volume growth of 32% YoY. Jaguar itself has registered a strong sales growth of 40.3% YoY led by robust sales in the XJ and XF model, which rose by 70.4% and 36.8% YoY respectively. All markets have contributed to Jaguar's superior sales growth with China contributing the maximum at 164% YoY followed by the UK at 33.1% YoY. Land Rover sales have also grown at an excellent rate of 30.9% YoY in January 2013 with Evoque, Freelander and the new Range Rover leading the sales contribution.