Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Weakness all around
Thu, 13 Feb Closing

Persistent selling activity led the Indian markets to fall deeper into the red as the day progressed. The BSE-Sensex finally closed with losses of about 255 points or 1.3%, while the NSE-Nifty ended lower by about 83 points or 1.4%. Losses were seen across the board with those from the engineering, banking and metal spaces leading the pack of losers. Stocks from the mid and smallcap spaces also ended with losses as the BSE Mid Cap and BSE Small Cap indices were down by about 0.8% and 1.1% respectively.

Stock markets in other parts of Asia traded weak with Hong Kong and China down by about 0.5%, while Japan was down by about 1.8%. The rupee was trading at Rs 62.27 to the dollar at the time of writing.

Stocks of aluminium companies ended the day on a weak note with Hindalco Industries and Nalco down by about 3.5% and 0.5% respectively. The aluminum manufacturing company Hindalco announced its standalone financial results for the quarter ended December 2013. Net sales for the company increased by 5.8% YoY while net profits decreased by 23% YoY. The top-line of the company has increased by 5.5% YoY on the back of lower volumes. The operating profits of the company increased by 8.1% YoY due to lower input costs. Operating margins were up by 0.2% YoY. However, net profits declined by 23% YoY due to higher tax outgo and lower other income. Net margins too have declined by 1.7% YoY. For the nine month ended December 2013, net sales increased by 1.9% YoY while net profits decreased by 4.3% YoY.

Stocks from the pharmaceutical sector ended the day on a weak note with Cipla, Glenmark Pharmaceuticals and Cadila Healthcare leading the pack of losers. The weakness in the stock of Cipla was on the back of the company announcing a weak set of results for the third quarter and nine month period ended December 2013. The company's revenues grew by 22% YoY largely led by the strong 32% YoY growth in export formulations. The domestic business recorded a growth of 13% YoY growth during the quarter, which was decent given the negative impact of the new drug pricing policy that most other pharma companies had to deal with. The company's operating margins, however, fell by 6.6% YoY to 18.1% during the quarter on account of a rise in all cost heads. This led to a 10% YoY decline in operating profits. A poor operating performance coupled with a surge in interest costs led to the 16.5% YoY fall in the profits. For the nine month period, revenues were up 20% YoY, while net profits came in lower by 11% YoY.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Weakness all around". Click here!

  

Related Views on News

CIPLA Announces Quarterly Results (3QFY21); Net Profit Up 112.8% (Quarterly Result Update)

Feb 1, 2021 | Updated on Feb 1, 2021

For the quarter ended December 2020, CIPLA has posted a net profit of Rs 8 bn (up 112.8% YoY). Sales on the other hand came in at Rs 52 bn (up 18.2% YoY). Read on for a complete analysis of CIPLA's quarterly results.

CIPLA 2019-20 Annual Report Analysis (Annual Result Update)

Nov 4, 2020 | Updated on Nov 4, 2020

Here's an analysis of the annual report of CIPLA for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of CIPLA. Also includes updates on the valuation of CIPLA.

CIPLA Announces Quarterly Results (1QFY21); Net Profit Up 21.4% (Quarterly Result Update)

Aug 10, 2020 | Updated on Aug 10, 2020

For the quarter ended June 2020, CIPLA has posted a net profit of Rs 6 bn (up 21.4% YoY). Sales on the other hand came in at Rs 43 bn (up 7.2% YoY). Read on for a complete analysis of CIPLA's quarterly results.

CIPLA 2018-19 Annual Report Analysis (Annual Result Update)

Sep 9, 2019 | Updated on Sep 9, 2019

Here's an analysis of the annual report of CIPLA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of CIPLA. Also includes updates on the valuation of CIPLA.

More Views on News

Most Popular

Intraday Trading for a Living (Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Penny Stock Master Series: The Quest for 10X Profits in 10 Years (Profit Hunter)

Feb 12, 2021

This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE HEALTHCARE


Feb 24, 2021 (Close)

S&P BSE HEALTHCARE 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS