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Indian stock markets trade above the dotted line
Tue, 14 Feb 01:30 pm

Indian stock market indices continue to trade above the dotted line over the last two hours of trade. Realty and Auto stocks witnessed maximum buying interest while Pharma and Power stocks witnessed maximum selling pressure.

The BSE-Sensex is up by 29 points, while the NSE-Nifty is up by 13 point. BSE Mid cap index and the BSE Small cap index are up by 0.65% and 0.63% respectively. The rupee is trading at 49.28 to the US dollar.

Stocks in the Energy sector are trading mixed with Essar Oil and Gujarat State Petronet Ltd. leading the gainers and Mangalore Refineries and Petrochemicals Ltd.(MRPL) and Oil and Natural Gas Ltd. (ONGC) trading the weakest. Castrol India Ltd. has reported results for the fourth quarter of calendar year 2011(4QCY11). The growth in the topline came at 10.7% YoY during the quarter. The company was able to achieve this growth despite a decline in demand mainly due to pro active pricing moves throughout the year. The operating profits for the quarter declined slightly by 0.4% YoY, with margins at 20.2% (versus 22.5% last year). For CY11, the decline was more prominent at 8.6% YoY with margins at 22.4% versus 26.7% last year. This was mainly on account of increase in the cost of base oil and additives. The net profits for the quarter gained 0.8% YoY with margins at 13.8% (versus 15.2% last year).For CY11, the bottomline declined by 1.9% YoY with margins at 16.1% (versus 17.9% last year). The stock was trading in the green.

Essel Propack has declared its December 2011 results. Consolidated sales of the company increased by 13.7% YoY backed by 18% growth in its India operations and double-digit growth recorded by each of the four overseas markets. However higher raw material expenses kept margins under pressure at around 16.2%. At the net level, profits tumbled by 12.9% on account of large foreign exchange loss of Rs 5.2 m as compared to a gain of Rs 59.7 m in the year-ago quarter. Earnings from its Indian operations fell by 5% on account of high input prices, weak rupee and steep rise in interest rates.

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Feb 19, 2018 02:21 PM