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

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on April 17, 2024 on account of Ram Navami.

Auto stocks lead the rally
Wed, 15 Feb 11:30 am

Indian stock market indices traded strong over the last two hours of trade on the back of heavy buying activity witnessed across index heavyweights. Auto and realty stocks witnessed maximum buying interest.

The BSE-Sensex is up by 261 points, while the NSE-Nifty is up by 81 points. BSE Mid cap index and the BSE Small cap index are up by 1.72% and 1.15% respectively. The rupee is trading at 49.21 to the US dollar.

Banking stocks are trading strong led by Central Bank and Allahabad Bank. State Bank Of India (SBI) has announced results for the quarter ended December 2011. The bank has reported 29% YoY growth in interest income and 15% YoY growth in net profits for the quarter. Net interest income grew by 27% YoY in 3QFY12, on the back of a 17.5% YoY growth in advances. Other income fell by 36% YoY in 3QFY12 on the back of lower fee income, forex income and loss on sale of investments. NIMs (net interest margins) moved up significantly from 3.4% in 9mFY11 to 3.8% in 9mFY12, as the bank was able to improve its yields and control costs. Net NPAs (Non Performing Assets) increased from 1.6% in 9mFY11 to 2.22% in 9mFY12. Capital adequacy ratio stood at 11.6% (Tier-1 ratio at 7.59%) at the end of 3QFY12 as per Basel II.

Auto stocks are trading in the green led by Tata Motors and Ashok Leyland. Tata Motors has declared results for the quarter ended December 2011. The company reported a 40.5% YoY jump in consolidated net profit on the back of better performance by British division Jaguar Land Rover (JLR). Significantly, Tata Motors crossed the Rs 1 trillion revenue target during the quarter under review. The domestic operations' net profits plummeted by 57.6% YoY because of rising input costs, higher marketing spends and competition in the passenger cars segment, coupled with depreciation of the rupee and booking of mark-to-market losses of Rs 1 bn. JLR posted 57.4% YoY jump in net profits.

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

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Auto stocks lead the rally". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.