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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Banking stocks drag down markets 
(Thu, 20 Feb 11:30 am) 
 
After opening weak, the Indian Indices are trading well below the dotted line in the morning session. The selling pressure is the highest in banking and metal stocks.

The BSE Sensex is trading down 100 points and the NSE-Nifty is trading down 36 points. The BSE Mid Cap index is trading flat and the BSE Small Cap index is trading down 0.1%. The rupee is trading at 62.25 to the US dollar.

Food stocks are trading mixed today. While Tata Coffee is leading the gainers, Godfrey Phillips is leading the losses. GSK Consumer Healthcare has announced results for 4QCY13 (year ending December). The company has reported an 18.3% YoY rise in sales. For calendar year 2013 (CY13), revenues grew by 17.6%. Volumes were up 13% YoY in the quarter. The company's operating costs related to raw materials and advertising expenses increased steeply in the quarter. The operating profit grew by 15.7% YoY in the quarter, while the operating margin fell by 0.2% YoY. Other income jumped by 26.9% YoY. Higher depreciation expenses in the quarter did not dampen the bottomline performance too much. The net profit grew by 14.5% YoY. The net margin fell from 9.5% in 4QCY12 to 9.2% in 4QCY13. GSK Consumer Healthcare is trading down 0.8% today.

Most Energy stocks are trading lower today. Gujarat State Petronet and Indraprastha Gas are leading the losses. Castrol has announced results for 4QCY13 (year ending December). The company has reported a 6.4% YoY rise in sales. For calendar year 2013 (CY13), revenues grew by just 1.9%. Volumes growth was muted in the quarter. The company's operating costs increased by 7.7% YoY due to higher input prices in the quarter. The operating profit grew by just 1.7% YoY in the quarter, while the operating margin fell by 1% YoY. Other income jumped by 78.3% YoY. A fall in interest expenses for the quarter helped the bottomline performance. The net profit grew by 7% YoY. The net margin improved marginally from 15.5% in 4QCY12 to 15.6% in 4QCY13. Castrol is trading down 0.4% today.

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