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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets extend losses 
(Thu, 28 Mar 11:30 am) 
 
Indian share markets continued to trade in the negative after opening on a weak note earlier today. Sectoral indices trade mixed with healthcare and auto stocks being the top gainers and top losers respectively.

The BSE-Sensex is trading lower by 87 points and NSE-Nifty is trading lower by 22 points. BSE Mid Cap and BSE Small Cap indices are trading down by 0.1% each. The rupee is trading at 54.36 to the US dollar.

Auto stocks are trading weak led by Hero MotoCorp and Tata Motors. As per a leading daily, Maruti Suzuki is thinking of introducing an Android based application at all its workshops and service centers. Maruti has already tried to experiment with this at its 250 workshops. In the next year, Maruti intends to have this application in all its service stations. The application works on Android-based tablets and is linked to the dealer management system, hosted on a private cloud server. The tablet can be used for noting feedback, generating job orders, clicking picture of the car and record scratches or dents, if required. The data will be accessible from all service stations across the country.

Food stocks are trading strong led by GSK Consumer and Britannia. As per a leading daily, Nestle India recently decided to increase its royalty payment to its Swiss parent. The FMCG company intends to raise it to 4.5% (100 basis points rise) in a phased manner over next 5 years. Keeping in mind, Nestle's sales CAGR of 17.7% in past 5 years, the royalty is estimated at Rs 34 bn from 2014 to 2018. However, this hike in royalty is not likely to be received well by shareholders. This is because the FMCG company's domestic performance has not been satisfactory lately. Weak consumer sentiments and increasing competition affected sales growth which stood at 11% in CY12. Historically, the same has been over 20%.

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