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?  

Volatility mars Indian Indices
Wed, 17 Apr Closing

Indian equity markets had a rather volatile trading session today. The indices began the day's proceedings on a strong note and subsequent trading hours saw them oscillate to either side of Tuesday's close with the indices eventually closing the day in the red. While the BSE-Sensex closed lower by 13 points, the NSE-Nifty closed flat. Both the BSE Mid Cap and the BSE Small Cap closed on a strong note. Maximum buying interest was seen in Metal and FMCG stocks.

As regards global markets, Asian indices closed mixed. European indices have opened in the red. The rupee was trading at Rs 54.06 to the dollar at the time of writing.

According to a leading financial daily, Cipla has launched biosimilar of Etanercept under the brand name 'Etacept'. It is used for treatment of rheumatic disorders in India. Etacept is manufactured by a China-based Shanghai CP Guojian Pharmaceutical Company Limited and will be marketed by Cipla in India. The introduction of Etacept signals Cipla's entry into the biologic segment offering an option to the patients suffering from rheumatic disorders at a lower cost. The drug is available across the country at Rs 6,150 and the recommended dose for adults is 25 mg twice weekly by subcutaneous (under the skin) injection. The company hopes that introducing the drug at a lower cost (30% lesser as compared to the innovator) will enable access of this drug to a greater number of patients in India.

HCL Technologies Limited has announced the third quarter results (3QFY13) of financial year 2012-2013, (year ending June). Consolidated net sales grew by 2.4% QoQ in 3QFY13. The growth in revenues was 3.8% QoQ on a constant currency basis. In terms of US dollar, revenues grew by 3.2% QoQ during the quarter. A marginal volume growth of 0.4% was witnessed during the quarter which was lower than the 3% sequential growth seen during the previous quarter (2QFY13). EBITDA margin dropped slightly from 22.6% in 2QFY13 to 22.4% in 3QFY13. Net profit grew at a much higher rate of 7.8% QoQ, because of forex gains of Rs 231 m in 3QFY13 as compared to a forex loss of Rs 125 m in 2QFY13. The company added 37 new clients during the quarter. The total number of active clients at the end of March 2013 increased to 547 from 544. The company has declared an interim dividend of Rs 2 per share (dividend yield of 0.3%).

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 "Volatility mars Indian Indices". 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.