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?  

Profit booking takes toll
Tue, 26 Apr Closing

Indian stock markets had a weak outing today as persistent selling activity across index heavyweights caused the indices to languish in the red for a larger part of the day. Although the afternoon session saw buying gain pace and the indices move into the positive, this proved to be short lived as profit booking once again pushed the indices into the red. While the BSE-Sensex closed lower by around 39 points (down 0.2%), the NSE-Nifty closed lower by around 10 points (down 0.2%). The BSE Midcap and BSE Small cap cap were not spared either as both closed flat. Barring healthcare and metals stocks, selling was seen across indices.

As regards global markets, Asian indices closed in the red today while European indices have opened in the green. The rupee was trading at Rs 44.52 to the dollar at the time of writing.

Reliance Industries announced its results for the fourth quarter ended March 2011. Topline grew by 26.2% YoY during 4QFY11 mainly driven by 22% YoY growth (on a gross basis) in revenues from the Refining segment (74% of the gross sales). The gross refining margins (GRMs) stood at US$ 9.2 per barrel during the quarter (US$ 7.5 per barrel during 4Q2010). The revenues from Petrochemicals segment (21% of gross sales) were up by 18% YoY. However, Oil and Gas segment (5% of the gross sales) revenues declined by 5% YoY. The company registered 8% YoY increase in operating profits that translated into a margin of 14% for the quarter (16% in 4QFY10). While Petrochemicals and Refining segment margins remained the same as that of 4QFY10, the operating profits for Oil and Gas segment were down by 8% YoY leading to margin decline of 1.2% for the segment. While the improvement in gross margins and investment in shale gas ventures is positive for the company, supply issues from its oil and gas fields remain an overhang. The performance of the Petrochemicals division is expected to remain robust on account of increase in the demand. The stock closed lower today.

Software stocks closed mixed today. While NIIT and Mahindra Satyam found favour, TCS and Infosys were at the receiving end. download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Profit booking takes toll". 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.