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HUL lifts up the markets
Tue, 30 Apr Closing

With buying activity intensifying during the closing stages, indices in the Indian share market edged higher and closed comfortably in the positive. While BSE-Sensex gained to the tune of 117 points, NSE-Nifty closed with gains of 26 points (up 0.5%). BSE Mid Cap and BSE Small Cap indices witnessed contrasting trends with Mid Cap index gaining 0.4% whereas the Small Cap index ending lower by 0.3%. Nearly three stocks gained for every two that closed the day in the red.

While other Asian markets closed strong today, Europe too is trading mostly in the negative currently. The rupee was trading at Rs 53.8 to the dollar at the time of writing.

The indices continued from where they left off yesterday. And while they did show signs of fatigue, they quickly recovered towards the closing hours and posted significant gains on yet another occasion. Bulk of today's gains came on account of buoyancy in HUL counter where news of buyback by parent created significant buzz and took the stock some 17% higher. Other heavyweights like ITC and ICICI Bank also helped the Sensex post a strong gain.

Petronet LNG has announced results for the fourth quarter of financial year 2012-2013 (4QFY13). The company has reported around 33% year on year (YoY) growth during the quarter. The total expenses during the quarter witnessed a growth of 35% YoY. The pre tax profit for the quarter was up 5% YoY. The net profit for the quarter was flat as compared to the corresponding quarter of the last year. The net profit margin for the quarter stood at 2.9%, as compared to 3.9% in 4QFY12. The board of directors has recommended dividend at 25% on paid up share capital of the company (i.e. Rs 2.50 a share) for the year. The stock closed marginally higher today.

Dabur also announced its results for the quarter ended March 2013. The company posted a revenue growth of 12.5% YoY. On the back of reduction in other expenditure coupled with controlled raw material costs and ad-spends, Dabur managed to expand operating margin by 0.8% to 17.7%. Net profit for the quarter increased by 17.6% aided by 102% jump in the other income component. Interest charges and tax outgo grew by 162% and 34% respectively during the quarter. The stock closed marginally higher today

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