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Indian stock markets extend gains
Mon, 11 May 01:30 pm

The Indian stock markets continued to trade in green in the post noon trading session. All the sectoral indices are trading firm with banking and auto sectors witnessing maximum buying interest.

The BSE-Sensex is trading up by 368.9 points (1.4%) while the The 50 share NSE-Nifty is also quoting up by 118 points (1.4%). BSE Mid Cap index is trading up by 1.8% and the BSE Small Cap index is trading up by 1.2%. The rupee was trading at 63.9 to the US dollar at the time of writing. Gold prices are trading at Rs 26,855 levels and silver prices are trading at Rs 37,881 levels. Crude oil is trading at Rs 3,815 levels.

Food and tobacco stocks are trading mixed with Wadala Commodities and Godfrey Phillips being the leading gainers. As per a leading financial daily, FMCG firm GSK Consumer Healthcare Ltd reported a 14.6% increase in net profit at Rs 1.97 bn for the quarter ended March 2015. In the year ago quarter the company had reported a profit of Rs 1.72 bn. Net sales of the company were up by 8% at Rs 11.65 bn in the quarter against Rs 10.79 bn in the corresponding period last year. The performance drivers enabling the jump in quarterly results, as company stated, were market penetration, greater access to products, and cost efficiency. In a separate filing, the company's Board of director has recommended a dividend at the rate of Rs 55 per share of Rs 10 each. The stock of GSK Consumer is trading down by 0.3%.

Paint stocks are also trading mixed with Jenson and Nicholson and Asahi Songwon being the top gainers. Kansai Nerolac Paints, the second largest paint company in India, is all set to invest Rs 3.5 bn to set up a new plant in Gujarat. The manufacturing unit will have a capacity of 42,000 tonnes per year, which is expandable in phases. The company also on Saturday reported a 34.6% increase in standalone net profit at Rs 0.6 bn for the fourth quarter ended March 31 as against 0.45 bn in the corresponding quarter for the last fiscal. Net sales during the quarter stood at Rs 8 bn, an increase of 7.71% compared with Rs 7.5 bn in the year ago quarter. The Board of Directors of the company also recommended a dividend of Rs 1.40 per share.

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