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Indian stock markets remain flat
Thu, 14 May 01:30 pm

The Indian markets continued to trade weak in the post-noon trading session. Sectoral indices are trading mixed with mining and software witnessing the maximum selling activity. However, buying activity was witnessed in aluminum and auto sectors.

The BSE-Sensex is trading lower by 187 points (0.7%) and NSE-Nifty trading lower by 52 points (0.6%). BSE Mid Cap is trading up by 0.4% while the BSE Small Cap is trading up by 0.3%. In commodity markets, Gold and Silver are trading at 27,488 and 39,525 price levels respectively. At the time of writing, the rupee was trading at Rs 63.97 to the US$.

Pharma stocks are trading mixed today with Ranbaxy Lab and Wockhardt Ltd being the leading gainers. Indian pharmaceutical company Lupin Ltd has reported a 1% YoY (year-on-year) decline in net profit at Rs 5.47 bn for the quarter ended March 2015. The decline was due to fall in revenue from its US business which accounts for 45% of total sales. The revenues of the company remained flat at Rs 30.5 bn YoY. Demand for its products declined in three key markets- the US, Japan and the rest of the world by 6%, 9% and 3% respectively. Currently the stock of Lupin Ltd. is trading down by 3.8% at Rs 1,627.

Automobile stocks are also trading mixed with Bajaj Auto and Hero Motocorp being the top gainers. As per a leading financial daily, commercial vehicles and components manufacturer Ashok Leyland has reported a 46% growth in revenue at Rs 45 bn in the March 2015 quarter. The growth was driven by a strong 33% YoY growth in volume and 10% improvement in realizations. For the year FY15, company's M&HCV (medium and heavy commercial vehicles) volumes grew 28% as compared to industry growth of 16%, helping Leyland gain market share. The stock of Ashok Leyland is trading up by 0.9%.

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