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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian stock markets soar higher 
(Tue, 15 May 01:30 pm) 
 
After a strong recovery from a weak opening, the Indian stock markets continued to gain further ground in the last two trading hours. Majority of the sectoral indices are trading positive with capital goods, metal and IT stocks clocking the highest gains. Only Auto, FMCG and consumer durables stocks are trading in the red.

The BSE-Sensex is trading up 105 points and NSE-Nifty is trading up 28 points. Both BSE Mid cap index is trading up 0.3% and BSE Small cap index is trading marginally down. The rupee is trading at 53.8 to the US dollar.

As per a leading financial daily, GlaxoSmithkine Consumer Healthcare (GSKCH) plans to focus on the breakfast and snack segments as it enjoys core strength in nutrition. The company had launched Horlicks Oats in the southern states last year and has garnered 12% market share with its brand becoming the third largest in the oats segment. However, its noodles foray under Horlicks Foodles brand received a lukewarm response and the company wants to renew focus on the category. Oral care will be the other focus area where the company plans to launch brands from the global portfolio. GSKCH is targeting to raise the market share of the Sensodyne toothpaste brand, in the sensitivity segment of the toothpaste market, to double-digits from the current 2%.

IVRCL announced its results for the quarter and year ended March 2012. During the quarter, the company reported a revenue decline of 22% YoY. The company's operating profits declined even more as operating expenses decreased at a slower pace as compared to the decline in revenues. Operating expenses declined by 20% YoY during 4QFY12. The company's operating margins stood at 6.4% as compared to 8.6% during the corresponding quarter last year. IVRCL's net profits declined by a massive 92% YoY on the back of a poor operating performance coupled with higher depreciation costs. A relatively higher tax rate also impacted profits during the quarter.

As for the full year FY12, IVRCL's revenues and profits declined by 12% YoY and 85% YoY. The company's operating profits declined by 27% YoY while operating margins stood at 7.6% as compared to 9.1% during FY11. IVRCL's order book (including L1) stands at Rs 277.9 bn, which is about 5.6 times the full year FY12 turnover.

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