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Indian Indices Open Flat
Fri, 20 May 09:30 am

Major Asian stock markets have opened the day on positive note. Stock markets in Hong Kong and Taiwan are trading higher by 1.1% and 0.9% respectively. Benchmark indices in Europe and US ended their previous session on a encouraging note. The rupee is trading at 67.23 per US$.

Indian stock markets have opened the day on a flat note. The BSE Sensex is trading higher by 30 points (up 0.08%) and NSE Nifty is trading higher by 5 points (up 0.05%). Both, BSE Mid Cap and BSE Small Cap are trading marginally lower by 0.04% and 0.4% respectively.

Major sectoral indices have opened the day in green with stocks from FMCG and Power sectors witnessing selling pressure.

Lupin Ltd has declared results for the fourth quarter and for the financial year ending March 2016. Net sales for the quarter was up by 34% YoY for the quarter. The growth was helped by growth in the US business which grew by 57% YoY during the quarter. The sales for domestic and Japan segments was up by 14.7% and 17% YoY respectively. EBITDA for the quarter was up by 72.7%, due to better product mix. Profits were up by 47.5%.

Lupin had made acquisition of Gavis in FY16. This company has good presence in the US market and a pipeline of niche drugs awaiting USFDA approval. Going forward, Gavis consolidation could be important driver for the Lupin's growth in the US market.

In another news development, the FMCG players could face more challenges. The FMCG companies have been already facing rising competition from Patanjali. As reported in a financial daily, Food Safety Standards Authority of India (FSSAI), is looking forward to bring more clarity in the quality standards after the episode of Maggi controversy. This will be the first time that FSSAI would come up with quality standards specifically for instant noodles. So far, there have been a common standard for ready-to-cook products including noodles.

As the Indian regulator too is becoming stringent on quality fronts, the companies that will be able to meet these norms will be least impacted. Over and above, investors would be better off, looking into valuations at the FMCG companies before investing in the companies.

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