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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets open firm 
(Wed, 22 May 09:30 am) 
 
All major Asian stock markets have opened the day on a firm note with Japan (up 1.2%) and Malaysia (up 1%) leading the gains. The Indian share market indices have also opened the day on a firm note. Stocks in the healthcare and information technology space are leading the gains.

The Sensex today is up by around 82 points (0.4%), while the NSE-Nifty is up by around 25 point (0.4%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.4% and 0.3% respectively. The rupee is trading at Rs 55.30 to the US dollar.

Information technology stocks have opened the day on a firm note with Tech Mahindra, Mahindra Satyam and Mphasis Ltd leading the gains. Tech Mahindra has announced its financial results for the quarter and year ended March 2013. During the quarter (4QFY13), the company reported consolidated sales of Rs 19,072 m, higher by 6.5% quarter-on-quarter (QoQ). Operating profit rose marginally by 1% QoQ to Rs 3,801 m. The company reported 467.7% QoQ increase in contribution to the share of profits from its associate Mahindra Satyam. As a result, net profits surged by 36.8% QoQ to Rs 3,773 m despite the muted operating performance. Net profit margins improved from 15.4% in 3QFY13 to 19.8% in 4QFY13. During the financial year 2012-13 (FY13), while the consolidates sales grew by 25.2% year-on-year (YoY) to Rs 68,731 m, net profits grew by 17.5% YoY to Rs 12,877 m. The company's board of directors has recommended a dividend of Rs 5 per share for the.

Food stocks have opened the day on a firm note with United Breweries, Britannia and Nestle leading the gains. As per a leading financial daily, ITC Ltd has surpassed Hindustan Unilever Ltd (HUL) in the sales of branded food and beverages during the financial year 2012-13 (FY13). During FY13, ITC's branded food sales stood at Rs 46 bn, higher by 24% YoY. This was higher than HUL's food and beverage sales of Rs 44.8 bn during the same period. It is worth noting that in the previous fiscal (FY12) while HUL's sales from this segment stood at Rs 39.77 bn, ITC's sales stood lower at Rs 37.12 bn. However, HUL still continues to dominate the non-cigarettes FMCG market with total revenues of Rs 258.1 bn in FY13. On the other hand, ITC's non-cigarette FMCG portfolio stood much lower at Rs 69.82 bn.

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