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Markets will remain closed on April 17, 2024 on account of Ram Navami.

Indian stock markets continue in green
Thu, 26 May 01:30 pm

The Indian stock market continued to trade firm in the last two hours of trade. Most of the sectoral indices are trading in the green. Stocks from the oil & gas and metal space are trading firm, while those from the consumer durables and software space are trading weak.

The BSE-Sensex is up 137 points while NSE-Nifty is trading 41 points above the dotted line. BSE Midcap and BSE Small cap indices are up 0.4% and 0.7% respectively. The rupee is trading at 45.26 to the US dollar.

Power stocks are trading mixed with Coal India, NTPC and NHPC Ltd leading the pack of gainers. However, Torrent Power and PTC India Ltd are trading weak. Coal India Ltd. has announced its results for the fourth quarter and financial year 2010-2011 (FY11). The net sales were up 12.6% YoY. Of the total sales, 30% came through market driven price and the remaining 70% came from FSA (fuel supply agreements) based notified price sale. For FY11, the company reported a net profit of Rs 109 bn, up 13% YoY. The growth in the bottom line was due to higher sales from e-auctions. Profits were also helped by higher proportion of sale of washed coal, which yields higher margin than coal sold under FSA. The company had gone for a price hike in the month of February this year. The company said that it can maintain its margins at the current levels. While the management does not expect any further price hikes, however if that happens, then margins would improve. The company aims for 477 million tonnes (MT) of coal sales in FY12.

Engineering stocks are trading mixed as well with Opto Circuit, TRF Ltd and Alfa Laval leading the pack of gainers. However, Emco Ltd and Jyoti Structures are trading weak. Larsen & Toubro has has announced its results for the fourth quarter and financial year 2010-2011. The company registered a 13% YoY growth in net sales for the quarter due to a growth in each of its segments. For FY11, the gross sales grew by 19% YoY. The order inflow for the company grew by 27% YoY during the quarter leading to an order book of Rs 130 bn as on March 31, 2011. Despite delays of some infrastructure and power project orders, the order inflow for full year grew by 15% YoY. The bottom line (excluding exceptional and extra ordinary items) was up by 15% YoY for the year. The company's board of directors has recommended a dividend of Rs 14.5 per share.

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