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Indian market indices open in green
Mon, 28 May 09:30 am

Asian stock markets have mainly opened the day on a positive note with stock markets in Hong Kong (up 0.3%) and Taiwan ( up 0.4%) leading the gains. The stock markets in South Korea (up 0.5%) and China (up 0.1%) were also trading firm. However, markets in Malaysia (down 0.1%) and Japan (down 0.1%) are trading in the red.

The Indian equity markets have opened the day on a positive note. The Sensex today is up by around 88 points (0.6%), while the NSE-Nifty is up by around 10 points (0.2%). The mid and small cap stocks are trading in the green as well with the BSE Mid cap and BSE Small cap indices up by around 0.5% and 0.6% respectively. The rupee is trading at Rs 55.09 to the US dollar. All the sectoral indices have opened in the green with auto and banking stocks leading the gains.

Barring Bharat Petroleum Corporation Ltd. (BPCL), Oil and Natural Gas Corporation (ONGC) and Gas Authority Of India Ltd. (GAIL), Energy stocks have been trading in the green. Bharat Petroleum Corporation Limited (BPCL) has announced its results for quarter ending March 31, 2012 (4QFY12). On a year on year (YoY) basis, the oil refiner reported a 324% increase in the bottomline during the quarter. The sales during the quarter were also up 43% YoY. For full year (FY12), BPCL's gross refining margins (GRMs) stood at US$ 3.16 per barrel as compared to US$ 4.47 per barrel last year. The board has announced a bonus issue in the ratio of 1:1 along with a dividend of Rs 11 per share.

Engineering stocks are trading mixed with Jyoti Structure and Praj Industries Ltd leading the gains and Sanghvi Movers and Suzlon Energy leading the losses. Crompton Greaves has announced its results for the quarter ending March 31, 2012 (4QFY12).On a consolidated basis, the net profit was down 60% YoY and net sales increased just by 5.8% YoY. The operating profit margins during the quarter were down by 6.9% YoY. The losses were mainly on account of poor performance (losses) in the European business. The performance of power segment(two thirds of revenue contribution) was dismal with just 2.3% YoY growth during the quarter. However, this was slightly balanced by industrial and consumer segments' performance.On the positive side, the company witnessed improvement in the order inflows for the quarter-up 11% YoY. Full year order inflows for FY12 were also up by 15% YoY with strong inflows in the power segment. The board has declared an interim dividend of 20 percent, i.e. Re 0.40 per share.

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Feb 20, 2018 (Close)