Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Positive Start to the Day
Tue, 31 May 09:30 am

Major Asian stock markets have opened the day on a positive note. Stock markets in China and Singapore are trading higher by 2.4% and 1% respectively. Benchmark indices in the Europe and the US ended their previous session in green. The rupee is trading at 67.33 per US$.

Indian stock markets have opened the day on a firm note. The BSE Sensex is trading higher by 98 points (up 0.4%) and the NSE Nifty is trading higher by 18 points (up 0.2%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.3% and 0.2% each.

Major sectoral indices have opened the day on a mixed note with stocks from automobile sector witnessing buying interest. However, stocks from pharmaceutical and telecommunication sector is witnessing selling pressure.

Tata Motor's reported its results for the quarter ended March 2016. The consolidated revenues grew by 18.8% YoY to Rs 799.2 billion during the quarter. The healthy growth was on the back of the strong performance of its Jaguar Land Rover (JLR) unit.

The sales volumes of JLR grew by 28% YoY to 158,213 units during the quarter. The traction for JLR was across geographies and the volumes grew by 28% in the UK, 23% in North America, 19% in China and 54% in Europe as a whole during the quarter. Reportedly, net profit at JLR rose 56.29% YoY to €472 million, while net sales increased 13.18% to €6,594 million during the quarter.

Moreover, the Indian operations too reported a profit of Rs 4.6 billion as compared to a net loss of Rs 11.6 billion a year ago. The Indian operations improved on the back of strong performance from the medium and heavy duty trucks.

The consolidated net profits of the company grew by 201% to Rs 51.7 billion during the quarter. However, the profits included a one-time gain of Rs 5.5 billion on account of an insurance claim.

The profitability margins may come under pressure going forward on the account of growing contribution of cheaper models. Reportedly, JLR is moving from being a premium, high-margin company to a high-volume, low-margin firm.

Going forward, the traction from the newly launched model in passenger vehicle space such as 'Tiago' and a pick -up in the economic activity to boost the demand for commercial vehicles will be the key thing to watch out for pertaining to Indian operations. As far as the JLR unit is concerned, the demand from key geographies such as China and Europe will need to be closely tracked to assess its impact on its financial performance going forward. The stock is trading up by 9.2%.

NTPC too reported its results for the quarter ended March 2016. The standalone total income declined by 6.6% YoY to Rs 185.6 billion during the quarter. Further, the company's net sales from electricity too declined by 6.4% YoY to Rs 179.9 billion during the quarter.

The sales from electricity declined on the back of low demand from the state electricity board (SEB). Partially the fall in the revenues was also on account of lower fuel cost which declined by 19% YoY during the quarter. Fuel cost is a pass-through for NTPC's regulated business model. As the benefit was passed on to the customers, average tariff fell, resulting in a 6% drop in revenue.

Further, the company's plant load factor or utilization levels dropped marginally to 62.28% in fiscal year 2016 as compared to 64.25% in the year ago period.

The standalone net profits too declined by 8% YoY to Rs 27.1 billion during the quarter. Increase in the generation and utilisation levels will be the key things to watch out for going forward. The stock is trading up by 1.2%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Positive Start to the Day". Click here!


Views on News

ITI Mid-Cap Fund: Investing in Potential Midcap Companies for Growth (Outside View)

Feb 26, 2021

PersonalFN analyses the features of ITI Mid-Cap Fund and explains the potential this fund has to offer to its investors.

NSE Glitch: Why Did the Market Go Up? (Fast Profits Daily)

Feb 26, 2021

In today's video, I'll discuss why thew stock market went up on Wednesday, 24 February 2021, when the NSE had to shut trading due to a technical glitch.

My Personal Checklist for Your Trading Success (Profit Hunter)

Feb 26, 2021

You my personal trading checklist and you will be well on your way to making it big as a trader.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

Refresh Your Investment Portfolio in 2021 to Align with Your Financial Goals (Outside View)

Feb 25, 2021

Timely review of your investment portfolio is the key, to enable stable returns and work towards your envisioned financial goals during various market phases.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Intraday Trading for a Living (Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Feb 26, 2021 (Close)