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Smallcap stocks in the limelight
Wed, 20 Jul 11:30 am

Indian stock market pared their opening gains and are trading flat with a positive bias on sell off in heavy weights over the last two hours of trade. Stocks from the FMCG and realty space are trading firm while stocks from the Power and IT space are trading weak.

The BSE-Sensex is trading up by 10 points while NSE-Nifty is trading flat. BSE-Midcap index is also trading flat while BSE-Small cap index is trading 0.5% above yesterday's closing. The rupee is trading at 44.47 to the US dollar.

Auto stocks are trading weak led by Force Motors and TVS Motors. Ashok Leyland declared its 1QFY12 results. The company's top line grew by 6.3% YoY to stand at Rs 24.9 bn. Operating profit of the company on the hand fell by 9.8% YoY. This was a result of higher employee costs. Total vehicle sales (CVs and passenger buses) including exports fell by 9.9% YoY to 19,277 units during the quarter. Medium and heavy (M&H) CV segment fell by 14.2% YoY fall in sales. The M&H CV segment was impacted by rising auto finance rates and lackluster growth in the industrial sector. Sales was also impacted by smaller players becoming aggressive during the quarter and ate into Ashok Leyland's market share. Net profit of the company fell by 30% YoY to stand at Rs 862.5 m.

Media stocks are trading mixed with Prime Focus and Reliance Mediaworks leading the gains. However, TV18 and Fame India are among the top losers. HT Media has announced its first quarter 2011-2012 (1QFY11) results. The company reported a 22.7% YoY increase in its sales and a 24.5% increase in net profits. The company witnessed strong growth in advertising equaling 17% over the same quarter last year despite slowdown in economy especially sectors like education, real estate, financial services etc. The non print segments made a major contribution and rose by 75% over the last year. Total expenditure grew by 25.4% resulting in operating profit growing by 11.8%. However, the operating profit margins reduced by 1.7%. The company maintains its numero uno position in Delhi with significant lead over other competitors.

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