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Indian share markets open weak
Fri, 25 Jul 09:30 am

Asian stock markets have opened the day on a mixed note with stock markets in Japan (up 0.6%) and China (up 0.5%) leading the gains. However, markets in Taiwan (down 0.8%) and Malaysia (down 0.4%) are trading weak. The Indian share markets have also opened the day on a negative note. The sectoral indices have opened on a mixed note with technology and capital goods stocks leading the losses. However, realty and healthcare stocks are trading firm.

The Sensex today is down by around 27 points (0.1%), while the NSE-Nifty is down by about 8 points (0.1%). However, mid and small cap stocks have opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.2% and 0.1% respectively. The rupee is currently trading at Rs 60.00 to the US dollar.

Cement stocks have opened the day on a mixed note with UltraTech Cement and ACC leading the losses. However, Prism Cement and Heidelberg Cement are trading firm. Holcim Group companies ACC and Ambuja Cements have announced their financial results for the second quarter of the calendar year 2014 (2QCY14).

ACC reported net sales of Rs 30,090 m, higher by 7.8% YoY. Operating profit decreased by 7.7% YoY to Rs 4,000 m. At the bottomline level, net profit declined by 7% YoY to Rs 2,410 m. Net profit margin contracted from 9.3% in 2QCY13 to 8% in 2QCY14.

Ambuja Cements reported net sales of Rs 27,064 m, higher by 15.5% YoY. Operating profit increased by 17.1% YoY to Rs 5,741 m. At the bottomline level, net profit increased by 26.1% YoY to Rs 4,087 m. Net profit margin expanded from 13.8% in 2QCY13 to 15.1% in 2QCY14.

Auto stocks have opened the day on a mixed note with TVS Motor Company and Tata Motors leading the losses. However, Tube Investments and Mahindra & Mahindra (M&M) are trading firm. Two-wheeler maker TVS Motor Company has announced its financial results for the first quarter of financial year 2014-15 (1QFY15). During the quarter, the company's net sales increased by 30.1% YoY to Rs 22,632.1 m. Operating profit increased by 23.1% YoY to Rs 1,217.6 m. Other income shot up from Rs 81.3 m in 1QFY14 to 182.7 m in 1QFY15. At the bottomline level, net profit increased by 39.4% YoY to Rs 723.2 m. Net profit margin expanded from 3% in 1QFY14 to 3.2% in 1QFY15.

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