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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Markets hover around the dotted line 
(Thu, 26 Jul 01:30 pm) 
 
The Indian share markets continued to trade in a range bound manner, albeit marginally below the dotted line, during the post noon trading session. While the sectoral indices representing the healthcare and auto sectors are trading firm, those of the realty and capital goods spaces are leading the pack of losers.

The Sensex today is trading lower by about 15 points while the NSE-Nifty is trading down by about 14 points. Both, the BSE Mid Cap and BSE Small Cap indices are trading weak by about 1% each. The rupee is trading at 55.88 to the US dollar.

Stocks of logistics companies are trading weak led by Allcargo Global Logistics and Sical Logistics. Container Corporation of India (CCIL) announced its results for the quarter ending June 30, 2012 (1QFY13) recently. The company reported a 9.3% year on year (YoY) increase in the topline, while its profits decline by 4.7% YoY. CCIL's operating profits increased by 2.9% YoY as expenses grew at a faster pace of 11.7% YoY. Revenues during the quarter were driven by the EXIM business segment which grew by 11.3% YoY while domestic business' revenues remained flat. However, when it came to the segmental profitability, the domestic business' margins expanded while that of the EXIM business contracted. At the profit before tax level, the number was higher by 11% YoY. However, on the back of a higher tax outgo, profit growth was subdued

Stocks of automobile companies are currently trading mixed with Escorts and Ashok Leyland trading weak, while Bajaj Auto and Maruti Suzuki are trading firm. As reported by the Business Standard, commercial vehicle major manufacturer Ashok Leyland is considering reducing its capital expenditure for the current year FY13 by one-fourth. The company's management has earlier given a capex guidance of Rs 6 bn, which it is now planning to bring down to Rs 4.5 bn. The rationale behind the same is cash conservation on the back of a demand slowdown. The company plans to cut investment at the Pantnagar facility, in the area of R&D (research & development) and on sourcing. In addition, the company's working capital debt stood at around Rs 25 bn in June which it intends to reduce this by around 7.5 bn from here onwards.

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May 26, 2017 (Close)

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