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IT, Banking stocks outperform
Tue, 28 Jul 11:30 am

After opening the day on a flat note, the Indian Indices continued to trade slightly above the dotted line. Sectoral indices are trading on a mixed note with stocks from the auto and energy sectors leading the losers. However IT, banking and engineering stocks are trading firm.

The BSE-Sensex is trading up 5 points (0.02%) and the NSE-Nifty is trading up by 2 points (0.02%). The BSE Mid Cap index and the BSE Small Cap index are trading marginally higher by 0.1% and 0.3% respectively. At the time of writing, the rupee stood at 64.04 to the US dollar.

Stocks in the cement sector are trading on a mixed note with Prism Cement and Heidelberg Cement leading the gains. India's third largest cement maker and part of Swiss cement giant Holcim Ambuja Cement has declared its quarterly results for the period ended June 2015. The numbers came below previous year's level on the back of weak demand and poor pricing of the building commodity. On a YoY basis the company's net profit dipped by 45%. The earnings before interest, tax, depreciation and amortization (EBITDA), declined 33.2% YoY. Net sales for the quarter declined about 8% YoY. Stock of Ambuja Cement is trading down by 0.5%.

Automobile stocks are trading mixed with Tata Motors and Hero Motocorp bearing maximum burnt. As per financial times, TVS Motor, the third largest two-wheeler manufacturer in India, is targeting is targeting 14.5% market share in domestic two-wheeler industry by FY16. The company is also targeting exports of 4 lakh two-wheelers in FY16 which will comprise an export market share of 15%. Further, the company is planning to invest around Rs 3.5 bn during the current fiscal. This investment is for the purpose of product development and capacity expansion. For the quarter ended June 2015, two-wheeler sales of the company have witnessed a rise of 8.8% on a YoY basis. Currently, the stock of company is trading down by 2.7%.

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Jan 19, 2018 (Close)