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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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IT stocks lead the rally 
(Mon, 1 Aug 11:30 am) 
 
Indian stock market indices have been trading strong over the past two hours of trade on buying interest in index heavyweights. All sectoral indices are trading in the green except metals.

The BSE-Sensex is up by 140 points while NSE-Nifty is trading up by 40 points. BSE Midcap and BSE Small cap indices are up by 0.2% and 0.1% respectively. The rupee is trading at 44.09 to the US dollar.

Banking stocks are trading strong led by Kotak Bank and Development Credit Bank. Punjab National Bank declared results for the quarter ended June 2011. The net interest income for the public sector bank grew by 20% YoY during the first quarter of the financial year 2011-12. This is because of 24% YoY growth in advances. However, the net interest margin declined marginally and is now 3.8%. Capital Adequacy Ratio is down from 13.7% to 12.4% as compared to the same quarter last year. Other income grew by 21.5% backed by increase in fee income as a result of 30% stake acquired in Met Life India. Net NPA (non performing asset) are slightly higher at 0.9% as compared to 0.7% in the same quarter last year.

Bajaj Electricals declared results for the first quarter of FY 2011-12 ended June 2011. The company reported 13% YoY increase in top line and 51% YoY fall in net profit for the quarter. Operating margins shrank by 3% over the same quarter last year. The 13% topline growth was led by 15% YoY increase in its consumer durables segment. Overall growth in topline was impacted by the poor performance of the E&P (Engineering and Projects) division, which managed just a 3% YoY growth. Again decline in operating margins was result of poor performance by E&P division which registered negative margins. Net profit fell by 51% because of rising interest expense which saw 88% increase, higher depreciation and fall in other income.

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Jun 23, 2017 (Close)

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