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Markets will remain closed on 19th & 20th October 2017.
We wish all our readers a very Happy Diwali!

A volatile day of trading
Thu, 1 Aug Closing

Indian equity markets had a rather volatile trading session today. While the indices began the day's proceedings on a firm note, subsequent hours saw them oscillate to either side of yesterday's close. The final trading hour saw profit booking taking toll as the indices closed below the dotted line. While the BSE Sensex today closed lower by 28 points, the NSE-Nifty closed lower by 14 points. The BSE Mid Cap and the BSE Small Cap index were not spared either and lost 1% each. Barring banking stocks, losses were seen across sectors.

As regards global markets, most Asian indices closed firm today while European indices have also opened in the green. The rupee was trading at Rs 60.49 to the dollar at the time of writing.

MNC pharma stocks closed mixed today. While Sanofi India and Novartis closed firm, GSK Pharma and Abbott India were out of favour. Sanofi India announced results for the second quarter and half year ended June 2013. Topline grew by 10.9% YoY during the quarter led by 9.6% YoY growth in the pharmaceuticals business and 38.7% YoY growth in other operating income. Operating margins improved by 3.8% to 27.4% for the quarter. This was helped by lower cost of materials and marginal increase in other expenses. Bottomline grew by 26.4% YoY on the back of better operating margins and higher other income. Going forward, MNC pharma players including Sanofi India are most likely to be impacted by the new pricing policy as the domestic market accounts for a larger chunk of overall revenues as compared to their domestic counterparts.

Shree Cement announced results for the quarter and year ended June 2013 (June ending company). Revenues declined marginally by 0.9% YoY during the quarter ended June 2013 owing to poor performance of the cement segment. However, the robust performance of the power sector restricted the decline in overall sales of the company during the quarter. Operating margins contracted by about 680 basis points (6.8%) YoY to 26.7% on account of lower cement realisations. Net profits declined by 19.1% YoY during the quarter as net profit margins contracted from 24.5% in 4QFY12 to 19.6% in 4QFY13. The company's board of directors declared a final dividend of Rs 12 per share for the financial year ended June 2013. The stock closed lower today.

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Oct 19, 2017 07:33 PM

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