X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Positive Start to the Day
Mon, 1 Aug 09:30 am

Barring China, major Asian stock markets have opened the day on a positive note. Stock markets in Indonesia and Hong Kong are trading higher by 2.1% and 1.3% respectively. Benchmark indices in Europe ended their previous session in green with the stock market in Germany ending the day higher by 0.6%. The rupee is trading at 67.03 per US$.

Indian stock markets have opened the day on a firm note. The BSE Sensex is trading higher by 161 points (up 0.6%) and the NSE Nifty is trading higher by 50 points (up 0.6%). While both, BSE Mid Cap and BSE Small Cap have moved upwards and are trading higher by 0.9% and 0.8% respectively.

Major sectoral indices have opened the day ion green with stocks from automobile and oil & gas sector are witnessing maximum buying interest.

As per an article in Livemint, ICICI Bank declared its results for the quarter ended June 2016. The net profits declined by 25% YoY to Rs 22.3 billion during the quarter. The net profits declined on the back of higher provisioning on account of bad loans. Provisions grew by 163% YoY to Rs 25.1 billion during the quarter.

Concerns pertaining to bad loans rose as gross non-performing assets (NPAs) grew by 3.7% QoQ to Rs 271.9 billion during the quarter. Further, gross NPAs as a share of total advances stood at 5.87% compared with 5.82% in the preceding quarter.

Net Interest Income, considered as the core income of the bank grew marginally by 0.85% YoY to Rs 51.5 billion during the quarter. Whereas, the net interest margins declined by 0.21% to 3.16%.

Asset quality will be the key thing to watch out for going forward. The stock is trading down by 1.7%.

In another news update, Nestle too reported its results for the quarter ended June 2016. The company reported a net profit of Rs 2.3 billion as compared to a net loss of Rs 0.6 billion a year ago. The company had incurred a loss in the preceding quarter last year, mainly on account of the Maggi controversy. The loss was linked to the one-time charge of Rs 4.5 billion related to the removal of Maggi noodles from the domestic market.

The company's net sales grew by 16.7% YoY to Rs 22.5 billion during the quarter. Sales from domestic and export market grew by 17.5% YoY and 7% YoY respectively during the quarter. Maggi noodles is yet to re-gain its lost market share, which stood at 80.2% in the quarter to March 2015. Currently, the market share stands at 57%.

Further, the company is increasingly launching new products to reduce its reliance on the Maggi noodles. Reportedly, the company has launched more than 25 new products across categories.

Traction from new products coupled with the re-gain of market share from Maggi noodles will be the key things to watch out for going forward. The stock is trading up by 0.3%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Positive Start to the Day". Click here!

  

S&P BSE SENSEX


Apr 28, 2017 01:37 PM

MARKET STATS