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Indian markets trade positively
Wed, 5 Aug 01:30 pm

After trading on a firm note during the morning session of the day, the Indian equity markets continued to trade positively in the post noon trading session. Gains were led by stocks from auto, software and steel segments.

The BSE-Sensex is trading up 186 points (0.7%) and the NSE-Nifty is trading up by 57 points (0.7%). The S&P BSE Midcap index and the S&P BSE Smallcap index are trading up by 1% and 1.3% respectively. Gold prices, per 10 grams, are trading at Rs 24,742 levels. Silver price, per kilogram, is trading at Rs 33,420 levels. Crude oil is trading at Rs 2,958 per barrel. At the time of writing, the rupee stood at 63.83 to the US dollar.

Most of the stocks in the auto ancillaries sector are trading in the green with Wheels India and Sundaram Clayton leading the gainers. As per a leading financial times, Bharat Forge has notched up a 14% YoY jump in its revenues for the quarter ended June 2015. This was on the back of robust growth in its exports and higher realizations. Exports for the company, which form 60% of standalone revenues, surged 21% YoY and offset the muted 6% growth in the domestic segments. Operating profit margins stood at their four year highs with a YoY rise of 31.8%. Going further, the company has a capital expenditure plan of Rs 100 bn over FY 15-17 which will be incurred on de-bottlenecking, improving capacity of machining and research and development (R&D). Scrip of Bharat Forge is presently trading up nearly by 5.2%.

Paint stocks are trading mixed with Jenson & Nicholson leading the gains and Asian Paints leading the losses. According to a leading financial daily, Berger Paints India, one of the leading paint manufacturing companies, is planning to launch new products in coating and construction chemicals segments. The company is also going to reformulate some of its decorative paint products for better finish and durability along with new offering in the water-based and enamel-based ranges. On a separate note, the company is also in talks with the Assam government to set up two plants which will improve its market standing in the northeast region. Currently the stock of Berger Paints is trading up by 1%.

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Views on News

AKZO NOBEL Announces Quarterly Results (3QFY21); Net Profit Up 13.5% (Quarterly Result Update)

Feb 11, 2021 | Updated on Feb 11, 2021

For the quarter ended December 2020, AKZO NOBEL has posted a net profit of Rs 874 m (up 13.5% YoY). Sales on the other hand came in at Rs 8 bn (up 6.5% YoY). Read on for a complete analysis of AKZO NOBEL's quarterly results.

BERGER PAINTS Announces Quarterly Results (3QFY21); Net Profit Up 47.4% (Quarterly Result Update)

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