Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian share markets open firm
Tue, 12 Aug 09:30 am

Asian stock markets have opened the day on a mixed note with stock markets in Malaysia (down 0.4%), China (down 0.2%) and Hong Kong (down 0.2%) leading the losses. However, the markets in Indonesia (up 0.5%) and Japan (up 0.3%) are trading firm. The Indian share markets have opened the day on a positive note. Barring the Teck and IT index, all sectoral indices have opened in the green with consumer durables and auto indices leading the gains.

The Sensex today is up by around 170 points (0.7%), while the NSE-Nifty is up by about 39 points (0.5%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.4% and 0.6% respectively. The rupee is currently trading at Rs 61.19 to the US dollar.

Barring Bhushan Steel which has opened lower by 10%, most steel sector stocks have opened the day on a firm note with Jindal Steel and Tata Steel leading the gains. State-run Steel Authority of India Ltd (SAIL) has announced its financial results for the quarter ended June 2014 (1QFY15). During the quarter, net sales increased by 10.8% YoY to Rs 111,956.8 m. Operating profit grew by 33.7% YoY to Rs 11,298.2 m during the quarter. Operating profit margin expanded from 7.4% in 1QFY14 to 8.9% in 1QFY15. Interest expenses rose substantially by 59% YoY to Rs 3,049.5 m. At the bottomline level, net profit increased by 17.5% YoY to Rs 5,298.8 m. Net profit margin expanded from 3.9% in 1QFY14 to 4.2% in 1QFY15.

Oil & gas stocks have opened the day mainly in the green with Oil & Natural Gas Corporation (ONGC) and Gas Authority of India Ltd (GAIL) leading the gains. However, Hindustan Petroleum Corporation Ltd (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) are trading in the red. State-run oil marketing firm HPCL has announced its financial results for the quarter ended June 2014 (1QFY15). During the quarter, net sales increased by 16% YoY to Rs 591,517.1 m. The company reported an operating profit of Rs 5,898.4 m during the quarter as against an operating loss of Rs -7,524.9 m during the corresponding quarter of the preceding financial year. Interest expenses declined by 67.8% YoY to Rs 1,295.4 m. At the bottomline level, the company reported a net profit of Rs 460.4 m as against a net loss of Rs -14,604.8 m in 1QFY14.

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

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian share markets open firm". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.