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Markets get a boost in final session
Tue, 12 Aug Closing

After trading in a rangebound manner for most part of the day, buying activity picked up in the final hour of trade. The BSE-Sensex ended the day higher by about 361 points or 1.4%, while the NSE-Nifty ended higher by about 1.3% or 101 points. Gains were seen in stocks across the board with those from the auto and oil and gas spaces being the top performers today. The BSE Mid Cap and BSE Small Cap indices ended the day on a firm note as well, with the indices closing higher by about 0.5% each.

Stock markets in other parts of Asia closed firm with Japan and Hong Kong reporting gains of about 0.2% each. European stocks were trading mixed when the Indian stock markets closed. The rupee was trading at Rs 61.18 to the dollar at the time of writing.

Auto stocks ended the day on a firm note led by Eicher Motors, Tata Motors and Escorts. Eicher Motors announced its results for the quarter ended June 2014 recently. The company reported a strong 35% YoY growth in consolidated revenues, while profits were up by 71% YoY. Growth was led by the company standalone business (Royal Enfield) wherein revenues and profits were up by 95% YoY and 153% YoY respectively. It may be noted that the standalone business' contributed to about one-third of consolidated revenues and about 65% of consolidated operating profits during the quarter gone by. The company's subsidiary (VECV - its commercial vehicles business) witnessed a revenue growth of 16% YoY while operating profits remained flat. The stock of Eicher Motors ended the day higher by about 8% today.

Power stocks ended the day on a firm note led by PTC India, JSW Energy and NTPC. PTC India announced its results for the quarter ended June 2014 recently. The company's revenues were up by 33% YoY during the quarter. Sales volumes came in higher by 23% YoY. Operating profits were up by 69% YoY as margins expanded to 1.6% from 1.2% in same quarter last year. Profits before tax were up by 62% YoY led by higher other income in addition to a strong operating performance. The company's profits were up by 48% YoY. Ending with gains in excess of 7%, the stock of PTC India was amongst the top performing power stocks today.

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Feb 19, 2018 (Close)