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 indices continue to trade strong
Tue, 13 Aug 01:30 pm

Indian equity markets continued to trade in green during the post noon trading session. Barring stocks from metal stocks, all the indices are trading in positive territory. Realty and Auto stocks are witnessing maximum buying interest.

BSE-Sensex is up by 172 points and NSE-Nifty is trading up by 52 points. While BSE Mid Cap is trading up by 0.92%, BSE Small Cap index is trading up by 0.57%. The rupee is trading at 61.24 to the US dollar.

Majority of FMCG stocks are trading in the green with Maricoand Colgate being the biggest gainers. Emami and Gillette India are among the few stocks trading in the red. Marico announced its results for the quarter ended June 2013. The company reported a growth of 8.8% YoY in consolidated revenues led by a 7% rise in domestic operations and 15.4% YoY increase in international business. The topline growth was volume driven with domestic FMCG and international FMCG clocking growth in offtake of 10% and 9%, respectively (on a YoY basis). The Kaya skin care business recorded sales growth of 7.7% YoY during the quarter. The operating margin expanded by 1.9% YoY to 16.6% on the back of easing price of commodities and rationalization in other expenses (both as a proportion of sales). Net profit surged by 28.9% YoY aided by a lower interest outgo and modest rise in depreciation charges. With effect from the start of 2013, the company has changed the method of providing depreciation on plant & machinery from 'Written down value' method to 'Straight line' method. As a result depreciation charges were lower by Rs 24.5 m during the quarter.

Most of the Indian pharma Stocks are trading in green, with Orchid chemicals and JB chemicals leading the pack of gainers. Glenmark Pharma announced that the company has received approval from USFDA (United States food and drug administration) for Acamprostate Calcium delayed release tablets. The drug is a generic version of Forest Laboratories brand Campral delayed release tablets. The drug is indicated for the maintenance of abstinence from alcohol in patients with alcohol dependence. The total brand size of the drug is US$ 21 m in US. Glenmark is the only company to get the generic approval for the drug. As there are no pending orange book patents, we believe company can launch the drug anytime. Glenmark was trading down by 0.4%.

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 indices continue to trade strong". 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.