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Indian stock markets continue in the green
Tue, 13 Aug 11:30 am

After opening on a subdued note, the Indian stock markets have moved to trade in the green during the morning session. A majority of the sectoral indices are trading in the green with the stocks in the Information Technology and Realty sectors being the biggest gainers. However, the consumer durables and metal indices are trading in the red.

The BSE Sensex is up 130 points and the NSE-Nifty is trading up 38 points. The BSE Mid Cap is trading up 0.6% while the BSE Small Cap index is trading up 0.7% The Rupee is trading at 61.42 to the US Dollar.

Most of the Realty stocks are trading positive today. Anant Raj is trading up by 6.5% and DLF Ltd is up by 3%. The management of DLF Ltd has maintained its net debt reduction guidance of Rs 175bn for the financial year. The company reported better than expected topline performance as income from operations, rose by 5% YoY to Rs 23.14bn in the quarter. The net profit fell by 38% YoY to Rs 1.81bn, mainly due to a 20% YoY increase in total expenses to Rs 15.76bn from Rs 13.09bn. This however compares favorably to a loss of Rs 40mn in 4QFY13.

Capital goods stocks are trading mixed today. TRF Ltd and Thermax are leading the gains; while EMCO Ltd and Bharat Bijlee are leading the losses. Larsen & Toubro (L&T) has recovered a bit after falling about 13% in 3 weeks post its quarterly result announcement. The company announced yesterday that it has received orders worth Rs 41.6bn in the month of July and August 2013. Its Buildings and Factories business segment has bagged orders worth Rs 23.2 bn; while the Power T&D business has received orders worth Rs 9.7bn. Water and Renewable Energy business has secured orders of Rs 7.4bn. There were also few additional orders worth Rs 1.3bn.The stock of L&T is trading up by 1.4% today.

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