Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

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

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Markets will remain closed on 14th April, 2021 on account of Dr. Baba Saheb Ambedkar Jayanti.

No respite for Indian indices
Fri, 16 Aug 01:30 pm

Backed by persistent selling activity the Indian equity markets continued to trade weak during the post noon trading session. All the sectoral indices are witnessing selling pressures, with consumer durables and banking stocks are the leading losers.

BSE-Sensex is down by 545 points and NSE-Nifty is trading down by 173 points. While BSE Mid Cap is trading down by 1.92%, BSE Small Cap index is trading down by 1.55%. The rupee is trading at 61.67 to the US dollar.

Majority of the FMCG stocks are trading in the red with Hindustan Unilever and Marico being among major losers. As per a leading financial daily, Marico has said that it is looking at expanding its presence in sub-segments of value-added hair oils. The company feels that with rising incomes, consumers are increasingly opting for value-added hair oils. Marico has already established a strong franchise in Nihar, Parachute Advanced and Hair & Care brands. As per the company, its value-added hair oils have a 27% share in the Rs 45 bn value-added hair-oil market. The company wants to introduce new products in these established brands and wants to participate in all sub-segments and have a wider portfolio to drive growth. Presently. Marico derives 16% of its revenues from value-added hair oils. Marico stock is currently trading down by 1.4%.

Most of the Indian pharma Stocks are trading in red, with Orchid chemicals and Glenmark pharmaceuticals are among the leading losers. Wockhardt Pharma has declared its June quarter results. Net sales grew marginally by 1.3% YoY for the quarter. This was due to poor performance in most of its business segments. The operating of the margins also witnessed decline of 5% to 31% in 1QFY14. This too impacted the operating profits which declined by 12.8% YoY. Net profits declined by 14.5% on back of overall increase in expenses and poor topline growth

The company also mentioned that its Chikalthana facility has received some 483 observations from USFDA (United states food and drug administration). Though company continues to manufacture drugs from this facility, the company is also working with USFDA to resolve the observations given by the agency. This facility generated approx $230 m of revenues for FY13 (that is approx 25% of FY13 revenues). Company's important product Toprol XL (which contributes approx 13%-14% to company's topline) is also manufactured in this facility. Wockhardt was trading up by 4.5%.

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

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "No respite for Indian indices". Click here!


Related Views on News

WOCKHARDT Announces Quarterly Results (3QFY20); Net Profit Up 125.0% (Quarterly Result Update)

Jan 28, 2020 | Updated on Jan 28, 2020

For the quarter ended December 2019, WOCKHARDT has posted a net profit of Rs 192 m (up 125.0% YoY). Sales on the other hand came in at Rs 9 bn (down 16.9% YoY). Read on for a complete analysis of WOCKHARDT's quarterly results.

WOCKHARDT Announces Quarterly Results (1QFY20); Net Profit Up 57.2% (Quarterly Result Update)

Aug 28, 2019 | Updated on Aug 28, 2019

For the quarter ended June 2019, WOCKHARDT has posted a net profit of Rs 369 m (up 57.2% YoY). Sales on the other hand came in at Rs 9 bn (down 14.3% YoY). Read on for a complete analysis of WOCKHARDT's quarterly results.

More Views on News

Most Popular

4 Stocks to Make Your Portfolio Immune to the Second Covid Wave (Profit Hunter)

Apr 6, 2021

Rather than predicting the market, successful investing is more about preparing well and placing your bets accordingly.

India: Recovery Stalled by Vaccine Games? (The Honest Truth)

Apr 13, 2021

Ajit Dayal on how India's vaccine strategy will impact the markets.

If the Market Falls, I Will Do This... (Fast Profits Daily)

Apr 1, 2021

What should you do if the market falls? In this video, I'll tell you what I will do.

The Indian Real Estate Party Has Just Begun (Profit Hunter)

Apr 1, 2021

A favourable demand supply scenario makes a strong case for real estate prices.

The Dilemma of Investing in Bharti Airtel Views On News (Views On News)

Apr 1, 2021

Rahul Shah on whether Bharti Airtel will emerge as the next big thing in the Indian stock market


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Apr 13, 2021 (Close)