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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian Indices Open Flat
Tue, 23 Aug 09:30 am

Barring China, major Asian stock markets have opened the day on a negative note. Stock markets in Indonesia and Hong Kong are trading lower by 0.8% and 0.4% respectively. Benchmark indices in Europe and US ended their previous session in red with stock markets in Germany ending the day lower by 0.5%. The rupee is trading at 67.18 per US$.

Indian stock markets have opened the day on a flattish note. The BSE Sensex is trading marginally lower by 40 points (down 0.1%) and the NSE Nifty is trading lower by 10 points (down 0.1%). BSE Mid Cap and BSE Small Cap too are trading marginally lower by 0.08% and 0.01% respectively.

Barring stock from the information technology (IT) sector, major sectoral indices have opened the day on a negative note. Stocks from capital goods sector are witnessing maximum selling pressure.

National Thermal Power Corporation (NTPC) reported its results for the quarter ended June 2016. The net profits of the company grew by 4.5% YoY during the quarter to Rs 23.7 billion. The profits grew on the back of higher generation and better capacity utilization.

The company produced 64.5 billion units of electricity during the quarter, a jump of 11% as compared to a year ago. The company added 2,130 megawatts (MW) to its installed capacity in the quarter ended June.

Further, the utilization levels of thermal power plants-Plant Load Factor (PLF) improved by 3% YoY to 81% during the quarter.

The average tariff of power sold reduced to Rs 3.12 a unit from Rs 3.18 a year ago, mainly on the back of lower fuel charges. Fuel portion mainly comprises of coal costs. Expenses on account of coal reduced on the back of minimal imports of coal coupled with the rationalization of coal linkages. As fuel charges are a pass through, the overall average tariffs reduced.

The company has 24,000 MW of capacity under construction, which it intends to complete by FY 2020. Successful completion of these projects coupled with demand from loss-making state electricity boards (SEBs) will be the key things to watch out for going forward. The stock of NTPC is trading down by 0.7%.

In another news update, Lupin has received an approval from the Central Drugs Standard Control Organisation (CSDO) to launch a 100mg acotiamide tablet in India which is used to treat indigestion. The company is geared to commence the promotion of this product shortly.

Further, clinical trials phase- III in Europe and phase- II in the US have also been conducted for the drug. The estimated market for the gastronomical drug is pegged at about Rs 114.3 billion and is growing at 13% annually.

Acotiamide is a novel drug, being introduced in India for the first time. Reportedly, a novel drug is any active compound or molecule that has previously not been approved by the country's drug regulatory body. The stock of Lupin is trading down by 0.5%.

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May 23, 2017 12:21 PM

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