Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
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?  

Indian markets open firm
Fri, 9 Oct 09:30 am

The major Asian stock markets have opened the day on a positive note. Stock markets in Indonesia, Hong Kong and Singapore are trading up by 2.6%, 1.7% and 1.5% respectively. The major stock indices in Europe and US ended their previous session in green. The rupee is trading at 64.87 per US dollar.

Indian stock markets have opened the day on an encouraging note. BSE-Sensex is trading higher by 319 points (up 1.2%) and NSE-Nifty is trading higher by 93 points (up 1.1%). S&P BSE Midcap and S&P BSE Smallcap have moved upward and are trading higher by 0.9% and 1% respectively. The sectoral indices have opened the day on a positive note with stocks from metals, banking and capital goods sector witnessing buying interest.

The earnings season is upon us now. A gentle reminder that Asad Dossani, editor of Daily Profit Hunter is set to disclose his latest trading strategy to make "Income at Will" in a Master Series which is set to go live in the next 30 minutes (at 10 am). We strongly recommend that in case you have not done so already, please click here to reserve your Free seat right away.

Bajaj Corp Ltd declared its results for the quarter ending September 2015. The revenues of the company grew by 10.7% on a YoY basis to Rs 2,082 m. The net profits of the company grew by 25% on a YoY basis to Rs 468 m.

The operating (EBITDA) margins expanded by 3.4% to 31.1% mainly on account of lower prices of Light Liquid Paraffin (LLP). LLP accounts for approximately 31.77% of their overall cost. Their flagship brand 'Almond Drop Hair Oil' accounted for 90.5% of the total turnover of the company.

The acquired brand 'No Marks' is going through tough times. The management stated that the brand will take atleast two quarters more to show any traction.

The company has started marketing its products in six new countries. Further, they are facing tough times in Nepal due to political turmoil and the volume growth has remained tepid from this geography.

Madhu Gupta, Managing editor of ResearchPro, recently released a detailed analysis of the company's results (subscription required). In the note Madhu explains factors driving the performance of the company in this period and what to expect going forward. If you are interested in the stock, then this is a must read!

The Reserve Bank of India has increased the amount the banks can advance for a property purchase. As per an article in Livemint, new provisions allow a loan to value (LTV) ratio of 90% for loans of Rs 3 m or less. Under the old provisions, 90% LTV was allowed for loans up to Rs 2 m.

Loan to value (LTV) symbolizes how much of the property value a bank can lend to the borrower. Supposedly the value of the property is Rs 100. The LTV ratio is 90%. Then the bank can lend Rs 90 to the borrower. This means that the borrower will have to shell out only Rs 10 from his own pocket to finance the purchase of the property.

The real estate sector is in a big mess and is facing a prolonged slowdown. The move of the RBI is also in conformity with the government's plans to build 20 million houses for the urban poor by 2022. The move will also enhance the ability of the weaker sections of the society for affordable-low cost housing.

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

Equitymaster requests your view! Post a comment on "Indian markets open firm". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Mar 23, 2018 (Close)