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

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

  • MyStocks

MEMBER'S LOGINX

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

Late selling hit markets
Thu, 17 Oct Closing

Indian equity markets ended the day on the lower side after a range bound trading session. After weeks of a political deadlock that had unnerved global markets, President Barack Obama quickly signed the spending measure which will raise the debt ceiling and ended the US shutdown. Back home, heavy selling in IT stocks led by losses in Tata Consultancy Services (TCS) amid heavy profit booking took the markets lower. Consumer durables, Oil and gas and FMCG sectors led the pack of gainers. While the BSE-Sensex closed lower by 132 points, the NSE-Nifty closed lower by 43 points. BSE Mid Cap and the BSE Mid Cap closed on a positive note.

As regards global markets, Asian indices closed in the red. European indices have also opened in the red. The rupee was trading at Rs 61.3 to the dollar at the time of writing.

HCL Tech announced its first quarter (1QFY14) results of financial year 2013-2014 (the company has a June year ending). Consolidated net sales grew by 14.1% QoQ in 1QFY14. The growth in revenues was 3.6% QoQ in constant currency terms. Operating profits grew by 29.5% QoQ while the margin improved to 26.3% as compared to 23.5% in the last quarter (4QFY13). This was due to slower growth in employee expenses and selling, general & administrative (SG&A) expenses compared to the growth in sales. The net profit grew by a slower pace of 18.8% QoQ compared to the operating profits, due to a forex loss of Rs 2,360 m.

Axis Bank today declared the results for the second quarter and half year ended September 2013 (1HFY14). The bank reported 22% growth in profits for 1HFY14 on the back of 17% YoY growth in loan book. While the retail advances comprised 30% of loan book, the low cost deposit base (CASA) comprised 39% of total deposits. The Net NPA came in at 0.4% of loan book (0.35% in 1HFY13), while restructured assets were 2.1% of loan book. The capital adequacy ratio (CAR) of 16.4% at the end of September is reasonably comfortable. The bank's net interest margin was 3.8% at the end of 1HFY14 as against 3.5% at the end of 1HFY13. The bank held provision coverage of 80% at the end of 1HFY14. The provision coverage before accumulated write-offs was 89%.

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 "Late selling hit markets". Click here!

  

Related Views on News

HCL TECHNOLOGIES Announces Quarterly Results (3QFY21); Net Profit Up 35.1% (Quarterly Result Update)

Jan 18, 2021 | Updated on Jan 18, 2021

For the quarter ended December 2020, HCL TECHNOLOGIES has posted a net profit of Rs 40 bn (up 35.1% YoY). Sales on the other hand came in at Rs 193 bn (up 6.4% YoY). Read on for a complete analysis of HCL TECHNOLOGIES's quarterly results.

HCL TECHNOLOGIES 2019-20 Annual Report Analysis (Annual Result Update)

Dec 29, 2020 | Updated on Dec 29, 2020

Here's an analysis of the annual report of HCL TECHNOLOGIES for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of HCL TECHNOLOGIES. Also includes updates on the valuation of HCL TECHNOLOGIES.

HCL TECHNOLOGIES Announces Quarterly Results (4QFY20); Net Profit Up 24.4% (Quarterly Result Update)

May 7, 2020 | Updated on May 7, 2020

For the quarter ended March 2020, HCL TECHNOLOGIES has posted a net profit of Rs 32 bn (up 24.4% YoY). Sales on the other hand came in at Rs 186 bn (up 16.2% YoY). Read on for a complete analysis of HCL TECHNOLOGIES's quarterly results.

HCL TECHNOLOGIES 2018-19 Annual Report Analysis (Annual Result Update)

Sep 9, 2019 | Updated on Sep 9, 2019

Here's an analysis of the annual report of HCL TECHNOLOGIES for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of HCL TECHNOLOGIES. Also includes updates on the valuation of HCL TECHNOLOGIES.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

More

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

S&P BSE IT


Mar 1, 2021 (Close)

S&P BSE IT 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS