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

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian stocks markets open in red
Fri, 21 Oct 09:30 am

Asian stock markets have opened the day on a mixed note. Stock markets in China (down 0.3%), Indonesia (down 0.2%) and Japan (down 0.1%) are in the red while Honk Kong (up 0.1%), Singapore (up 0.6%) and South Korea (up 1.0%) are in the green. The Indian stock markets have opened the day on a flat note with a negative bias. Stocks in the Oil & Gas and Realty space are leading the losses. However, auto stocks are in the green.

The BSE-Sensex is trading lower by 2 points (0.01%) and the NSE-Nifty is lower by around 20 points (0.4%). However, BSE Midcap and BSE Small cap stocks are trading in the green, with the BSE Mid Cap and BSE Small Cap indices up by 0.1% and 0.2% respectively. The rupee is trading at 49.85 to the US dollar.

Pharma Stocks have opened the day on a firm note with Ranbaxy and Sun Pharma in the green. Biocon has announced its first quarter results for 2012 (2QFY12). The company has reported 21.0% YoY increase in sales while net profits have increased by 4.6% YoY. Net sales growth was supported by strong performance of biopharma and contract research services. Operating margins (EBIDTA) decreased by 460 basis points (4.6%) on account of higher employee costs and raw material costs (as a percentage of sales). Increase in R&D (research & development) expenditure put further pressure on margins. Net profits, without considering AxiCorp, grew by a mere 4.6% YoY due to a sharp fall in operating margins.

Private bank stocks have opened the day on a weak note with Housing Development Finance Corporation (HDFC Bank) and Yes Bank leading the losses. Yes Bank has declared the results for the second quarter and first half of the financial year 2011-12 (1HFY12). The bank has reported a 29% year-on-year (YoY) growth in net interest income and 36% YoY growth in net profits for the half year period ended September 2011. Interest income grew by 29% YoY in 1HFY12 on the back of a 26% YoY growth in advances. The net interest margins (NIMs) were marginally affected due to pressure on interest costs. Other income grew by 38% YoY due to a strong growth in fee income. The bank had negligible net non-performing assets (NPA) to advances. Gross NPAs stood at 0.2% of advances at the end of September 2011. The capital adequacy ratio (CAR) stands at a comfortable level of 16% at the end of 1HFY12.

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

View all commentaries | Archives

Read the latest Market Commentary


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

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.