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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Mkts start the week on a flat note 
(Mon, 21 Oct Closing) 
 
The Indian markets ended the day on a flat note today with the BSE-Sensex closing higher by about 11 points only. The NSE-Nifty ended higher by about 15 points or 0.3%. Stocks from the engineering and realty spaces were amongst the top gainers today, while those from the FMCG and information technology spaces were amongst the top losers. Midcap and smallcap stocks ended the day on a firm note with the BSE Mid Cap and BSE Mid Cap indices closing higher by 0.9% and 1.3% respectively.

Asian indices ended the day on a firm note with China, Hong Kong and Japan closing higher by about 1.6%, 0.4% and 0.9% respectively. The rupee was trading at Rs 61.52 to the dollar at the time of writing.

Stocks of financing companies ended the day on a firm note with IDFC, Mahindra Finance and Shriram Transport Finance ending the day on a firm note. Housing finance company HDFC announced its results for the quarter and half year ended September 2013 today. The company reported an 11% YoY growth in net interest income while net profits grew by 10% YoY during 2QFY14. The total loan book grew by 19% YoY, while the net interest margins (NIMs) contracted by a minor 0.1% to 4.1% At the end of the quarter HDFC's capital adequacy ratio and gross NPAs stood at 19% and 0.8% respectively. The stock of HDFC ended higher by about 0.6% today.

Stocks of two-wheeler companies Bajaj Auto, TVS Motors and Hero MotoCorp all ended the day on a firm note. As reported in a leading business daily, Hero MotoCorp has finished testing its new engines and will be launching them in selected products next year. These are believed to be engines having capacities of 100 cc, 110 cc and 250 cc. It was not long ago when the company unveiled 15 new products that it plans on launching over a period of six months. These include a refreshed version of existing models. In addition to this, the company has targeted launching additional 35 products over a period three years. While Hero does have the rights to source engines from Honda till 2017, it seems the company is looking to make a full transition to using its own in house developed engines by 2016. For the same the company has put together an R&D team to evaluate consumer requirements in the home market coupled with technical tie ups with other global players related to designs and engines, amongst others. The company has invested Rs 4.5 bn towards an R&D centre near Jaipur, Rajasthan which is expected to be commissioned in early 2015. The stock of Hero MotoCorp ended flat.

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