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?  

Sensex Opens Firm; HDFC Bank Gains on Good Q2 Result
Mon, 22 Oct 09:30 am | Rini Mehta, TM Team

Asian stocks are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 3.8% while the Hang Seng is up 1.9%. The Nikkei 225 is trading down by 0.3%. The US benchmark S&P 500 index edged lower on Friday as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth.

Back home, India share markets have opened the day on positive note. The BSE Sensex is trading up by 188 points while the NSE Nifty is trading up by 50 points. The BSE Mid Cap index opened the down by 0.7% while BSE Small Cap index opened the day up by 0.2%.

Barring information technology stocks and realty stocks, all sectoral indices have opened the day in green with FMCG stocks and metal stocks witnessing maximum buying interest.

The rupee is trading at Rs 73.37 against the US$.

Pharma stocks opened the day on a mixed note with Orchid Pharma and Biocon Ltd leading the gainers. As per an article in a leading financial daily, the European Medicines Agency (EMA) has adopted a positive opinion recommending marketing authorisation of Lupin product NaMuscla. It is used for the symptomatic treatment of non-dystrophic myotonic (NDM) disorders.

Reportedly, the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the EMA, has adopted a positive opinion recommending the marketing authorisation of NaMuscla (mexiletine hydrochloride).

--- Advertisement ---
How to Survive This Stock Market Crash?

The market has entered a meltdown mode. Many wonder, what happens next?

Today we're going to show you how one could survive this Market Crash and even take advantage of it using our small cap stocks recommendation service.

We must say … this is a perfect time to get rich from this proven strategy.

Click here to learn more.

NaMuscla is a product of Lupin Neurosciences, a specialty pharma division of the company.

The CHMP's positive opinion will now be reviewed by the European Commission (EC), which has the authority to approve medicines for the European Union (EU).

If approved, NaMuscla will be the first treatment licensed throughout the EU for the symptomatic treatment of myotonia in adults with NDM disorders.

According to IQVIA, a pharma consulting and research company, the largest proportion of new medicines launched in the last five years has been speciality drugs.

Here's an excerpt of what Research Analyst, Kunal Thanvi wrote about this segment recently,

  • "Going forward, speciality medicines will drive spending in developed markets.

    Indian pharma companies have been investing in their global speciality business for the last few years.

    Through this initiative, the pharma industry is trying to gradually move up in the value chain.

    However, this will entail significant front-ended investments. The corresponding revenue will accrue over a period of time."

Lupin share price opened the day up by 1.5%.

To know more about the company, you can access to Lupin's Q1FY19 result analysis and Lupin's 2017-18 Annual Report Analysis on our website.

Moving on to the news from banking sector. HDFC Bank's second-quarter FY19 net profit rose 20.6% on the back of higher net interest income and other income.

The bank posted a net profit Rs 50.1 billion for the three months ended 30th September, compared with Rs 41.5 billion in the year-ago period.

Net interest income increased 20.6% to Rs 117.6 billion, from Rs 97.5 billion in the corresponding period last year.

Other income, which includes core fee income, rose 11.4% to Rs 40.2 billion during the period, from Rs 36.1 billion a year ago.

Gross non-performing assets (NPAs), as a percentage of total advances, were at 1.33% in the September quarter, against 1.33% in the June quarter and 1.26% a year ago.

Provisions during the quarter increased 23.3% to Rs 18.2 billion, against Rs 14.8 billion in the year-ago quarter. In the April-June quarter, the bank had set aside Rs 16.3 billion in provisions.

Post-provision, the net NPA ratio was at 0.40% against 0.41% in the April-June quarter, and 0.43% in the year-ago quarter.

Interestingly, HDFC Bank has enjoyed the distinction of being the bank with the most premium valuation for nearly two decades. For over 60 quarters, the bank has declared results which showed loan book growing over 18% YoY, net interest margins between 3.8% and 4.2% and net NPAs below 1%.

Irrespective of the rate of GDP growth, inflation and interest rates, the bank never bothered to bring big variations in operating performance.

Consistency in Valuations Over Two Decades

It happily let go of market share in risky assets and never appeased big corporate borrowers. The consistency in the valuations of the bank is something investors will have to be watchful about in coming years.

HDFC Bank share price opened the day up by 1.5%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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 "Sensex Opens Firm; HDFC Bank Gains on Good Q2 Result". Click here!


Stock Market Updates

OIL & GAS Sector Best Performer this Week; HEALTHCARE Lags... (Today's Market)

Nov 17, 2018

Here are sectors that gained the most in this week. Read on for weekly market stats and individual sector performance.

BSE Small-Cap Index Falls 0.4% This Week; Here are Smallcaps that Lost the Most... (Today's Market)

Nov 17, 2018

Here are stocks that lost the most in BSE Smallcap this week. Read on for weekly market stats and individual stock performance.

BSE Mid Cap Index Surges 1% This Week; Here are Midcaps that Gained the Most... (Today's Market)

Nov 17, 2018

Here are stocks that gained the most in BSE Midcap this week. Read on for weekly market stats and individual stock performance.

BSE Sensex was Up 1.9% This Week; Here are Stocks that Gained the Most... (Today's Market)

Nov 17, 2018

Here are stocks that gained the most in BSE Sensex this week. Read on for weekly market stats and individual stock performance.

Sensex Ends 197 Points Higher; Healthcare & FMCG Stocks Witness Buying (Today's Market)

Nov 16, 2018 Closing

While the BSE Sensex closed higher by 197 points, NSE Nifty closed higher by 66 points.

BHARTI AIRTEL Surges by 10%; BSE 500 Index Up 0.4% (Today's Market)

Nov 16, 2018 03:19 PM

BHARTI AIRTEL share price has surged by 10% and its current market price is Rs 336. The BSE 500 is up by 0.4%. The top gainers in the BSE 500 Index are BHARTI AIRTEL (up 10.4%) and VODAFONE IDEA (up 16.3%). The top losers are D. B. CORP and BLISS GVS PHARMA .

View More Indian Share Market News

Most Popular

These Are the Kind of Blue Chips You Should Invest In(The 5 Minute Wrapup)

Nov 9, 2018

All blue chip companies are large caps but all large caps are not blue chips.

Get this Small Cap Logistics Company at a 16% Discount Right Now...(Profit Hunter)

Nov 6, 2018

If you turn the clock back, the current macroeconomic climate is nothing new. The markets have seen them all, and every downcycle has been succeeded by gravity defying gains...more so in the small cap space. This time will be no different.

This Was a Large Cap. But Was It Safe?(Chart Of The Day)

Nov 9, 2018

Investing in large caps is not always safe. Consider the right metrics to judge the safety and quality of large caps.

Why the Realty Sector's Recovery Has Been Delayed(Sector Info)

Nov 15, 2018

NBFC and IL&FS crisis have worsened the realty sector woes. Is there a light at the end of the tunnel for real estate sector?

Does it Make Sense to Invest in Offshore Funds?(Outside View)

Nov 6, 2018

Many investors prefer to invest in offshore funds because of the rupee depreciation and on-going downtrend in the markets, but it is to be invested only when there is no option available to invest in India.


Small Investments
BIG Returns

Zero To Millions Guide 2019
Get our special report, Zero To Millions
(2019 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Nov 16, 2018 (Close)