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
  • MyStocks


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

Auto stocks buck the trend
Fri, 26 Oct 01:30 pm

The Indian equity markets continued to trade in the red during the post noon trading session. Barring stocks from the auto space, selling activity is being witnessed across the board with stocks from the consumer durables, healthcare and oil and gas spaces leading the pack of underperformers.

The Sensex today is down by about 120 points, while the NSE-Nifty today is down by 35 points. BSE Mid Cap index and the BSE Small Cap index are down by about 0.6% each. The rupee is trading at 53.76 to the US dollar.

Stocks of FMCG companies are trading weak with United Spirits, ITC and REI Agro leading the pack of underperformers. As per a leading financial daily, Godrej Consumer Products(GCPL) has commenced the third and final phase of expansion in Africa. According to the company, it is growing in excess of 25-30% in Africa and the completion of the third phase in a year is expected to contribute additional revenues of Rs 3.8 bn to group turnover. GCPL has acquired companies in Asia, Africa, South America and Europe to expand presence in the overseas market. The company currently derives around 40% of its revenues from outside India. In Africa, the company has acquired the pan African hair care business of the Darling group and Tura in Nigeria. Through the Darling group, the company has operations in six countries in Africa namely South Africa, Mozambique, Nigeria, Uganda, Kenya and Tanzania. In FY12, Africa contributed 23% to GCPL's international business revenues.

Bajaj Electricals announced its results for the quarter ended September 2012 recently. The company reported a revenue growth of 5% YoY during the quarter. Growth was led by the company's consumer durables and lighting businesses which grew by 23% YoY and 12% YoY respectively. The company's engineering and products (E&P) business witnessed a revenues decline of about 11% YoY during 2QFY13. Further, the company's operating profits declined by 55% YoY as operating margins declined to 3.3% from 7.7% earlier. The performance of the E&P division seems to have been the main culprit for the decline in margins as the segment suffered losses at the earnings before interest and tax (EBIT) level. As for the profits, the same grew by 8% YoY on the back of an extraordinary income. On excluding the same, profits are lower by 80% YoY. As for the 1HFY13 performance, Bajaj Electricals' profits grew by 8% YoY while revenues were higher by 12% YoY.

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 "Auto stocks buck the trend". 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


Feb 21, 2018 01:23 PM