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?  

Flat End to the Day, SBI Loses 1.6%
Thu, 27 Oct Closing

Indian share markets ended the day on a flattish note. At the closing bell, the BSE Sensex stood higher by 80 points, while the NSE Nifty finished flat. The S&P BSE Mid Cap & the S&P BSE Small Cap finished lower by 1% and 0.8% respectively.

Asian markets finished on a mixed note as of the most recent closing prices. Stock markets in Hong Kong and Taiwan ended the day lower by 0.8% and 0.7% respectively. While, stock markets in Indonesia ended the day higher by 0.3%. At the time of writing, European markets are trading on a negative note with stock markets in France trading lower by 0.3%.

The rupee was trading at 66.8 against the US$ in the afternoon session.

Hero MotoCorp reported its results for the quarter ended September 2016. The company reported the highest ever net profit in it's history during this quarter. Net profits grew by 27.7% YoY to Rs 10 billion during the quarter.

Revenues too grew by 15% YoY to Rs 84.8 billion during the quarter. The company posted healthy revenues on the back of the ongoing festive season demand. Further, normal monsoon too played its part in boosting consumer sentiments to buy two-wheelers.

Operating margins too widened by 1.29% YoY to 16.2% during the quarter on the back of soft commodity prices and cost controls.

Going forward, the company intends to step up the pace of new product launches. In this regard, the first two scooters developed by the company's in-house R&D team is a positive sign.

On the capex front, the company will be investing in its R&D centre as well as the Gujarat plant and has guided for a capex of Rs 11-13 billion in FY17. The first phase of the Gujarat plant (capacity of 750,000 units) is expected to come on stream in the latter half of FY17.

Emerging competition from Honda Motorcycle and Scooters India Pvt Ltd will be the key things to watch out for. The share price of Hero MotoCorp closed the day trading lower by 3.1%.

In another news update, ITC too reported its results for the quarter ended September 2016. The company's revenues grew by 9.6% YoY during the quarter. While, operating profits and net profits grew by 7% and 10.5% respectively during the quarter as compared to a year ago.

Revenues from the cigarette business grew by 7% YoY during the quarter. Operating profit at the cigarette business grew by 8.4% YoY and the operating margins improved by 0.43% YoY to 37.7% during the quarter.

The non-cigarette packaged consumer goods business too grew by a healthy 13% YoY. However, subdued growth from the non-consumer business such as agriculture and hotel business dragged the overall performance of the company.

As cigarette business contributed to four fifth of the company's profits, the performance of this division will be the key things to watch out for. There is always the potential in the new Goods and Service Tax (GST) regime to levy taxes on cigarettes over and above the peak GST rate. If this were to happen, it could possibly have an impact on the company's earnings. The share price of ITC closed the day trading higher by 1.9%.

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 "Flat End to the Day, SBI Loses 1.6%". Click here!

  

Views on News

Top 5 Recent IPO Developments You Should Know (Views On News)

May 12, 2021

So far in 2021, IPOs in India have raised nearly US$ 3 bn, the best start to the year since 2018.

How Did Mindtree Perform in Q4FY21? (Company Info)

Apr 20, 2021

Here's the rundown on the company's latest quarterly results.

Parag Parikh Conservative Hybrid Fund: Should You Invest in Higher Debt Allocation? (Outside View)

May 14, 2021

PersonalFN analyses the features of Parag Parikh Conservative Hybrid Fund and explains the potential this fund has to offer to its investors.

Die Hard 4.0 Redux? (Fast Profits Daily)

May 14, 2021

A Hollywood style cyber-attack has caused shockwaves across financial markets.

What Godrej Consumer's 22% Single-Day Gain Tells About My Blueprint (Profit Hunter)

May 14, 2021

The company's FY21 earnings performance turned out better than my estimates but...

More Views on News

Most Popular

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Worst Sector in the Market (Fast Profits Daily)

May 11, 2021

The worst sector in the stock market according to the charts.

The Key to Profit from India's EV Revolution (Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.

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 SENSEX


May 14, 2021 03:37 PM

MARKET STATS