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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Markets close at all time high 
(Wed, 30 Oct Closing) 
 
Indian equity markets started the day on a positive note and never looked back. The benchmark indices hit fresh 35 month high as foreign institutional investors continued to pump in dollars ahead of the US Federal Reserve meet. Pharma, FMCG and Power stocks were the leading pack of gainers. While the BSE-Sensex closed higher by 104 points, the NSE-Nifty closed higher by 30 points. BSE Mid Cap and the BSE Small Cap closed on a positive note.

As regards global markets, Asian indices closed in the green. European indices have also opened in the green. The rupee was trading at Rs 61.3 to the dollar at the time of writing.

Shriram Transport Finance (STFC) has announced its result for the quarter ended September 2013 (2QFY14). The institution grew its income from operations by 23% YoY but the profits declined 3% YoY during 2QFY14. The profits for the first half of FY14 grew by 2% YoY. Higher provisions marred the profitability of the company. Income from operations grows 23% YoY in 2QFY14 with a healthy growth in on-book assets of 28%. Net interest margins moved down to 6.9% in 1HFY14 from higher levels of 7.6% in 1HFY13. While other income shot up substantially, the net income from securitization fell drastically during 2QFY14. Gross NPAs inched upwards to 3.3% from 2.9% earlier, while the net NPA ratio increased to 0.7% in 2QFY14 from 0.6% in 2QFY13. The cost-income ratio was marked at 25% for the second quarter FY14.

Lupin has announced results for the quarter ended September 2013 (2QFY13). Net sales grew by 18% to Rs 26,315 m. during 2QFY14, up from Rs 22,393 m in 2QFY13. EBITDA margin grew by 42% to Rs 7,410 m. during 2QFY14, up from Rs 5,202 m in 2QFY13. Net profit grew by 40% to Rs 4,062 m. during 2QFY14, up from Rs. 2,905 m in 2QFY13. USA and Europe formulation sales (including IP) grew by 31% to Rs 11,089 m. during 2QFY14, contributing 42% to overall company sales. US brands business contributed 10% of total US sales, whereas the generics business contributed 90%. The Indian formulations business contributed 25% of the company's overall revenues for the quarter. The company's India formulation business grew by 9% recording revenues of Rs 6,635 m. during 2QFY14.

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