Indian equity markets started the day on a positive note and made a new all time high of 21,293. However, the markets turned flat in the afternoon as investors booked profits. Extending the gains for the fourth straight session, markets closed again in the green today. Realty, Banking and Metal sectors were the leading pack of gainers. While the BSE Sensex closed higher by 32 points, the NSE-Nifty closed higher by 8 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 opened in the red. The rupee was trading at Rs 61.9 to the dollar at the time of writing.
Bank of Baroda has announced its result for the quarter ended September 2013 (2QFY14). Net interest income grew by 1.1% YoY in 2QFY14, on the back of 16% YoY growth in advances. Other income grew by 17.6% YoY in 2QFY14 owing to robust trading gains. Net interest margins for the quarter dipped to 2.3% levels. Operating costs spiked up by 33.3% YoY on account of wage-related provisions. Net NPAs moved up sharply from 0.82% in 2QFY13 to 1.86% in 2QFY14. Net profit declined by 10.2% YoY in 2QFY14 on the back of poor interest income, and increased operating and provision expenses for the quarter. Capital adequacy ratio stood at 12.07% at the end of 2QFY14.
Colgate has sldo announced results for the quarter ended September 2013. Colgate posted a 13.7% topline growth primarily driven by 10% volume growth. The toothpaste segment grew by 9% and strengthened its leadership position to 56% volume market share for 9mCY13 as compared to a share of 54.6% for the year-ago period. In toothbrush, the company's market share rose to 41.4% for 9mCY13 as compared to a share of 39.3% for the year-ago period. At the net level, profit slumped by 24.5% on the back of a 16.8% fall in operating profits and a 12.4% drop in other income. The tax incidence rose to 26% in 2QFY14 from 19% in the year-ago quarter.