X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 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
Investing in India? Get Equitymaster Research  
Indian share markets open firm 
(Fri, 2 Nov 09:30 am) 
 
Asian stock markets have opened the day on a mixed note with stock markets in Malaysia (down 0.5%) and China (down 0.3%) leading the losses in the region. However, markets in Hong Kong (up 1.3%), Japan (up 1.1%) and South Korea (up 1%) and are trading firm. The Indian share market indices have opened the day with on a firm note. Stocks in the realty, capital goods and power space are leading the gains.

The Sensex today is up by around 131 points (0.7%), while the NSE-Nifty is up by around 39 points (0.7%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.6% and 0.8% respectively. The rupee is trading at Rs 53.69 to the US dollar.

Power stocks have opened the day on a firm note with Reliance Power, Reliance Infrastructure and National Thermal Power Corporation (NTPC) leading the gains. Public sector electric utility firm Power Grid Corporation of India Ltd (PGCIL) has announced financial results for second quarter ended September 30, 2012. During the quarter, the company's total income from operations stood at Rs 30,857.7 m, higher by 36.3% on a year-on-year (YoY) basis. The growth in the topline was driven by 38% YoY increase in transmission income which accounts for 95.9% of the company's total revenue. Operating profits rose by 42.8% YoY to Rs 26,692.6 m as operating margins improved from 82.6% in 2QFY12 to 86.5% in 2QFY13. Other income declined by 19.2% YoY while depreciation charges increased by 38.3% YoY. There was a prior period income of Rs 140 m that was reported during the quarter. At the bottomline level, the company reported net profits of Rs 11,258.9 m, higher by 58.9% YoY over the corresponding period of the previous financial year. It must be noted that PGCIL is India's prime electric power transmission company.

State-run logistics firm Container Corporation of India Ltd (CCIL) has announced financial results for second quarter ended September 30, 2012. During the quarter, the company's standalone revenue stood at Rs 10,548.6 m, higher by 6.1% on a year-on-year (YoY) basis. Operating profits declined by 2% YoY to Rs 2,575.6 m on account of higher rail freight expenses. As such, operating margins declined by 200 basis points (2%) from 26.4% in 2QFY12 to 24.4% in 2QFY13. Tax expenses were lower by 18.9% YoY as the effective tax rate declined by 460 basis points (4.6%) YoY. The net profit growth for the quarter came at 32.5% YoY. However, this was on account of a low base last year due to one-time tax adjustment in 2QFY12. Excluding this one-time item, the growth in the net profits stood at 4.6% YoY. The stock of CCIL has opened in the green.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian share markets open firm". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 18, 2017 (Close)

MARKET STATS