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Realty stocks lead the rally
Fri, 4 Nov 11:30 am

Indian stock market indices are trading strong over the last two hours of trade on the back of heavy buying interest across index heavyweights. Realty and Metal stocks witnessed maximum buying interest.

The BSE-Sensex is up by 187 points, while the NSE-Nifty is up by 47 points. BSE Mid Cap index and the BSE Small Cap index are up by 1.12% and 0.95% respectively. The rupee is trading at 49.08 to the US dollar.

Hindustan Unilever (HUL) announced its results for the second quarter and half year ended September 2011. Revenues of HUL grew by 17.8% YoY during 2QFY12 on the back of volume & value growth. The growth was broad based with all segments reporting double-digit growth. For H1FY12, sales increased by 16.4% YoY aided by over 15% growth recorded by home & personal care and packaged food segments. Operating (EBITDA) margin was up by 110 basis points YoY to 14.7%. Cuts in advertisement spends and other expenses, as a percentage of sales, more than made up for the higher raw material to sales ratio during the quarter. The company maintained its operating profitability at 14% in H1FY12. Net profit during the quarter rose by a relatively slower 21.7% YoY on account of a 42% jump in tax outgo. PAT for H1FY12 was up by 19.7% YoY. The stock is trading lower currently.

Telecom stocks are trading strong with MTNL being the biggest gainer. Bharti Airtel has announced results for the quarter ended September 2011. The company has reported a 13.4% YoY increase in sales and 38.1% YoY fall in net profits. EBITDA margin stood at 33.7%. The fall in net profits was because of higher interest costs and foreign exchange losses. Revenues from Africa business increased by 23% YoY. The company has launched 3G services in Congo B and Airtel Money in Zambia and Kenya. The monthly average revenue per minute (ARPU) for Airtel's African operations stayed flat at US$ 7.3 during the reporting quarter, while average usage increased to 128 minutes in the quarter ended September from 121 minutes in the June quarter this year.

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