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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Upward momentum continues 
(Wed, 7 Nov 01:30 pm) 
 
The Indian markets continued to gain momentum during the post noon trading session. Barring stocks from the oil and gas spaces, buying activity is being witnessed across the board with stocks from the realty and banking spaces leading the pack of gainers.

The Sensex today is trading higher by about 150 points (up 0.8%), while the NSE-Nifty is trading lower by about 50 points (up 0.9%). Stocks from the midcap and smallcap spaces are also trading firm with the BSE Mid Cap and BSE Small Cap indices up by about 1% and 0.8% respectively. The rupee is trading at 54.11 to the US dollar.

Stocks of telecom companies are currently trading firm led by Reliance Communications Idea Cellular. Telecom major, Bharti Airtel announced its results for the quarter and six-month period ended September 2012 recently. The company's reported a 17% YoY revenue growth during the second 2QFY13. At the operating level, the company's profits increase by 9% YoY as operating margins declined to 31.3% from 33.7% in 2QFY12. Lower operating margins coupled with higher depreciation charges led profits to decline by about 30% YoY during the quarter. Profits were also impacted negatively by the increase in tax outflow during the quarter. For the six months ended September 2012 (1HFY13), consolidated net sales increased by 15.7% YoY, while profits declined by 34% YoY. During the quarter, the company grew its mobile subscriber base by 8% YoY taking the total count of subscribers to about 186 m at the end of September 2012.

Stocks of FMCG companies are trading firm led by United Spirits, Godrej Consumer and Dabur. Britannia Industries announced its results for the quarter ended September 2012. The company reported a 9% rise in standalone revenues led by 7-8% volume growth. Its operating performance improved slightly on the back of waning commodity inflation coupled with cut in employee costs. As a result, each of the cost of goods sold and employee costs (as a proportion of sales) fell by more than 100 basis points. This enabled the company to more than offset higher ad-spends, conversion charges and other expenditure. Britannia saw its operating margin increase by 40 basis points to 5.3% during the quarter. Earnings grew by a faster 20.5% backed by 17% rise in operating income coupled with 9% cut in interest charges.

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Sep 20, 2017 (Close)

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