After opening flat, the Indian Indices are witnessing broad based selling pressures during the morning trading session. Barring stocks from consumer durables and pharma sector all the sectoral indices are trading in red. Stocks from metal and capital goods sector are witnessing maximum selling pressures.
The BSE-Sensex is trading down 121 points. The NSE-Nifty is trading down 27 points. The BSE Mid Cap index is trading up 0.2% while the BSE Small Cap index is trading down by 0.22%%. The rupee is trading at 61.51 to the US dollar.
Indian pharma stocks are trading mixed today. While Aurobindo pharma and Glenmark Ltd are the leading gainers; Dishman pharma and Ipca labs are among the leading losers. Cadila Healthcare has declared September 2014 quarter results. Net sales grew by 21.2% YoY . US formulations and Domestic API were the key contributors for this robust performance. Both these segments grew by 67.6% YoY and 115.6% YoY respectively. The operating margins too surged by 520 bps to 19.97% during the quarter. Net profits surged by 51% YoY for the quarter.
Most of the Food and Tobbaco stocks are trading weak with Britannia and Tata Global Beverages being the leading losers. GlaxoSmithKline Consumer Ltd has declared September quarter results. The company has posted topline growth of 10.1% YoY during the quarter. The operating margins were down by 140 bps. Increase in the overall operating expenses impacted the margins. The other income of the company increased by 42% YoY. This too helped the bottom line. The net profits of the company too grew by 10% YoY for the period.