Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

No respite for Indian indices
Mon, 11 Nov Closing

Indian equity markets languished in the red throughout today's trading session on the back of persistent selling activity across index heavyweights. Although some attempts were made to inch towards the dotted line, these proved futile as profits booking once again took toll in the later hours. While the BSE-Sensex today closed lower by 175 points, the NSE-Nifty closed lower by 62 points. The BSE Mid Cap and the BSE Small Cap were not spared either and lost around 1% each. Losses were largely seen in banking, metals and oil & gas stocks.

As regards global markets, Asian indices closed mixed today while most European indices have opened in the green. The rupee was trading at Rs 63.33 to the dollar at the time of writing.

MNC Pharma stocks closed mixed today. While Pfizer and Sanofi India found favour, GSK Pharma and Abbott India closed into the red. GSK Pharma announced results for the third quarter ended September 2013 (December ending company). The company's net sales during the quarter declined by 7% YoY. It must be noted that most pharma companies witnessed muted sales in the domestic market during the quarter on account of trade disruptions and impact of the new pricing policy. Operating profits plunged 45% YoY as margins shrank by 12.3% to 18.2% during the quarter. The same was on account of a considerable rise in staff costs and other expenditure (as percentage of sales). As a result, net profits fell by 34% YoY. However, on excluding the extraordinary items during both the periods, the fall in net profits was steeper at 40% YoY.

As per a leading business daily, Godrej Consumer Products Ltd (GCPL) announced results for the second quarter ended September 2013. The company's net sales on a consolidated basis were up 22.5% YoY probably led by growth across product segments. Net profits also grew by a healthy 22% YoY. The company focused on strengthening its position in its core businesses as well as making new product launches during the quarter. Going forward, although GCPL has been witnessing robust topline growth, ad-spends in the domestic markets are expected to remain high due to ads being regulated per hour of broadcast by the government. Even margins in the Indonesian and African markets are likely to remain depressed in the near term. The stock closed higher today.

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

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "No respite for Indian indices". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.