The BSE-Sensex is trading up 24 points. The NSE-Nifty is trading up 8 points. Mid cap stocks are in favour today. The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up by 0.1%. The rupee is trading at 61.54 to the US dollar.
Majority of Indian pharma stocks are trading firm today, with Natco Pharma and Cadila healthcare being the leading gainers in the pack. Ipca laboratories has declared its September quarter 2014 results. Net sales for the quarter were down by 7% YoY, due to decline in exports revenues. The exports sales declined by 23% YoY during the quarter. The operating margins too dipped by 1044 bps (10.44%) due to decline in sales and increase in operating expenses. Subsequently, the net profits plummeted by 53% YoY. Ipca was trading up by 1.65% at the time of writing.
Fertilizer stocks are trading mixed with Godavari Fertilizers and Zuari global being the leading gainers while, Nagarjuna Fertilizers and Madras Fertilizers being the leading losers in the pack. Tata Chemicals has declared its September quarter results. Total income from operations increased by 11% YoY. Higher sales volumes in the domestic businesses contributed to this growth. Company has undergone restructuring in its Europe and Kenya business, the Kenya restructuring got completed recently. Reportedly, some positive signs of this restructuring exercise is seen in the company's performance. The company's interest costs declined by approx 30% YoY. On the back of good performance, lower interest and taxes net profit was up by 91% YoY.