Indian markets continued to trade weak during the post noon trading session. Sectoral indices are trading mixed. Stocks from metal and auto are among leading gainers, while stocks from realty and FMCG are among leading losers.
Most of the MNC pharma stocks are trading in green, with Pfizer India and Abbott India being the leading gainers. Pfizer India has announced its September quarter results. Net sales grew by 8.6% YoY for the quarter. After hiving off the animal business, large part of company's revenues come from core pharmaceuticals segment. On the operating front, EBITDA grew by 21.5% YoY, leading an improvement in EBITDA margins of 1.7%. The improvement was also on back growth in the other operating income. On the bottom line, PAT grew by 33.1%, largely helped by increase in other income and decline in interest costs. Pfizer is trading up by 5.1%
Majority of the Automobile stocks are trading in the red with Tata Motors and Ashok Leyland being the major losers. As per a leading financial daily, the society of Indian automobile manufacturers (SIAM)has reported automobile sales data. Total sales across various categories were up by 12.5% YOY for the month of October. In this, the car sales dropped by 3.9% YoY while the motorcycle sales have increased by 18.1% YoY for the said period. The truck and bus sales were down by 19.8% YoY during the month. Reportedly, the industry body SIAM now expects that the current financial year will witness negative growth in car sales, considering the declining trend so far.