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?  

Indian share markets open firm
Thu, 13 Nov 09:30 am

Asian stock markets have opened the day on a mixed note with the markets in Japan (up 1%) and Singapore (up 0.6%) leading the gains. However, the markets in China (down 0.4%) and Indonesia (down 0.4 %) are trading in the red. The Indian share markets have opened the day on a positive note. The sectoral indices are mainly trading in the green with consumer durables and capital goods indices leading the gains.

The Sensex today is up by around 61 points (0.2%), while the NSE-Nifty is up by about 12 points (0.1%). Mid and small cap stocks are trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.7% and 0.5% respectively. The rupee is currently trading at Rs 61.48 to the US dollar.

Steel stocks have opened the day on a mixed note with Bhushan Steel and Tata Steel leading the gains. However, Steel Authority of India Ltd (SAIL) and Maharashtra Seamless are trading in the red. Tata Steel has announced its financial results for the quarter ended September 2014 (2QFY15). During the quarter, the company's standalone net sales grew by 9% year-on-year (YoY) to Rs 107,009.8 million. Operating profit increased by 5.3% YoY to Rs 30,941.3 million. Operating margin contracted from 29.6% in 2QFY14 to 28.7% in 2QFY15. There was an exceptional gain of Rs 11,468.6 m during the quarter. As a result, the bottomline increased by 58.9% YoY to Rs 24,764.1 million. On a consolidated basis, net sales declined by 2.4% YoY to Rs 355,032.5 million. However, higher other income and an exceptional gain led to a rise of 36.8% YoY in the consolidated net profit which stood at Rs 12,543.3 million.

Auto stocks have opened the day on a firm note with Ashok Leyland and TVS Motor Company leading the gains. Eicher Motors Ltd has announced its financial results for the quarter ended September 2014 (2QFY15). During the quarter, the company's consolidated net sales grew by 35.5% year-on-year (YoY) to Rs 22,512.50 million. Operating profit increased by 45.4% YoY to Rs 3,052.5 million. Operating margin expanded from 11.2% in 2QFY14 to 12.6% in 2QFY15. At the bottomline level, net profit increased by 53.6% YoY to Rs 1,650.3 million.

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 "Indian share markets open firm". 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.