X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Indian markets build on gains 
(Thu, 14 Nov 11:30 am) 
 
After opening on a positive note, the Indian Indices continued to trade strongly in the morning session. All sectoral indices are trading in the green. The buying interest is the highest in capital goods and banking stocks.

The BSE-Sensex is up 340 points while the NSE-Nifty is trading up 101 points. The BSE Mid Cap index is trading up 1.3% and the BSE Small Cap index is trading up 1.4%. The Rupee is trading at 63.02 to the US Dollar.

Most Information Technology (IT) stocks are trading positive today. Tech Mahindra and Wipro are among the stocks leading the gainers. India's leading software company Tech Mahindra has announced a technology partnership with Perpetual Investment Solutions. Perpetual is one of Australia's leading financial services groups. The partnership will look to enhance the registry capabilities of Perpetual to support its pension and wealth management products. It would cover administrative as well as technology services. This is a significant partnership for Tech Mahindra as the company's presence in the Asia-Pacific region is not as strong as its larger peers. The potential size and duration of the partnership was not disclosed by the company. Tech Mahindra is trading up 1.6% today.

Automobile stocks are trading positive today. TVS Motors and Tata Motors are leading the gainers. Mahindra and Mahindra (M&M) declared its 2QFY14 results. The results have beaten market expectations. The company's standalone sales decreased by 8.7% YoY to Rs 88.1 bn this quarter. There was a decline of 15.9% YoY and 3.9% YoY in volumes and realization respectively in automotive segment. Although there was about 19% YoY volume growth in tractors segment which restricted the sales decline to a certain extent. Operating profit increased by 2% YoY led by better operating performance of both automotive and tractor segment. Other income increased by 11.7% YoY and interest expense rose by 31.2% YoY. Increase in other income and decline in tax rate from 25.8% in 2QFY13 to 20.6% in 2QFY14 led to net profit growth of 9.7% YoY to Rs 9.9bn. M&M is trading up by 2.5% 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  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian markets build on gains". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE IT


Sep 22, 2017 11:44 AM

S&P BSE IT 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS