Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

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

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

BSE Sensex Trades Flat, Larsen Up by 3.2% Post Results
Wed, 23 Nov 01:30 pm

After opening the day on a flattish note, the Indian share market continues to trade in a similar fashion.

BSE Sensex is trading higher by 63 points (up by 0.2%) and NSE Nifty is trading marginally higher by 16 points (up 0.2%). However, the BSE Mid Cap and BSE Small Cap index have surged and are trading higher by 0.5% and 0.8% respectively.

Sectoral indices are trading on a positive note with stocks from metal sector witnessing maximum buying interest.

Gold prices, per 10 grams, are trading at Rs 29,170 levels. Silver price, per kilogram is trading at Rs 40,784 levels. Crude oil is trading at Rs 3,285 per barrel. The rupee is trading at 68.23 to the US$.

Larsen and Toubro declared its results for the quarter ended September 2016. Net revenues of the company grew 8.5% YoY during the quarter. The revenues grew on the back of a strong performance of its hydrocarbon, heavy engineering and service segments.

Order inflows grew 11% YoY, led by contracts from outside India largely in the infrastructure and hydrocarbon space. The company's consolidated order book now stands at Rs 2500 billion, about 2.5 times its revenues for the year ended 31 March 2016.

The company's net profit grew 41% YoY excluding an exception item of Rs 4 billion on account of divestment of its insurance business. Including this exceptional item, the profits grew 84.3% YoY to Rs 143 billion. The growth in the net profit was mainly due to strong cost controls coupled with robust other income.

Other income grew at a pace of 49.6% YoY on the back of robust profits from treasury operations. The company's efforts to refinance borrowings at lower rates helped trim the financial charges. The employee costs too were tightly managed. The firm has cut about 14,000 jobs across business in the past six months due to factors such as automation, redundancy and changes in technology.

The company has reiterated its guidance for a revenue growth in a range of 12-15% for the fiscal year 2017. Going forward, performance of its infrastructure segment which contributes to almost half of its revenues will be one of the key things to watch out for. Share price of L&T is up by 3.2%.

In another news update, in a move to clampdown black money, India and Switzerland signed a declaration allowing automatic exchange of financial information between the two countries prospectively.

The agreement signed will end the era of year's long Swiss Bank secrecy. However, the point to be noted is that the information would be shared prospectively and not in retrospection.

Nevertheless, this move along with the stringent Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, is expected to act as an effective deterrent for tax evaders who stash their money in foreign countries.

Reportedly, as per the agreement signed India will automatically receive all financial information about its residents, including bank accounts and balances, dividends and interest income and sales proceeds used to calculate capital gains tax, from September 2019.

Earlier this month, the government had demonetized the 500 and 1,000 rupee note in a move to curb black money. Vivek Kaul has come out with a special report on how demonetization can have an impact on your investments, properties and effectively your wealth. It's a mind boggling read and you can claim this copy for free.

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

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "BSE Sensex Trades Flat, Larsen Up by 3.2% Post Results". Click here!


Views on News

Why Rising Bond Yields Spooked the Market (Fast Profits Daily)

Mar 2, 2021

The stock market has been worried about rising bond yields recently and for good reason. In this video, I'll tell you why.

Bond Yields Are Surging. What Should Be Your Debt Funds Strategy (Outside View)

Mar 2, 2021

Bond Yields are surging. PersonalFN explains the outlook for Debt Markets and what should be your debt funds strategy in a rising interest rate scenario.

Such China Challenger Stocks are STILL Ignored and Undervalued (Profit Hunter)

Mar 2, 2021

Don't mistake defence stocks to be the only China challengers.

Beware the Ides of March (Fast Profits Daily)

Mar 1, 2021

The month of March is usually difficult for traders. This time it will be even more so. Find out why in this video.

UTI Nifty200 Momentum 30 Index Fund: Aims to Benefit from Momentum Investing Strategy (Outside View)

Mar 1, 2021

PersonalFN analyses the features of UTI Nifty200 Momentum 30 Index Fund and explains the potential this fund has to offer to its investors.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Mar 2, 2021 (Close)