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Indian Markets Open Flat
Wed, 2 Dec 09:30 am

Major Asian stock markets have opened the day on a mixed note, with stock markets in Singapore (up 0.8%) and China (up 0.4%) being the top gainers. Major stock indices in Europe ended their previous session in red. However, benchmark indices in US ended higher by 0.9%. The rupee is trading at 66.51 per US dollar.

Indian stock markets have opened the day on a flattish note. BSE-Sensex is trading higher by 20 points (up 0.08%) and NSE-Nifty is trading higher by 3 points (up 0.04%). Both S&P BSE Midcap and S&P BSE Smallcap have moved upwards and are trading higher by 0.2% and 0.3% respectively. Major sectoral indices have opened the day on a mixed note. Stocks from metal and pharmaceutical sector are the top gainers in the pack. However, stock in telecommunication and automobile sector are witnessing selling pressures.

As reported in a leading financial daily, auto makers have reported better growth in terms of sales figures in the month of November. However, pace of the growth slowed down as compared to the month of October.

Maruti Suzuki India Ltd reported a growth of 10.6% YoY in sales volumes of its passenger vehicles in the month of November. However, sales volumes of its models such as Wagon R and Alto reported a decline of 4% for the month.

Further, market leader in Utility Vehicle (UV), Mahindra & Mahindra reported a growth of 36% YoY in the sales of its passenger vehicles in the month of November. The launch of the new model named 'TUV 300' coupled with low interest rates on car loans helped the company to achieve such robust numbers.

Siemens Ltd has recently reported its results for the quarter ended September 2015. The total income of the company reported a growth of 3.4% YoY to Rs 32.9 bn. However, net profit of the company reported a fall of 49.8% YoY to Rs 2.19 bn.

Further, company stated that the numbers are not comparable with those of previous year. The reason behind the same is the transfer of its metals technology business in November 2014. The metals technologies unit was making losses due to a general economic slump in the steel industry.

The Chief Executive Officer (CEO) of the company also mentioned that the company expects better demand from government and private sector going forward.

Siemens Ltd, is quite well known MNC name. However since some time, the company is facing several challenges. The company went through huge cost runs and thus had been writing off since some time. This along with restructuring of various units had hit their performances. Despite, negative growth and falling margins the valuations of Siemens Ltd have remained overstretched historically. In one of our 'The 5 Minute WrapUp Premium', we have discussed about the MNC companies valuations at the current juncture. Read on this article (subscription required) to know whether the current valuations for these MNC's are justified?

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Sep 26, 2017 02:26 PM

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