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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian markets remain weak 
(Fri, 15 Feb 01:30 pm) 
 
Led by persistent selling across indices heavyweights, Indian stock markets remained below the dotted line during the post noon trading session. Most of the sectoral indices are trading in the negative territory with realty, oil and gas, and consumer durable stocks being among the biggest losers.

BSE-Sensex is down by 74 points and NSE-Nifty is trading down by 30 points. While BSE Mid Cap is trading down by 0.54%, BSE Small Cap index is trading down by 1.09%. The rupee is trading at 53.99 to the US dollar.

Most of the Pharma stocks are trading in red with Natco Pharma and Dishman being among the top losers. Wockhardt Ltd has declared its December 2013 results, the company has reported 26% YoY growth in sales driven by international and domestic business. US segment witnessed healthy growth of 45% YoY for the quarter. In the constant currency terms growth was 26% YoY for the said period. US geography continues to remain key business driver for the company. On the domestic front company grew by 15% YoY for 3QFY13. At the operating level, the company's EBITDA margins were at 38% YoY, a growth of ~63% YoY in total EBITDA for the quarter. PAT grew above ~100% for the 3QFY13, in spite of surge in tax by 62% for 3QFY13.

Majority of the FMCG stocks are trading in red with Marico and Jyothy Consumer among the major losers. According to Nielsen, the Indian oral care segment clocked a steep rise of 19.6% in 2012 which is the fastest growth rate in more than a decade. Sales received a big boost from increased demand for value-added oral care products in line with increased consumer awareness and rising income. A host of premium toothpastes have been launched in recent times that offer to whiten teeth, curb sensitivity and fight gingivitis. There have also been offerings in a plethora of specialized flavours such as active salt, cooling crystals, lemon, menthol and neem. Each of these value-added brands has gained market share at the expense of the basic fluoride or white toothpaste brand that saw its market share contract to 49% in 2012 from 51% in 2011. Rising demand and higher margins of these products have prompted companies to roll out new products regularly. Both Dabur and Hindustan Unilever have plans to launch Babool Salt. For market leader Colgate more than two-thirds of its 54% market share in toothpastes is contributed by the basic white toothpaste which is witnessing signs of slowdown. Even in the value-added space, GlaxoSmithkline Consumer Healthcare's Sensodyne has piped ahead of Colgate Sensitive whereas Colgate's fastest growing brand Active Salt is likely to face competition from Dabur in future.

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