Indian equity markets opened the trading session on a strong note following global cues. The markets lost momentum in the afternoon session, but regained the thrust in the final hour. While the BSE-Sensex closed higher by 150 points, the NSE-Nifty closed higher by 40 points. The BSE Mid Cap and BSE Small Cap indices ended on a flat note.
Asian markets ended the week on a high with Nikkei and Shanghai Composite leading the index. The rupee was trading strong by 12 paise at 63.52 against the dollar in the afternoon session on continued dollar selling.
Engineering stocks are trading mixed with Voltas and Punj Llyod witnessing maximum buying interest. Stock of Voltas, the global air conditioning and engineering services company, have moved a lifetime high on the BSE today after the company reported a better than expected 17.5% YoY (year on year) growth in consolidated net profit for the fourth quarter ended March 31, 2015. The net profit for the company in the concerned quarter stood at Rs 1.2 bn as against Rs 1 bn in the corresponding quarter last year. Operating profit margins expanded to 9.6% in March quarter as against 7.2% in the year ago quarter. However, net sales for the quarter grew marginally by 2.3% YoY and stood at 14.8 bn. The stock of Voltas is trading up by nearly 9%.
Britannia Industries reported a strong 55% YoY jump in its consolidated net profit at Rs 1.7 bn for the quarter ended March 2015. This led to a jump in share prices which surged 12% to Rs 2,555, recording it's all time high on the NSE during the morning trade. Consolidated operational revenue during the quarter grew 13.9% to Rs 20.6 bn as against Rs 18 bn in the year-ago quarter. The company also reported growth in operating margin by 2% despite no pick up in the market growth with the help of increased depth in distribution, tight management of fixed costs and increased cost efficiencies. On a separate filing, the Board of Directors of company has recommended a dividend of Rs 16 per share for the year 2014-15. At the time of writing, the stock of Britannia Industries was trading higher by 7%.