Indian equity markets continued to trade in the positive during the last two hours of trade on buying in index heavyweights. Sectoral indices were trading mixed with FMCG and metal stocks leading the gains while capital goods and realty stocks were the top losers.
FMCG Stocks are trading strong led by Hindustan Unilever and Tata Global Beverage. Dabur India Limited has announced its first quarter results for financial year 2012-2013 (1QFY13). The company has reported a 21% YoY and 17% YoY growth in sales and net profits respectively. Backed by strong growth in key categories like health supplements, shampoos and foods Dabur's consolidated sales for 1QFY13 increased by 21% YoY. However, operating margin dipped by 50 basis points during the quarter due to a steep rise in advertisement spends. Dabur's net margin contracted marginally. The benefit of 62% jump in other income was offset by an extra-ordinary loss of Rs 49 m on overseas subsidiary sale booked during the quarter. The international business also reported strong growth during the first quarter, growing at 24% respectively. The growth in overseas markets was driven by Gulf Cooperation Council, Nigeria and Egypt.
Auto stocks are trading mixed with Maharashtra Scooters and Force Motors leading the list of losers while Maruti Suzuki and TVS Motors were the top gainers. According to a leading financial daily, Bajaj Auto is going to launch a 100 bike to take on Hero MotoCorp. This will be the third bike by Bajaj in the 100 cc segment after Discover and Platina. The new bike will compete with Hero's Splendor and Passion. The codenamed D-104 bike is expected to be launched in October-November. Priced at around Rs 40,000, the bike is being positioned as a product with latest technology at an affordable price.