Asian stock markets have opened the day on a mixed note with stock markets in Japan (up 0.6%) and China (up 0.5%) leading the gains. However, markets in Taiwan (down 0.8%) and Malaysia (down 0.4%) are trading weak. The Indian share markets have also opened the day on a negative note. The sectoral indices have opened on a mixed note with technology and capital goods stocks leading the losses. However, realty and healthcare stocks are trading firm.
ACC reported net sales of Rs 30,090 m, higher by 7.8% YoY. Operating profit decreased by 7.7% YoY to Rs 4,000 m. At the bottomline level, net profit declined by 7% YoY to Rs 2,410 m. Net profit margin contracted from 9.3% in 2QCY13 to 8% in 2QCY14.
Ambuja Cements reported net sales of Rs 27,064 m, higher by 15.5% YoY. Operating profit increased by 17.1% YoY to Rs 5,741 m. At the bottomline level, net profit increased by 26.1% YoY to Rs 4,087 m. Net profit margin expanded from 13.8% in 2QCY13 to 15.1% in 2QCY14.
Auto stocks have opened the day on a mixed note with TVS Motor Company and Tata Motors leading the losses. However, Tube Investments and Mahindra & Mahindra (M&M) are trading firm. Two-wheeler maker TVS Motor Company has announced its financial results for the first quarter of financial year 2014-15 (1QFY15). During the quarter, the company's net sales increased by 30.1% YoY to Rs 22,632.1 m. Operating profit increased by 23.1% YoY to Rs 1,217.6 m. Other income shot up from Rs 81.3 m in 1QFY14 to 182.7 m in 1QFY15. At the bottomline level, net profit increased by 39.4% YoY to Rs 723.2 m. Net profit margin expanded from 3% in 1QFY14 to 3.2% in 1QFY15.