Asian stock markets have opened the day on a mixed note with stock markets in China (down 0.6%) Singapore (down 0.2%) leading the losses. However, the markets in South Korea (up 0.6%) and Taiwan (up 0.5%) are trading firm. The Indian share markets have opened the day on a flat note. The sectoral indices are trading mixed with realty and capital goods indices leading the losses. However, healthcare and oil and gas indices are trading firm.
Food sector stocks have mainly opened the day on a firm note with Sterling Biotech and VST Industries leading the gains. Britannia Industries Ltd has announced its financial results for the quarter ended June 2014 (1QFY15). During the quarter, consolidated net sales increased by 15.1% YoY to Rs 17,726.3 m. Operating profit grew by 23.2% YoY to Rs 1,696.0 m during the quarter. Operating profit margin expanded from 8.9% in 1QFY14 to 9.5% in 1QFY15. At the bottomline level, consolidated net profit increased by 27% YoY to Rs 1,136.6 m. Net profit margin expanded from 5.8% in 1QFY14 to 6.4% in 1QFY15.
Mining stocks have opened the day on a mixed note with National Mineral Development Corporation (NMDC) and Ashapura Minechem leading the gains. However, MOIL Ltd and Gujarat NRE Coke are trading in the red. State-run mining giant Coal India Ltd has announced its financial results for the quarter ended June 2014 (1QFY15). During the quarter, consolidated net sales increased by 8.1% YoY to Rs 177,995.4 m. Operating profit stood at 42,809.5 m, growing in line with the topline growth. Operating profit margin expanded marginally from 24.0% in 1QFY14 to 24.1% in 1QFY15. Consolidated net profit too grew by 8.1% YoY to Rs 40,332.8 m. Net profit margin remained constant at 22.7% during the quarter.