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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian equity markets slip in red 
(Mon, 28 Oct 01:30 pm) 
 
The Indian markets have lost their morning gains and are trading in red during the post noon trading session. Majority of the sectoral indices are trading in red with FMCG and metal stocks being the leading losers. Stocks from Capital goods and Oil and gas sectors are among the leading gainers

BSE-Sensex is down by 3 points and NSE-Nifty is trading down by 6 points. While BSE Mid Cap is trading down by 0.25%, BSE Small Cap index is trading down by 0.11%. The rupee is trading at 61.53 to the US dollar.

Most of the Cement stocks are trading in red with, Birla Corp and Mangalam cement leading among the pack of gainers. Shree cement announced results for the quarter ending September 2013. Standalone net sales declined by 3.8% YoY on account of poor cement demand and poor realizations. The operating expenses increased resulting into decline in operating profits and thus the margins. The operating profits declined by 36.1% YoY, thus operating margins contracted from 30.1% in 1QFY13 to 20% in 1QFY14. At the bottomline level, net profits decline by 24.5% YoY during the quarter. Decline in tax expenses helped the bottom line to some extent. The tax expenses for the quarter declined by 88.9% YoY.

Majority of the FMCG stocks are trading in the green with Emami and Hindustan Unilever (HUL) being the biggest gainers. However, Colgate and Kokuyo Camlin are among the few stocks trading in the red. FMCG behemoth, Hindustan Unilever Ltd (HUL) declared its second quarter results for FY14. The company posted a 9.2% YoY growth in revenues during the quarter. The domestic consumer business grew by 10% YoY driven by an underlying volume growth of 5% YoY. Among product segments, each of the beverage & personal care product segments registered double-digit growth during the quarter. The largest product segment, soaps & detergents grew by tepid 6% YoY due to price reduction in soaps taken earlier. The company managed to improve operating margin slightly by 0.2% to 15.7% as input cost savings were partly neutralized by higher ad-spends (both as a proportion of sales). Excluding the impact of exceptional income, net profit grew by 9.3% during the quarter. The company has declared an interim dividend of Rs 5.5 per equity share of face value Re. 1 each for FY14, translating into a dividend yield of 1%.

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