Indian Stock Markets Open Flat

Thu, 28 Jan 09:30 am

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   11:30 am   

   01:30 pm   

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Barring China, major Asian stock markets have opened the day on a positive note with stock markets in Taiwan and Singapore trading higher by 0.6% and 0.3% respectively. Major indices in Europe ended their previous session on a positive note. The US benchmark indices closed lower by 1.4, after the Federal Reserve officials left interest rates unchanged. Further, the Fed policymakers stated that they expect to raise borrowing costs at a "gradual" pace while watching to see how the global economy and markets impact the US outlook. The rupee is trading at 67.98 per US$.

Indian stock markets too have opened the day on a flattish note. The BSE Sensex is trading higher by 4 points (up 0.02%) and NSE Nifty is trading lower by 3 points (down 0.05%). Both BSE Mid Cap and BSE Small Cap are trading marginally higher by 0.01% each. Sectoral indices have opened the day on a mixed note with stocks from information technology and pharmaceutical sectors witnessing maximum buying interest. However, stocks from telecommunication and metal sector are facing selling pressure.

<>HDFC reported its results for the quarter ended December 2015. The company's standalone net profits grew 6.6% YoY to Rs 15.2 billion. Reportedly, lower income from sale of investments coupled with a higher base in the same quarter of last year led to marginal growth in the net profits.

On the positive side, it is imperative to note that during this phase when major banks are facing several challenges, HDFC's loan book grew by 19% YoY. Reportedly, company is well capitalized to meet any growth spurt in the loan demand. Going forward too, growth in the demand for home loans will be the an important factor to watch out.

<>Godrej Consumer Products too reported its results for the quarter ended December 2015. The consolidated total income grew by 6% YoY to Rs 23.5 billion. The growth came on the back of double-digit volume growth in its household insecticides segment, which grew by 15% YoY. However, sales growth from the soap as well as hair colour segment remained subdued. Soap segment reported a muted growth of 2% YoY while hair colour segment declined by 1% YoY.

Going forward, pick up in rural consumption will boost the demand from the segments like soap and hair colour.

Inspite of this, the net profits of the company grew by 23% YoY. This was partially attributable to lower commodity costs.

Many Indian companies have benefitted from the fall of commodity prices like Crude Oil. Indian economy as a whole has benefitted from the oil plunge too. In fact, this topic was in also discussed in the recent Equitymaster Conference 2016.

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