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Indian Equity markets trade in green
Thu, 18 Apr 11:30 am

Indian equity markets have traded in green in the previous two hours of trade. Maximum buying interest have been witnessed in the capital goods and oil and gas sectors while IT and metals have faced the maximum selling pressures.

The BSE-Sensex is up by 75 points and NSE-Nifty is up by 17 points. BSE Mid Cap index is trading up by 0.44% while BSE Small Cap index is trading up by 0.49%. The rupee is trading at 54.12 to the US dollar.

Private bank shares are trading on a mixed note with J&K Bank and Federal Bank leading the gains while ICICI Bank and Axis bank are facing the maximum selling pressures. Yes Bank has announced its results for the fourth quarter and financial year 2012-13 (FY13).The bank has reported a 37% YoY and 33% YoY growth in net interest income and net profits respectively in FY13. The net interest income grew on the back of 24% YoY growth in advances. Net interest margin has remained stable at 2.9% due to rise in proportion of CASA deposits. Other income has grown by 47% YoY in FY13 due to robust growth in fee income. Capital adequacy ratio (CAR) has remained comfortable at 18.3% (Tier 1- 9.5%) with gross NPA at 0.2% of advances. Net profit growth of 33% YoY in FY13 has been accomplished despite higher provisioning. The bank has declared a dividend of Rs 6 per share for FY13 (dividend yield 1.3%). Yes Bank's share is trading down by 0.8%.

Auto shares are trading on a mixed note with Maharashtra Scooters and Tube Investments leading the gains while Bajaj Auto and Hero Motocorp are facing the maximum selling pressures. According to a leading financial news medium, Bajaj Auto has hiked prices of its entire range of motorcycles by up to Rs 500 in an attempt to offset increasing logistics and other expenditures. Post price hike, the company's entry-level bike Platina is available at Rs 39,293 while the Discover series is priced at Rs 44,800-52,940 and the Pulsar range of motorcycles is offered between Rs 58,963 and Rs 70,321. Bajaj Auto is a US$2.3 billion company founded in 1926. It is the world's fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one at Pant Nagar in Uttaranchal.

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