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India leads gainers in Asia
Tue, 7 May Closing

Auto, telecom and banking stocks helped the key indices in Indian equity markets lead the pack of gainers in Asia today. After a positive start, buying interest in select heavyweights helped the indices retain their momentum through the rest of the session. While the BSE Sensex closed higher by 215 points, the NSE-Nifty closed higher by 73 points. The BSE Mid Cap and BSE Small Cap indices too gained 1% each.

As regards global markets, most Asian equity markets closed higher today while European indices have also opened in the green. The rupee was trading at Rs 54.05 to the dollar at the time of writing.

Shriram Transport Finance (STFC) declared its results for the fourth quarter and financial year 2012-13 (FY13). The institution grew its consolidated income from operations and profits by 23% and 8% YoY respectively in FY13. The growth in income from operations was on the back of a healthy growth in assets under management (25% YoY). 80% of the AUM was towards pre owned vehicles. Net interest margins remained stable YoY at 7.5%. Other income increased by 46% in FY13, for 4QFY13 it increased by 90%. While cost to income ratio also remained stable at 20%, gross NPAs increased to 3.2% from 3% earlier, while the net NPA ratio increased to 0.8% in FY13 from 0.4% in FY12.

Meanwhile, power generation major National Thermal Power Corporation (NTPC) witnessed investor interest today. The company declared that it aims to start production at its six coal blocks by 2017 and to secure an additional 40 million tonne of captive coal. The six coal blocks are Pakri Barwadih, Chatti-Bariatu, Kerandari, and Chatti-Bariatu (South) in Jharkhand; Tallaipali in Andhra and Dulanga in Odisha. NTPC's generation capacity at the end of December 2012 stood at 33,872 MW. The volume of electricity generated stood at 170.8 bn units during 9mFY13 as compared to 161 bn units during the corresponding period last year. Total generation in FY12 stood at 222 bn units.

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