Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

Stock markets slump further
Wed, 16 May 01:30 pm

After a weak opening, the Indian stock markets continued to slip deeper in the red in the last two trading hours. All the sectoral indices, barring Oil and gas are trading negative with auto, metal and consumer durables stocks clocking the biggest losses.

The BSE-Sensex is trading down 319 points and NSE-Nifty is trading down 94 points. Both BSE Mid cap index and BSE Small cap index are trading down 1.4% and 1.5%, respectively. The rupee is trading at 54.3 to the US dollar.

Majority of the FMCG stocks are trading in red with Pidilite Industries and Hindustan Unilever being the biggest losers and Godrej Consumer being the biggest gainer. As per a leading financial daily, lower intake by Canteen Stores Department (CSD) reduced sale volumes of FMCG companies by 5-7%. The CSD is run by the government under the Indian Ministry of Defence and operates through depots and sub-depots at all military bases. The CSD sell a variety of products such as household provisions, kitchen appliances, alcoholic drinks, cars and sports equipment at concessional rates through bulk procurement. GlaxoSmithkline Consumer Healthcare witnessed a 2.5% drop in sale volumes due to non-receipt of CSD orders in February and March. Marico derives 7% of its overall sales comprising mainly of Saffola from CSD. Nestle, as part of channel re-alignment, had curtailed supplies to CSD in CY11 itself. Reportedly, re-negotiation of trade terms and de-stocking were the reasons for order stoppage by CSD and is a one-time effect.

Essel Propack has announced its results for quarter ending March 31, 2012.The company has reported a 17.4% year on year (YoY) growth in the net sales. The operating profits margin for the quarter stood at around 17.3% as compared to 18.0% in the corresponding period last year. The growth in the bottomline came at 182% YoY during the quarter. For full year, the topline and net profits were up by 19% and 10.9% YoY respectively. The operating margins for FY12 slipped down to 19.2% from 22.2% last year. The company has recently received BIFR's (Board for Industrial and Financial Reconstruction) approval for Modified Draft Rehabilitation Scheme including the Scheme of Merger of Ras Propack Lamipack Ltd and Ras Extrusion Ltd with the Company.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Stock markets slump further". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.