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Revealed
India's Third Giant Leap

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Indian markets trade higher
Tue, 19 May 01:30 pm

After opening the day on a flat note, the Indian Indices are trading above the dotted line in the post noon trading session. Most sectoral indices are trading in the green with stocks from the software and capital goods sectors leading the gainers. However energy stocks are trading weak.

The BSE-Sensex is trading up 126 points (up 0.46%) and the NSE-Nifty is trading up 38 points (up 0.45%). The BSE Mid Cap index is trading up 0.5% and the BSE Small Cap index is trading up 0.8%. Commodity prices, however, are trading in red. Gold prices, per 10 grams, have lost 0.7% or Rs 192 and are trading at Rs 27,428 levels. Silver price, per kilogram, lost about 1.75% or Rs 700 and is trading at Rs 39,783 levels. Crude oil is trading in red with loss of 1.1% or Rs 43 and is trading at Rs 3,814 per barrel. The rupee is trading at 63.58 to the US dollar.

As per a leading financial daily, Dr Reddy's Laboratories Ltd is aiming for double-digit profit growth this year as it is looking forward to launch more products. The company has also proposed to make new capital investments in the range of Rs 10 bn to Rs 12 bn in the current year partly on new technologies and mostly on capacity expansion to serve larger markets like India. For the year ending 31 March 2015, the company has reported 3% YoY (year-on-year) increase in net profit at Rs 22.18 bn. However, the company witnessed a rise in R&D expenditure by 29% in the fourth quarter comprising 11% of the revenues, most of which had gone into filing of the new ANDAs (abbreviated new drug applications) which is expected to enter the regulatory markets in 2018 or so.

Paint stocks today are trading mixed with Kansai Nerolac and Asian Paints being the top gainers. Asian Paints Ltd, India's largest paint company, has reported weak domestic volume growth in its March 2015 quarterly results. Notably, domestic volume growth has fallen from 10-12% between March 2014 and September 2014 to 3-4% in the past two quarters. Consolidated net sales of the company for the March quarter grew 6.9% YoY to Rs 34.9 bn. On the other hand, a sharp 720 basis point YoY fall in input costs to 49.8% of sales fuelled the margin expansion in the quarter while rise in other income by 36.4% YoY further aided bottom line. Currently the stock of Asian Paints is trading up by 0.6%.

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