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Indian share markets remain weak
Thu, 25 Jul 11:30 am

Indian share markets have remained weak in the last two hours of trade. Oil and gas and auto are leading the pack of winners while power and FMCG are facing the maximum selling pressures.

The BSE-Sensex is down by 53 points and NSE-Nifty is down by 22 points. BSE Mid Cap and BSE Small Cap indices are down by 0.5% and 0.4% respectively. The rupee is trading at 58.88 to the US dollar.

Private Banks shares are trading on a mixed note with South Indian Bank and Axis Bank leading the gains while J&K Bank and City Union Bank are facing the maximum selling pressures. Yes Bank has announced its results for the first quarter of FY14 (1QFY14). Net interest income has grown by 40% YoY on the back of 29% YoY growth in advances. Other Income has grown by 54% YoY due to robust growth in fee income. Net interest margin has improved to 3% from 2.8% in 1QFY13, due to rise in proportion of CASA deposits. Bottom-line has grown by 38% YoY in 1QFY14 despite higher provisioning. Capital adequacy ratio (CAR) has remained comfortable at 15.4% (Tier 1- 9.5%) with gross NPA at 0.2% of advances at the end of June 2013. Yes Bank's share is trading down by 1.1%

Consumer Products shares are trading on a mixed note with Lakshmi Energy and Jyothy Consumer leading the gains while Hindustan Unilever and Bata India leading the losses. Dabur India has reported its results for 1QFY14. The Company has reported 10.1% rise in its net profit at Rs 1308.9 m for the quarter as compared to Rs 1189.2 m for the same quarter in the previous year. Total income of the Company has increased by 11.1% at Rs 11561 m for quarter under review as compared to Rs 10408 m for the quarter ended June 30, 2012.

On a consolidated basis, the group has registered a rise of 24.5% in its net profit after taxes, minority interest and share of profit / (loss) of associates at Rs 1860 m for the quarter as compared to Rs 1494 m for the same quarter in the previous year. Total income of the company, on consolidated basis, has increased by 13.1% at Rs 16931 m for quarter under review as compared to Rs 14976 m for the quarter ended June 30, 2012. Dabur's share is trading up by 0.1%

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