MEMBER'S LOGINX
| Invalid Username / Password | ||||||||
| Invalid Captcha | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
Investment in securities market are subject to market risks. Read all the related documents carefully before investing
Grab Our Small Cap Recommendation
Service at a 60% Discount
- Home
- Todays Market
- Indian Stock Market News August 7, 2013
Volatility mars Indian indices Wed, 7 Aug Closing
Indian equity markets had a rather volatile trading session today. For the larger part of the day, the indices languished deep into the red as persistent selling activity prevailed. While there was a brief foray into the positive in the later hours, profit booking once again pushed the indices below the dotted line. While the BSE-Sensex today closed lower by 68 points, the NSE-Nifty closed lower by 23 points. The BSE Mid Cap and the BSE Small Cap index were not spared either and lost 1% each. Losses were largely seen in auto, IT and FMCG stocks.
As regards global markets, most Asian indices closed in the red today while European indices have also opened weak. The rupee was trading at Rs 61.08 to the dollar at the time of writing.
Domestic pharma stocks closed mixed today. While Aurobindo Pharma, Ranbaxy and Glenmark were the key gainers, Lupin, Sun Pharma and Wockhardt were at the receiving end. Lupin announced results for the first quarter ended June 2013. The company's topline grew by a subdued 9% YoY during the quarter led by the export formulations and API businesses. The domestic business witnessed a 5% YoY drop in revenues due to the impact of the government's new drug pricing regulation. Operating margins improved by 3% to 22.1% in 1QFY14, resulting in the 26.2% YoY growth in operating profits. This was helped by lower growth in its operating expenses. Bottomline surged by 43% YoY helped by decline in interest costs and depreciation charges. However, tax expenses increased by 80% YoY for the quarter.
Tube Investments also announced results for the first quarter ended June 2013. Tube's revenues fell by 10% YoY during the quarter on the back of subdued conditions in the auto and industrial sectors. In terms of business segments, the bicycle division's revenues fell by 8% YoY largely due to the 7% YoY drop in volumes. The engineering division recorded a decline of 7% YoY in revenues. As far as the metal formed products division is concerned, revenues declined by 16% YoY. This was largely due to the drop in doorframes volumes and railway wagons. Tube's operating profits fell by 21% YoY during the quarter, as operating margins shrunk by 1.2% YoY to 8.7%. This was on the back of higher staff costs and other expenditure (as a percentage of sales). Poor performance at the operating level coupled with higher interest costs led to the 58% YoY plunge in net profits. The stock closed higher by 4% today.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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
- Multibagger Penny Stocks
- Basics of Value Investing
- Benjamin Graham
- How to Invest in Gold
- How to Invest in Silver
- Best Stocks to Buy Today
- Best Small-cap Stocks to Buy
- Best Bluechip Stocks to Buy
- Guide to Penny Stocks
- How to Invest in the Share Market
- Warren Buffett - The Value Investor
- Pick the Best Multibagger Stocks
TRENDING TOPICS
Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
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.
Equitymaster requests your view! Post a comment on "Volatility mars Indian indices". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!