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

Smaller indices buck the trend
Mon, 31 Oct Closing

The benchmark indices in Indian stock markets had a weak outing today. The indices opened weak and stayed on the backfoot for most of the session. Towards mid-session the indices regained momentum, but could not sustain the same. Towards the end of the session, selling pressure intensified and the indices closed on a weak note. While the FMCG stocks were in favour, oil & gas and metal stocks ended weak. The BSE-Sensex closed lower by around 100 points (down 0.6%) and the NSE-Nifty lost around around 34 points (down 0.6%). The BSE Mid Cap and the BSE Small Cap indices, however, bucked the trend. They gained 0.4% and 0.2% respectively.

As regards global markets, other Asian markets also closed lower today while European indices have opened on a negative note. The rupee was trading at Rs 48.8 to the dollar at the time of writing.

Bank of Baroda (BOB) declared its results for the second quarter of financial year 2011-2012 (2QFY12). Its net interest income grew by 26% YoY in 2QFY12 (25% in 1HFY12), on the back of 24% YoY growth in advances. Despite the deteriorating economic environment and rising interest rates the bank was able to perform well. It retail credit rose by a relatively modest 10%, while credit to SMEs (small and medium enterprises) grew by over 28%. Agricultural credit grew by around 5%. The bank's net non performing assets (NPAs) moved up marginally from 0.38% in 1HFY11 to 0.47% in 1HFY12. Profit was up 14% YoY in 2QFY12 and 17% YoY in 1HFY12. Provisions on advances, investment depreciation and higher interest costs ate into profits. The bank's capital adequacy ratio stood at 12.7% at the end of 1HFY12. The stock closed 4.4% higher for the day.

Bharat Petroleum Corporation Limited (BPCL) announced the second quarter results for financial year 2011-2012 (2QFY12). Its topline registered a growth of 19.4% YoY during the quarter. It however reported a loss at the operating profit level leading to loss margins at 6.4% versus positive margins at 7.0% in the same quarter last year (2QFY11). BPCL also reported a loss at bottomline level, resulting in net loss margins at 7.6%, versus net profit margins at 6.0% in the same quarter last year (2QFY11). The throughput for the quarter came at 5.58 million metric tons (MMT) versus 5.6 MMT last year. Export sales volumes at 0.94 MMT registered an increase of 21% YoY during the quarter. The stock closed 2.6% lower for the day.

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 "Smaller indices buck the trend". 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.