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Pharma stocks lead the rally
Mon, 14 Nov 11:30 am

Indian stock market indices are trading strong over the last two hours of trade on the back of sustained buying activity witnessed across index heavyweights. Pharma and IT stocks witnessed maximum buying interest, while metal stocks witnessed maximum selling pressure.

The BSE-Sensex is up by 126 points, while the NSE-Nifty is up 37 points. BSE Mid Cap and BSE Small Cap indices are down by 0.1% and 0.2% respectively. The rupee is trading at 50.16 to the US dollar.

Aluminium stocks are trading mixed. Hindalco is trading in the green while National Aluminium Company Limited (NALCO) is trading in the red. NALCO has announced its results for the quarter ended September 2011. The company has reported a 9.1% YoY growth in sales and a 37.8% YoY decline in net profits. The decline in net profits was because of increase in raw material costs which saw an increase of 31.6% YoY. Operating profits saw a decline of 56.1% YoY on account of high expenditure. Operating margins declined from 23.5% in 2QFY11 to 9.5% in 2QFY12. Net profit margins declined by 6.5% YoY. For the half year ended September 2011, sales and net profits grew by 21.1% YoY and 1.6% YoY.

Finance stocks are trading mixed with Reliance Capital and SREI Infrastructure Finance trading weak. However, Power Finance Corporation (PFC) is trading in the green with significant gains. PFC has announced its results for the quarter ended September 2011. The company has reported a 17.5% YoY and 31% YoY growth in sales and net profits respectively. Net interest income rose by 18% YoY during 2QFY12 on the back of 26% YoY growth in advances. Bottomline declined by 40% YoY in 1HFY12 due to exchange rate losses and lower other income. Net interest margin (NIM) decreased to 3.9% in 1HFY12 from 4.1% in 1HFY11. Net NPA to advances increased to 0.19% at the end of 2QFY12, compared to 0.01% earlier. Capital adequacy ratio (CAR) stood at 18.2% at the end of 1HFY12.

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