11:30 am Boardroom:
Ramdev-led Patanjali is helping create more demand and is contributing to the growth of the market, says NH Bhansali, Chief Executive Officer, Emami Group. It is giving healthy competition to the industry and is a huge positive for the ayurvedic sector.
Bhansali expects 16-17 percent revenue growth in the current fiscal. He is also confident that Emami will be able to sustain its operating margins at the current levels of 30 percent.
The company is on the look-out for acquisitions. They are primarily looking for acquisitions in personal care and health care sectors.
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The market is marginally in green with the Sensex up 27.90 points or 0.1 percent at 27943.80. The Nifty is up 22.55 points or 0.3 percent at 8637.80. About 1536 shares have advanced, 657 shares declined, and 190 shares are unchanged.
Coal India, Tata Motors, Dr Reddy’s, Axis Bank and Tata Steel are top gainers while ICICI Bank, Bharti Airtel, Ciipla, GAIL and ITC are losers in the Sensex.
Gems and jewellery stocks are shinning spurted by festive buying on Dhanteras. Dhanteras is an Indian festival when gold buying is considered auspicious. Stocks like Titan, Gitanjali Gems and PC Jewellers are gainers.