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

Indian equity markets come back in green
Thu, 14 Feb 11:30 am

Indian equity markets have made a comeback in green during the previous two hours of trade. The most noticeable upward movements have been witnessed in the metal and IT sectors while auto and consumer durables have faced the maximum selling pressure.

The BSE Sensex is up by 22 points and NSE-Nifty is up by 2 points. BSE Mid Cap index and BSE Small Cap index are trading lower by 0.67% and 0.90% respectively. The rupee is trading at 53.93 to the US dollar.

Energy stocks are trading on a mixed note with Gujrat State Petronet and Oil and Natural Gas Corporation (ONGC) leading the gains while Bharat Petroleum Corporation Limited (BPCL) and Jindal Drill are leading the losses. Indian Oil Company (IOC) has announced its results for the quarter ended December 2012. The company has reported a 12% YoY growth in net sales and a 33.9% YoY growth in net profit. The growth in net profit was thanks to compensation of Rs 134,750 m received from the government and Rs 81,420 m received from upstream companies to make good the under-recoveries on selling fuels below cost. However, for the nine-month period the company recorded a loss of Rs 95,080 m for the current financial year compared to a loss of Rs 87,160 m for the same period last year because of under-recoveries. The company has requested the Government to compensate for the unmet under-recovery of Rs 132,270 m for the last nine months period, so that IOC can post profits for full year FY13. IOC's share is trading up by 1%.

IT stocks are trading on a mixed note with HCL Infosystems and TCS leading the gains while CMC and Wipro are leading the losses. India's third largest software provider, Wipro's shares will be removed from NSE- Nifty index. Wipro will be replaced by state owned minerals company, NMDC. The change will come in to force from April1, 2013. Wipro's shares have thus faced selling pressures and are likely to continue to face selling pressures in the near term due to portfolio realignment of index-based funds. NSE has stated that the demerger of non IT businesses from IT businesses is the reason for Wipro's exclusion from the Nifty index. The demerger process has been approved by the shareholders of Wipro on 28th December, 2012 and is expected to be completed within the next 4-5 months.

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 "Indian equity markets come back in green". 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.