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 stock markets open in the green
Thu, 23 Feb 09:30 am

Barring Japan (up 0.1%), nearly all the Asian stock markets have opened the day on a weak note. Stock markets in Korea (down 1.2%), Singapore (down 1%) and Hong Kong (down 1%) are leading the losses in the region. The Indian stock markets have however opened the day on a positive note. Stocks in the consumer durables and FMCG space are leading the pack of gainers.

The BSE-Sensex is up by around 19 points (0.1%), while the NSE-Nifty is up by around 4 points (0.1%). However, mid cap and small cap stocks are trading in the negative zone, with the BSE Mid cap and the BSE Small cap indices down by about 0.6% and 0.7% respectively. The rupee is trading at Rs 49.25 to the US dollar.

Pharma stocks have opened the day on a negative note with Biocon, Fortis and Wockhardt leading the losses. In a rare case, the US Food and Drug Administration (US FDA) has stated that it will import the generic version of cancer drug Lipidox from Sun Pharma. Usually a generic drug has to get a clearance from US FDA before it can be imported into the US. However, owing to a shortage of the drug in the country, the FDA has decided to cut short the process and import the drug directly. US has been facing a shortage of the anti cancer drug, Doxil, since June 2011. As a result the US FDA has been under pressure to find a generic alternative. However, it has stated that this is a temporary, limited agreement. Sun Pharma has not yet disclosed as to how long it will continue to supply the drug.

Auto stocks have opened the day on weak note with Ashok Leyland, Maruti Suzuki and Bajaj Auto leading the pack of losers. Hero MotoCorp has recently signed a technology sharing agreement with US based motorcycle manufacturer, Erik Buell Racing (EBR). Under this agreement, Hero MotoCorp will buy technology from EBR. However, there would be no profit sharing or ownership transfer in this deal. As per the company, EBR is already working on some of Hero's products. It is in the process of developing new bikes and scooters for the company, which are expected to be launched in the market by 2013. Hero MotoCorp earlier had a technology pact with Japan based Honda Motors which had come to an end last year.

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 stock markets open in the 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.