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 slip into red
Thu, 23 Feb 11:30 am

Indian stock market indices traded weak over the last two hours of trade. Oil and Gas and FMCG stocks witnessed maximum buying interest, while Realty and Metal stocks witnessed maximum selling pressure.

The BSE-Sensex is down by 23 points, while the NSE-Nifty is down by 4 points. BSE Mid cap index and the BSE Small cap index are down by 1.05% and 1.17% respectively. The rupee is trading at 49.25 to the US dollar.

Telecom stocks are trading in the red led by Bharti Airtel and Tata Teleservices. According to a leading financial daily, South Africa based Econet Wireless is seeking US$ 3.1 bn in damages from Bharti Airtel in a dispute over ownership of its subsidiary Airtel Nigeria. Econet's claim is that its 5% stake was unfairly cancelled when Zain took control, so any decision made since then without it, including the transfer to Bharti, is void. The Nigerian court upheld the claim. Bharti Airtel inherited the legal case as part of a US$ 9 bn acquisition of Zain's Africa operations in 2010, including 65% of Zain Nigeria. Econet had earlier disputed the buyout of Airtel's stake from Zain Nigeria in 2010 because its right of first refusal over the stake was denied.

Energy stocks are trading in the green led by Bharat Petroleum Corporation Limited (BPCL) and Reliance Industries. According to a leading financial daily, Hindustan Petroleum Company Limited (HPCL) is looking to increase its borrowing limit by Rs 100 bn to Rs 420 bn due to non-revision in prices of controlled petroleum products such as diesel and continued surge in crude oil price. Since there is a delay in the compensation of under recoveries by the government, the company is seeking shareholder's approval to increase borrowing limit from net worth plus Rs 200 bn to net worth plus Rs 300 bn. The company's net worth is Rs 120 bn. Even prices of petrol, a decontrolled product, have not been increased. Oil companies have an under recovery of Rs 12.31 on every litre of diesel, Rs 28.77 on kerosene and Rs 378 on cooking gas cylinder. Companies are also losing around Rs 3.2 on every litre of petrol.

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 slip into red". 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.