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 weak
Thu, 1 Mar 09:30 am

Asian stock markets have opened the day on a mixed note. While stock markets in Japan (up 0.5%) and Malaysia (up 0.3%) are leading the gains, markets in Indonesia (down 0.5%) and Hong Kong (down 0.4%) are facing selling pressure. The Indian stock markets have opened the day on a weak note. Stocks in the realty and capital goods space are the major losers.

The BSE-Sensex is down by around 142 points (0.8%), while the NSE-Nifty is down by around 48 points (0.9%). Mid cap and small cap stocks are trading in the negative zone as well, with the BSE Mid cap and the BSE Small cap indices down by about 0.6% and 0.3% respectively. The rupee is trading at Rs 49.19 to the US dollar.

Auto stocks have opened the day on a weak note with Ashok Leyland and Mahindra & Mahindra Ltd. (M&M) leading the losses. As per a leading financial daily, Tata Motors (Telco) is set to revamp its small car Nano with a sportier, more powerful variant that will have an 800 cc engine. This will take Nano from the ultra-low cost territory to the entry level segment where it will compete with the likes of the Hyundai Eon and the Maruti Suzuki Alto. However, the current 624 cc engine will continue be the mainstay with a strong focus on semi-urban and rural markets. Currently, the different variants of Nano are priced between Rs 1.4 lakh and just under Rs 2 lakh. The new proposed variant will be aimed at more affluent customers who are drifting towards cars in the Rs 2.4 lakh and above price range. This variant is likely to take 10-12 months to develop.

Information technology stocks have opened the day on a negative note as well with Infosys and Wipro leading the pack of losers. With the appointment of JP Morgan and Morgan Stanley as the bankers for the merger process, IT firms Tech Mahindra and Mahindra Satyam have come a step closer to their merger. These bankers would provide the fairness opinion after the valuation exercise is completed. After the fairness opinion, the proposal will be submitted to the boards of the two firms for approval. Tech Mahindra had acquired the scam-hit Satyam Computer Services in 2009. It had re-branded it as Mahindra Satyam with the ultimate goal of merging the two companies. The merger is expected to be completed by the end of the 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 weak". 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.