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 firm
Tue, 13 Mar 09:30 am

Asian stock markets have opened the day on a firm note with stock markets in Taiwan (up 1.3%), South Korea (up 1.2%), Hong Kong (1.1%) and Japan (up 1%) leading the gains. The Indian stock markets have also opened on a firm note. Stocks in the metal and realty space are the major gainers.

The BSE-Sensex is up by around 193 points (1.1%), while the NSE-Nifty is up by around 59 points (1.1%). Mid cap and small cap stocks are trading in the positive zone as well, with the BSE Mid cap and the BSE Small cap indices up by about 0.9% and 0.7% respectively. The rupee is trading at Rs 49.92 to the US dollar.

PSU Bank stocks have opened the day on a firm note with Andhra Bank, Dena Bank and Punjab National Bank (PNB) leading the gains. As per a leading financial daily, public sector lender PNB is planning to undertake capital infusion of about Rs 23.6 bn. Of the total amount, about Rs 10.75 bn will come from Life Insurance Corporation of India (LIC). The balance Rs 12.85 bn will be funded by the government. This move will help the bank maintain its financial health and allow flexibility of its operations. The Chairman and Managing Director of the bank, Mr K R Kamath has denied any negative impact of the telecom scam to the bank. During the nine month period ended December 2011, PNB reported revenues and net profits of Rs 6191.2 bn and Rs 34.6 bn respectively.

Mining stocks have opened the day on a positive note with Coal India and Sesa Goa leading the gains. A London-based hedge fund called The Children's Investment Fund (TCI) has threatened to take legal action against individual directors of public sector mining company Coal India for failing in their fiduciary duties to safeguard the interests of minority shareholders. It must be noted that the activist hedge fund is the second largest shareholder in Coal India. TCI has reported abuse of minority shareholders and poor corporate governance as the main issues concerning Coal India. It will take the legal course "if no clear commitments are made public in the immediate future to provide parity of coal prices to import prices and rectifying the other breaches of fiduciary duties which we have outlined." TCI's reaction has come after Coal India recently withdrew its decision of hiking coal prices on instructions from the government. While the Union government holds about 90% stake in Coal India, TCI holds 1.1%.

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 firm". 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.