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 share markets open in the green
Tue, 18 Mar 09:30 am

Barring Indonesia (down 1.0%), the major Asian stock markets have opened the day on a positive note with the stock markets in Hong Kong (up 0.5%) and Japan (up 1.3%) leading the gains. The Indian share markets have opened the day on a firm note as well. All sectoral indices have opened in the green with the stocks in the banking and metal sector leading the gains.

The Sensex today is up by around 136 points (0.6%), while the NSE-Nifty is up by about 40 points (0.6%). The mid and small cap stocks have also opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.6% each. The rupee is currently trading at Rs 60.98 to the US dollar.

PSU Banking stocks have opened on a positive note with United bank of India and Corporation Bank leading the gains. As per a leading financial daily, the country's largest lender State Bank of India (SBI) will be offloading around Rs 50 bn of its Rs 678 bn bad assets to asset reconstruction companies (ARCs) before the end of the month. Such a step has never been taken by the bank in its history of over two centuries. It is to be noted that SBI had reported 5.73% of its assets as bad loans in the December quarter. The move comes ahead of the stricter provisioning norms that will kick in from next April, that the central bank had announced in May last year when the provisioning for restructured loans was doubled to 5% from 2%. Generally, ARCs pay 5-10% of the total bad loans being bought in cash and the rest could be security receipts (SRs).

Mining stocks have opened the day on a positive note with Sesa Sterlite Ltd and Coal India Ltd leading the gains. As per a leading financial daily, Coal India Ltd (CIL), the country's largest mining company is likely to miss its production target for the current fiscal year (FY14) by about 12 million tonnes (MT). The company is struggling to achieve at least 470 MT of output against a fixed target of 482 MT for financial year 2013-14. The management has suggested that it may achieve an output of only 470 MT for FY14 as a number of factors including delays in securing clearances to projects, infrastructure problems, strike, cyclone Phailin and problems in evacuation etc have resulted in lower output. The management has stated that given the circumstances, CIL can increase annual growth to only 30 MT for the next few years.

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 share 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.