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

Commodity stocks weigh on indices
Wed, 11 Apr Closing

Taking cues from their peers across Asia, the indices in Indian stock markets opened lower and languished in the red for a larger part of the trading session. This was despite some sporadic attempts to make inroads into the positive territory. Commodity stocks led by Jindal Steel, ACC and Ambuja Cements led the pack of losers. While the BSE-Sensex closed lower by around 44 points, the NSE-Nifty closed lower by around 17 points. The BSE Mid Cap and the BSE Small Cap, were not spared however as they closed marginally in the negative.

As regards global markets, Asian indices across the board closed lower today while most European indices have opened in the red. The rupee was trading at Rs 51.5 to the dollar at the time of writing.

The stock of Elecon Engineering has been in favour after winning some major orders during the month of March, 2012. The company has received some major orders worth Rs 226 m from various clients for supply of material handling equipments and spares for their various projects. Elecon Engineering is a market leader in the domestic gears segment with around 25% market share in the domestic transmission equipment segment. Being part of the Elecon group that largely focuses on the engineering sector adds to the operational strength to EECL in terms of sourcing some of the inputs like castings from the group company and outsourcing some portion of job-work to the group company.

Hindalco Industries' group unit - Aditya Aluminium - has lined up Rs 100 bn expansion plan to ramp up capacity of its aluminium smelter and captive power plant (CPP) proposed at Jharsuguda in western Orissa. The aluminium company intends to double smelter capacity from 0.36 m tonne per annum (mtpa) to 0.72 mtpa and scale up CPP capacity from 900 MW to 1650 MW.

Hindalco is currently undergoing major expansion programmes which will treble its aluminium refining and smelting capacity in the next 3 to 4 years. The huge capacity addition with raw material linkage will help the company reduce cost of production and increase volumes at the same time. Considering the demand for aluminium is expected to grow at 6% to 8% per annum in view of the low per capita consumption in India, the capacity additions undertaken by the company will enable them to meet the growing demand.

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 "Commodity stocks weigh on indices". 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.