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 Indices Open Weak
Fri, 22 Apr 09:30 am

Major Asian stock markets have opened the day on a negative note. The stock markets in Hong Kong and China are trading down by 1% and 0.9% respectively. Major indices in Europe and US ended their previous session in red. The rupee is trading at 66.29 per US$.

Indian stock markets have opened the day on a negative note. The BSE Sensex is trading lower by 28 points (down 0.1%) and NSE Nifty is trading lower by 17 points (down 0.2%). Both, BSE MidCap and BSE SmallCap are trading marginally lower by 0.1% and 0.05% respectively. Major sectoral indices have opened the day on a mixed note with stocks from telecommunication witnessing the maximum brunt. However, stocks in oil & gas sector are trading in green.

IndusInd Bank reported its results for the quarter ended March 2016. The bank posted a higher than the industry growth rate in terms of loan growth, which grew by 29%. Reportedly, growth came in equally from both corporate and consumer loan books that grew close to 29%.

Slippages on account of bad loans increased by around 8% on a sequential basis to Rs 2.7 billion. Reportedly, gross bad loans at 0.87% of advances at the end of March quarter are marginally up from 0.82% at the end of December quarter.

Net Interest income (NII) grew by 37% to Rs 12.6 billion in the March quarter. Strong treasury and trading gains led to a sharp surge in other income, which grew by 31%. The net profits of the company grew by 25% to Rs 6.2 billion. The stock is trading up by 0.2%.

In another news update, the government is planning to sell a 10% stake in <>National Mineral Development Corporation through an offer for sale.

The company mines 30 million tonnes of iron ore a year and is expanding its activities to the production of steel and other value added products like pellets. The government has invited bids from merchant bankers by 16 May.

In the fiscal year FY 16, the government had mobilised about Rs 182.7 billion through the divestment route. This is far short of the revised target of Rs 410 billion for the preceding fiscal. The stock of NMDC is trading down by 2.5%.

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 Indices 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.