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

Persistent selling mars the indicies
Tue, 29 Apr Closing

The Indian equity markets had a rather volatile trading session today. The indices began the day's proceedings on a firm note but quickly pared all their gains and moved into the red on account of profit booking. There was no respite in the final trading hour either as the indices closed well below the dotted line. While the BSE-Sensex today closed lower by 165 points, the NSE-Nifty closed lower by 46 points. The BSE Mid Cap and BSE Small Cap too closed in red and were down by 0.44% and 0.02% each. Losses were largely seen in metal and banking stocks.

As regards global markets, majority of Asian stock markets closed in green, while European markets opened on a firm note. The rupee was trading at Rs 60.44 to the dollar at the time of writing.

Stocks of pharmaceutical companies ended the day on a firm note led by Wockhardt Ltd and Torrent Pharma. As per financial daily, Aurobindo Pharma has been sued by US based company Hospira Ltd and Japan based Kowa Ltd. These companies have dragged Aurobindo Pharma to court as the latter filed an ANDA with a PARA IV for a patented drug Precedex. The said drug is generically known as dexmedetomidine hydrochloride injection. The patent in issue was patent ''867 which is set to expire in Oct 2019. Currently the litigation is ongoing in the district court of Delaware in the US. And the launch of the product by Aurobindo will depend on the outcome of the litigation. Aurobindo closed weak today, down by about 2.7%.

NBFC stocks closed the day on a mixed note with SREI Infra Finance and Indiabulls Financial Services leading the gains. However, Sundaram Finance and Shriram Transport Finance Ltd closed the day in the red. Infrastructure financing major, IDFC has stated that its balance sheet shall remain more or less flat in FY15 as business environment continues to remain muted. Considering the slowdown in the infrastructure sector, it plans to go slow on lending so as to maintain its asset quality. It fears that excessive lending to power and road projects which are facing slowdown may deteriorate its asset quality and increase NPA risk. Apart from being conscious in lending, IDFC is also focusing on the recovery process. The restructured loan book of the company was Rs 26-27 bn at the end of FY14. However, it has renewed its focus over such loans in the last two quarters. Apart from this, IDFC also plans to start its banking operations by October 2015.

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 "Persistent selling mars the indicies". 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.