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?  

Investment in securities market are subject to market risks. Read all the related documents carefully before investing

End of Year Sale!
Grab Our Small Cap Recommendation
Service at a 60% Discount




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

IT stocks lead the downfall
Tue, 8 May 11:30 am

Indian stock market indices continue to trade weak over the last two hours of trade on back of heavy selling activity witnessed across industry heavyweights. IT and Capital Goods stocks witnessed maximum selling pressure, while FMCG and Realty stocks witnessed maximum buying interest.

The BSE-Sensex is down by 85 points, while the NSE-Nifty is down by 21 points. BSE Mid Cap index and the BSE Small Cap index are up by 0.27% and 0.33%. The rupee is trading at 52.75 to the US dollar.

Automobiles stocks are trading in the red led by Eicher Motors and Tata Motors. According to a leading financial daily, Ashok Leyland is planning to invest USD $17 m in its foreign subsidiaries Avia, Optare and AL Bonair. Out of the USD $17 m, the company will invest USD $10 m in its Czech Republic subsidiary Avia, which has joined hands with entrepreneurs to launch its models in the UK market and is planning to set up an assembling facility. It was in 2006 that Ashok Leyland had announced the acquisition of the truck business unit of Prague-based Avia. During the acquisition, Ashok Leyland said Avia was part of its inorganic growth plan and would enable it to enter the European Union and the Eastern European markets.

Shipping stocks are trading in the green led by Dredging Corporation and Mercator Limited. GE Shipping announced its March quarter results last week. The company has reported 38.5% YoY growth in standalone topline while the bottomline has turned positive as against a loss last year. The growth was driven mostly by freight and charter hire division as the company earned very little from sale of ships. As per the company, freight rates, especially for crude tankers remained firm throughout the quarter. But a steady growth in fleet capped any significant spurt in freight rates. Operating margins contract by 14.7% on the back of higher outgo towards hiring of chartered ships and rigs. Full year profits fell 46% YoY on the back of 24% growth in topline. Consolidated profits fell 35% YoY despite a 21% growth in topline.

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 "IT stocks lead the downfall". 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.