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

Markets move deep into the red
Thu, 12 May 01:30 pm

The benchmark indices in the Indian stock market have lost ground in the last two hours of trade and are currently trading in the red. Stocks from Metal, Banking and Software space are trading weak, while those from Realty space are trading firm.

The BSE-Sensex is down 100 points while NSE-Nifty is trading 34 points below the dotted line. Both BSE Midcap and BSE Small cap indices are down 0.2% each. The rupee is trading at 44.86 to the US dollar.

Engineering stocks are trading mixed with AIA Engineering, Shanthi Gears and Emco Ltd leading the pack of gainers. However, TRF Ltd and Welspun Corporation are trading weak. As per a leading financial daily, BHEL has signed a provisional deal of Rs 15 bn with the government of Iraq with a purpose to engage with oil and gas rich countries in West Asia that has more than 50% of world's proven reserves of crude oil. The deal will see BHEL supply 10 gas turbines of 126 MW each to Iraq. The order can increase to Rs 40 bn depending upon the scope of the work. The deal has come close to the heels of India's strategic decision to revive energy ties with Iran. The crude oil supply from Iraq will lead to further diversification our energy. India imports US$ 10 bn worth of oil from Iraq. It may be noted that BHEL is trading flat at the time of writing.

The Central Statistics Organization (CSO) has reported an increase of 7.3% YoY for India's industrial production (IIP) in March 2011. This compares to an upwardly revised 3.65% growth a month ago, thus soothing concerns of a slowdown in the economy. The actual growth numbers are above expectations and will allow the central bank to continue with rate hikes to control stubbornly high inflation. However, for FY11, the industrial output growth registered a growth of just 7.8% YoY versus a 10.5% YoY growth in FY10.

The manufacturing sector, which comprises 80% of the industrial production, was up 7.9% YoY for the month versus 16.4% YoY last year. The mining sector was marginally up by 0.2% YoY versus 12.3% YoY growth during the same month last year. The growth rate for capital goods sector also slowed down to 12.9% YoY from 36% YoY last year.

Meanwhile, the Committee of Secretaries (COS) has approved the release of the new series of index of industrial production (IIP) with 2004-05 as its base. The new index will start from the month of June 2011(which will be the quick estimate of IIP for the month of April 2011).

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 "Markets move deep into the red". 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.