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 equity markets shed gains
Thu, 16 May 01:30 pm

Backed by consistent selling activity Indian equity markets have slipped down during the post noon trading session. The sectoral indicies are trading mixed with realty, oil and gas stocks being the biggest gainers, while the stocks from FMCG and IT sectors are top losers.

BSE-Sensex is up by 20 points and NSE-Nifty is trading up by 18 points. While BSE Mid Cap is trading up by 0.61%, BSE Small Cap index is trading up by 0.11%. The rupee is trading at 54.86 to the US dollar.

Domestic pharma stocks are trading mixed, with Elder Pharma and Wockhardt Ltd being among the leading gainers while Orchid Chemicals and JB chemicals are leading losers. Glenmark pharma has announced that the company has received USFDA (United states food and drug administration) approval for Zolmitriptan tablets of 2.5 mg and 5 mg strengths. Glenmark will commence the distribution of this drug immediately. This approval is z generic version of AstraZeneca's brand Zomig and Zomig ZMT. The annual sales of both the drugs have been pegged at US$ 176 m as on December 2012. Other than Glenmark, Apotex and Mylan are the other two companies that hold approval for the generics of Zomig. The launch seems to be a low competition launch. However as the patents of the drug expire, more generics can enter any time. Glenmark is trading up by 2.46%.

Majority of the mining stocks are trading in the green with Metals and Minerals Trading Corporation of India Ltd. (MMTC) and Hindustan Zinc being the biggest gainers. As per a leading financial daily, Coal India Ltd (CIL) has put its plans of importing coal on the back-burner. CIL in June 2012 had planned to import 18-20 m tonnes of coal to meet the requirements of the power generation sector. As per agreement, CIL had contracted to supply fuel for at least 80% of the 60,000 MW power generation capacity to be added between April 2009 and March 2015. Due to domestic supply shortage, CIL had planned to meet 65% of the requirement through own production and the balance 15% through imports. However, a slower than expected demand coupled with a 7.4% rise in supplies in FY13 enabled CIL to fulfill its supply commitments without resorting to imports. Even in the current fiscal, the mining major does not have plans to import coal due to lack of consumer interest. Reportedly, CIL is likely to import coal through a State-owned trading agency that is expected to inflate the cost of the imported coal. CIL stock is trading marginally up.

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 equity markets shed gains". 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.