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 share markets open flat
Fri, 17 May 09:30 am

Barring Singapore (down 0.1%), all Asian stock markets have opened the day on a positive note with Japan (up 0.3%), Indonesia (up 0.6%) and South Korea (up 0.8%) leading the gains. The Indian share markets indices have opened the day on a flat note. The sectoral indices have opened mixed with stocks in the software and realty sector leading the gains. However, stocks in the consumer durables and healthcare space are facing maximum selling pressure.

The Sensex today is down by around 2 points, while the NSE-Nifty is down by around 6 points (0.1%). However, mid and small cap stocks have opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.3% each. The rupee is trading at Rs 54.89 to the US dollar.

Energy stocks have opened the day on a mixed note with Jindal Drill Ltd and Chennai Petroleum Corporation Ltd (CPCL) leading the gains. However, Gas Authority of India Ltd (GAIL) and Reliance Industries Ltd (RIL) have opened in the red. As per a leading financial daily, Oil & Natural Gas Corporation (ONGC) has received the clearance for its term of references (ToR) from the experts appraisal committee of the ministry of environment and forests (MoEF). The approval is for the 2,200 MW gas based project in Maharashtra. The project will require an investment worth Rs 99 bn. This will be the second gas based project proposed by ONGC after its 726 MW Tripura which is up and running. ONGC has indicated the assured gas supply from C-24 field and B-12 fields in Tapti Daman Block of Western Offshore Basin for the upcoming plant.

Auto stocks have opened the day mainly in red with Maharashtra Scooters and Force Motors Ltd leading the losses. Bajaj Auto Ltd has announced its financial results for the fourth quarter of the financial year 2013 (4QFY13). The net sales for the quarter were up by 3% on a year on year (YoY) basis. The operating margins during the quarter slipped to 17.6% from 20 .7% in the corresponding quarter last year. The margins were down mainly due to mainly due to the adverse product-mix and increase in other expenditure. The company has reported a 0.77% YoY decline in the bottomline for the quarter. This was mainly on account of weak demand and adverse product mix. However, the overall decline was limited to some extent by a higher contribution of other income that grew by 74 % YoY. The management has suggested that it does not see any growth in volumes in the short term.

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 share markets open flat". 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.