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 remain firm
Mon, 20 May 11:30 am

Indian share markets have remained firm during the previous two hours of trade. auto and realty are leading the pack of winners while consumer durables and healthcare are facing the maximum selling pressures.

The BSE-Sensex is up by 136 points and NSE-Nifty is up by 35 points. BSE Mid Cap index is trading up by 0.6% while BSE Small Cap index is trading up by 0.7%. The rupee is trading at 55.01 to the US dollar.

PSU banks shares are all trading in green with Canara Bank and United Bank of India leading the gains. According to a leading financial news medium, State Bank of India (SBI), the country's largest public sector lender is aiming to attain a 25% growth in deposits in the current fiscal compared to 14.9% in 2012-13. Further the bank is also aiming to attain a 25-30% growth in housing loans at Rs 300-350 bn in the current fiscal. During 2012-13, SBI's 'advances portfolio' grew at 21%. The average loan growth seen in the whole banking system was at 14% during the same period. SBI reported a 4.1% YoY rise in its net profit at Rs 33.96 bn for third quarter ended December 31, 2012. Total income from operation of the bank increased by 14.1% YoY at Rs 339.92 bn for the quarter ended December 31, 2012. SBI is stated to report its annual results for the financial year ended March 2013 on the 23rd of May. SBI's share is trading up by 1.6%.

Mining shares are predominantly trading in green with the exceptions of Hindustan Zinc and Gujarat NRE Coke, which are languishing in red. According to a leading financial daily, State-owned power generating companies are approaching the competition watchdog, Competition Commission of India (CCI)to complain against Coal India's (CIL) alleged abuse of monopoly power, which they say leads to unfair sales pacts, arbitrary price increases, poor quality of supplies and non-adherence to penalty clauses in supply agreements. After Maharashtra took up the issue with CCI, states like Gujarat and Madhya Pradesh have also filed petition against CIL's arm-twisting. According to the complaint filed by Maharashtra's power-generating company Mahagenco, CIL abuses its dominant position consistently to supply inferior-quality coal. Mahagenco has also alleged that the coal-supply agreement does not protect the purchaser from poor quality coal. Following the complaint by Mahagenco, the case was scheduled to come up for hearing before CCI in May. However, CIL has asked for another month's time to prepare its answers. CIL's share is trading up by 1.9%.

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 remain firm". 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.