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 markets zoom ahead
Thu, 24 May 01:30 pm

After languishing above the dotted line, the Indian equity markets picked momentum in the last two trading hours. All the sectoral indices, barring pharma are trading positive with oil and gas and banking stocks clocking the biggest gains.

The Sensex today is trading up 198 points and NSE-Nifty is trading up 60 points. Both BSE Mid cap index and BSE Small cap index are trading up 0.5% and 0.6%, respectively. The rupee is trading at 56.1 to the US dollar.

Majority of the energy stocks are trading positive with Oil and Natural Gas Corporation (ONGC) and Petronet LNG being the biggest gainers and Chennai Petroleum and Cairn India being the biggest losers. As per a leading financial daily, Reliance Industries (RIL) and its partners British Petroleum (BP) and Canada-based Niko Resources have relinquished rights to the D4 oil and gas block. The D4 block lies north of the D6 block in the Krishna-Godavari (KG) basin. While RIL is the operator of the block with the largest stake of 55%, BP and Niko hold shares of 35% and 10%, respectively. Niko feels that the oil and gas potential at D4 block is much lower than their estimates and the commercial viability still remains unattractive. This development re-iterates the falling potential of RIL's production and exploration blocks. The company sold off 30% stake in 21 oil & gas blocks to BP last year. Further, RIL has revised down the proven gas reserves of its gas blocks by 7% to 3.7 trillion cubic feet due to low pressure and uneconomic volumes. The stock is up 1.1%.

Bharat Heavy Electricals (BHEL) announced its results for the quarter and year ended March 2012 yesterday. During the quarter, the company's revenues grew by about 8% YoY. Operating profits increased by a fast pace of 21% YoY as the company was able to contain costs and improve margins to 25.6% as against 22.8% during 4QFY11. BHEL's profits increased at a similar pace of 21% YoY as lower interests costs balanced out the rise in depreciation charges. A lower tax outgo also helped the company prop up its profits during the quarter.

As for the full year FY12, the company revenues and profits increased by 14% YoY and 17% YoY. Similar to the performance during the quarter, the company was able to clock marginally higher operating margins. A higher other income also boosted earnings for the company during the year. The order book at the end of the quarter stood at Rs 1.35 tn which is nearly 2.8 times its full year FY12 revenues.

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 markets zoom ahead". 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.