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

Volatility plagues Indian indices
Wed, 5 Jun Closing

Indian equity markets had a rather volatile trading session today. The indices began the day's proceedings on a weak note and the morning saw them largely languishing in the red. Buying thereafter intensified to push the indices above the dotted line although trading remained largely rangebound. While the BSE-Sensex today closed higher by 22 points, the NSE-Nifty closed higher by 4 points. Both the BSE Mid Cap index and the BSE Small Cap index closed marginally into the positive. Gains were largely seen in oil and gas and metal stocks.

As regards global markets, Asian indices closed in the red today while European indices have also opened weak. The rupee was trading at Rs 56.42 to the dollar at the time of writing.

Engineering stocks closed mixed today. While Voltas and Larsen & Toubro (L&T) closed firm, Blue Star and Crompton Greaves were at the receiving end. As per a leading business daily, L&T has bagged a contract from the Saudi Arabian oil company Saudi Aramco for setting up gas processing facilities. This includes the Midyan gas facilities with a capacity to treat 75 million standard cubic feet per day of gas and 4,500 barrels per day of condensate as well as laying of gas and condensate product pipelines. The project is scheduled to be completed in 37 months. It must be noted that for FY13, L&T's order inflow stood at Rs 880 bn, a growth of 25% YoY. The total order book at the end of the year stood at Rs 1,536 bn. 49% of the backlog belonged to the infrastructure sector while 28% belonged to the power sector.

As per a leading business daily, Tata Consultancy Services (TCS) and Cognizant Technology Solutions have bagged a deal from UK's Network Rail to provide a wide range of software and system integration services. Network Rail owns and operates Britain's railway infrastructure, which includes the tracks, signals, tunnels and railway stations. This is said to be a part of Network Rail's plan of investing in a customer-centric IT strategy over the next four years. Although the financial aspect of the deal has not been divulged, TCS' deal size is expected to be worth over GBP 350 m. It must be noted that TCS ended FY13 on a positive note with sales and net profits growing by 29% YoY and 31% YoY respectively. Under prevailing volatile conditions, the pricing situation remained stable throughout the year. As a result of this practically all the volume growth for the company got translated into revenue growth. The stock closed higher today.

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 "Volatility plagues Indian indices". 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.