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

Oil & gas stocks sink markets
Fri, 10 Jun 11:30 am

Indian stock markets continue to trade in the red on sell off in heavy weights over the last two hours of trade. Stocks from oil & gas and FMCG space are trading weak while stocks from the IT and consumer durable space are trading firm.

The BSE-Sensex is trading down by 107 points while NSE-Nifty is trading 35 points below the dotted line. BSE Midcap index is down by 0.2% while the BSE Small cap index is down by 0.1%. The rupee is trading at 44.69 to the US dollar.

Auto stocks are trading weak led by Maruti Suzuki and Escorts. As per a leading financial daily, auto sales touched 20 month lows in May. Sales rose 10.6% YoY in May as compared to a year ago. Car sales in India grew 7% YoY in May. Number of cars sold equaled 158,817 as against 148,425 a year ago. Rising lending rates and fuel prices have resulted in this slowdown. In such a scenario, consumer have preferred to defer their purchases. Society of Indian Automobile Manufacturers (SIAM) has decided to wait for another month before coming out with forecasted sales numbers. It may be noted here that Mr. Pawan Goenka, President SIAM had earlier predicted 14-16% growth, revised from 16-18%. A major concern that has risen recently is based on RBI's new guidelines about non banking finance companies (NBFCs). Now, NBFCs cannot provide loans for purchase of non-transport vehicles which are personal vehicles.

Packaging stocks are trading firm led by Acclaim Industries and Uflex. As per a leading financial daily, Essel Propack, is planning to focus more on emerging markets like Mexico, Egypt, Indonesia and Africa as US and European markets are still struggling. As per the company's vice chairman & managing director Mr Ashok Goel, Essel Propack is planning to scale up its operations in emerging markets. The strategy of the company to achieve this would be through a combination of acquisition, capacity expansion and greenfield projects. While concerns on US and Europe continue, the company has indicated that this situation is not troubling the company. This is because emerging markets are picking up. On the other hand the company is not specifically looking to pick up stressed and troubled capacities which are up for distress sales in several European nations. It may be noted that Essel Propack derives about 80% of its business from overseas markets.

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 "Oil & gas stocks sink markets". 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.