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 stock market open firm
Tue, 14 Jun 09:30 am

Asian stock markets have opened the day on a mixed note. Stock markets in South Korea (up 1.5%), Indonesia (up 0.1%), Hong Kong (up 0.2%), China (up 0.1%) and Japan (up 0.1%) are trading in the green. The Indian stock markets have also opened the day on a firm note. Stocks in the capital goods and banking space are leading the gainers. However, stocks in the auto sector are trading marginally in the red.

The BSE-Sensex is trading up by 60 points (0.3%) and the NSE-Nifty is up by around 18 points (0.3%). Both midcap and small cap stocks are in favour, with the BSE Midcap and BSE Small cap indices marginally up by 0.4% and 0.3% respectively. The rupee is trading at 44.84 to the US dollar.

Telecom stocks have opened the day on a firm note with Reliance Communication and Idea Cellular trading in the green. Cellular service provider, Idea Cellular reported an increase of 3% in its net profit to Rs 2.7 bn for the quarter ended March 31 as compared to Rs 2.6 bn in same quarter of the previous year. This was even after the subscriber base for the company growing by more than 40% for the year. The minutes of usage (MoU) also jumped 49 per cent. The total subscriber base at the end of March 2011 stood at 89.5 m. At the end of FY11, Idea was the third largest wireless operator in India with a revenue market share of 13.6%.

Oil & gas stocks have opened the day on a firm note with ONGC and Oil India trading in the green. GAIL India is reportedly planning an overseas purchase which could comprise shale gas assets in the US and Australia. The state-run gas utility is set to make a non-binding bid for acquiring 20% interest in the shale gas assets owned by a US company. The deal is estimated to cost around US$400-500 m. The company's board has approved the bid. It has formed a committee of directors in charge of business development and finance to negotiate the deal with the seller. The acquisition is expected to give GAIL the competence to bid for shale gas assets in India in the future. The company is looking forward to spend about US$2 bn on acquisitions. Apart from Reliance Industries (RIL), GAIL is the only company that is acquiring equity in US shale gas assets.

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 stock market open 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.