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 languish in red
Mon, 24 Jun 01:30 pm

Indian share markets continued to languish in the red in the post-noon trading session. All the sectoral indices are trading in the red with realty, consumer durables and capital goods stocks being the biggest losers.

BSE-Sensex is down 150 points and NSE-Nifty is trading 49 points down. BSE Mid Cap is trading down 2% whereas BSE Small Cap index is trading down by 1.6%. The rupee is trading at 59.6 to the US dollar.

Majority of the Indian pharma stocks are trading in the red with Ranbaxy and Panacea Biotech being the biggest losers. However, Fresnius Kabi and Glenmark Pharma are among the few stocks trading in the positive. As per a leading financial daily, Cadila Healthcare's FMCG subsidiary Zydus Wellness is on the look-out to acquire brands or buy an over-the-counter (OTC) products company. The company is scouting for brands in the nutraceutical, cosmaceutical and OTC segments. The subsidiary has chalked out Rs 5 bn from its cash reserves for the buyout. Zydus has three well known brands EverYuth, Sugar Free and Nutralite in its portfolio and will launch a fourth product, Just Pure, in a week's time. Cadila Healthcare's stock is trading marginally down.

Majority of the banking PSU stocks are trading in the red with Indian Bank and Bank of Baroda leading among the pack of losers. As per a leading financial daily, Delhi High court has asked Punjab National Bank (PNB), to deposit Rs 4.5 m in the illegal fund transfer case. Reportedly, the court asked the bank to deposit the damage amount with the Register General of the High court till the final disposal of its appeal. Further, the order passed by the court came on an appeal filed by PNB against the adjudicating officer's order. This was on the complaint filed by Poona auto ancillaries under the Information and Technology act. The complaint was about the fraudulent fund transfer from its current account at PNB Pune branch in Aug 2011. As per the complaint, the amounts were transferred in 40 transactions of Rs 0.2 m and one transaction of Rs 10,000. PNB was trading down by 2.7%.

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 languish in red". 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.