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 soar higher
Fri, 29 Jun 01:30 pm

Led by persistent buying across heavy-weights, Indian share markets continued to escalate in the last two trading hours. All the sectoral indices are trading positive with capital goods, power and banking stocks being the biggest gainers.

The Sensex today is trading up 364 points and NSE-Nifty is trading up 106 points. BSE Mid Cap index and BSE Small Cap index are trading up by 1.3% and 1% respectively. The rupee is trading at 56.2 to the US dollar.

Majority of the banking stocks are trading in green with UCO Bank and Central bank leading the gainers. As per the Financial Stability Report of the Reserve Bank of India (RBI), the banking industry has been in the dock on account of rising incidence of restructuring of loans extended to the aviation and power sectors. As per the report, the two sectors account for 23% of the total restructured portfolio of banks. Of the total loans, the banks restructured 12% loans for the airlines industry and 11% loans for the power sector in the March 2012 quarter. RBI feels that policy paralysis and financing constraints is not likely to improve the situation in the near future.

Majority of the mining stocks are trading in green with National Mineral Development Corporation (NTPC) and Coal India being the biggest gainers. As per a leading financial daily, Hindustan Zinc has chalked out investments of Rs 20.2 bn to improve mining operations at its Rampur Agucha and Sindesar Khurd mines in Rajasthan. The company plans to fund the capital expenditure through internal accruals. The projects are expected to be completed by 2017. Reportedly, Rampur Agucha is the world's largest zinc producing mine with proven reserves of 110.4 m tonnes while currently 6.2 mtpa is being extracted from the mine. Hindustan Zinc plans to extract zinc below the mine's open pit operating level of 372 meters using vertical hoisting shaft reaching a depth of 950 m. In case of silver-rich Sindesar Khurd mine, the company wants to increase mining operations to double it silver production to 500 tonnes by FY14. The company has set up a silver refinery with a capacity of 518 tonnes per annum to process silver extracted from the mine.

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 soar higher". 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.