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

Auto stocks buck the trend
Thu, 19 Jul 11:30 am

Indian equity markets continued to trade in the positive during the last two hours of trade on buying in index heavyweights. Barring auto stocks, all sectoral indices were trading firm led by consumer durables and IT stocks.

The BSE-Sensex is up by 81 points and NSE-Nifty is up by 26 points. BSE Mid Cap and BSE Small Cap indices are trading higher by 0.5% and 0.6% respectively. The rupee is trading at 55.35 to the US dollar.

Indian pharma stocks are trading strong led by Panacea Biotech and Cadila Healthcare. As per a leading financial daily, one of the minority shareholders of Sun Pharmaceuticals, Guardian Point has asked for revision of offer price in Taro deal. We may note here that in 2007, Sun Pharma offered to buy out Taro Pharma for US$ 450 m but could only manage to obtain management control last year after a legal battle with Taro's former promoters. Since then, Sun Pharma has constantly been under pressure from Taro minority shareholders to revise the price upwards of US$ 24.5. Looking at the improved performance form Taro, the minority shareholders have been demanding a higher price. In April this year, two other minority holders Raging Capital and Grand Slam Asset management too demanded that Taro reject Sun Pharma's offer price.

Auto stocks are trading in the red led by Maruti Suzuki and Bharat Forge. According to a leading financial daily, Maruti Suzuki has stopped production at one of its factories in Manesar after workers attacked managers at the plant and set fire to company property. At least 40 managers and executives were sent to hospital with injuries. The labour unrest followed the suspension of a worker by the company. Union leaders have accused Maruti of taking action against workers without any reason. To resolve the issue amicably, members of the senior management met the union. During the talks, the workers attacked the members of the senior management, executives and managers. Any sustained shutdown of the Manesar factory would be a blow for the carmaker, which lost over USD $500 m worth of production last year due to weeks of labour unrest at the same plant.

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 "Auto stocks buck the trend". 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.