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 markets open in the green
Fri, 22 Jul 09:30 am

Asian stock markets have opened the day on an upbeat note. Stock markets in Hong Kong (up 1.7%), Singapore (up 0.9%) and Japan (up 0.8%) are the biggest gainers. However, markets in Malaysia (down 0.1%) are witnessing selling pressure. The Indian stock markets have opened the day on a positive note as well. Almost all the sectoral indices have opened in the green. Stocks in the energy and auto space are leading the gains.

The BSE-Sensex is up by around 111 points (0.6%), while the NSE-Nifty is up by around 35 points (0.6%). Midcap and small cap stocks are trading in the positive zone as well, with the BSE Midcap and the BSE Small cap indices up by about 0.8% and 0.5% respectively. The rupee is trading at 44.38 to the US dollar.

Energy stocks have opened the day on a positive note with Reliance Industries, GAIL and ONGC leading the gains. India is on the cross-roads with the Middle East oil rich kingdom, Saudi Arabia. The issue relates to the anti-dumping duty imposed by India on polypropylene products. The product, which is essentially a derivative of crude oil, has been brought under the net of anti-dumping duty. The sector is currently dominated by Reliance Industries, which holds a 70% market share. The duty is supported by the Indian industry which argues that even with the anti-dumping component; India's basic import duty is lower than other countries. The levy is supported by other Indian petrochemicals majors like Haldia Petrochemicals as well. However, Saudi Arabia has criticized the duty and is actively lobbying to get rid of it.

Pharma stocks have opened the day in the green with Cipla and Glenmark Pharma leading the gains. However, the stock of Biocon is trading in the red. Biocon has announced its first quarter results for financial year 2012 (1QFY2012). Biocon's consolidated sales grew by 11% YoY during the quarter. During the same period, he net profits grew by 7% YoY. The profit increase is without considering the profits from the European subsidiary, Axicorp as it has been divested. The operations were partially affected by the unrest in the middle-east and lower licensing income during the quarter. However, the management said that the licensing income for the year will be as per expectations. Inherent variability in licensing income is linked to development and regulatory timelines and therefore it is better to be viewed on an annualized basis.

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 markets open in the green". 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.