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

Markets continue their decline
Mon, 23 Jul 01:30 pm

The Indian equity markets continued to fall further into the negative territory during the post noon trading session. Stocks from across the board are trading weak led by those from the metal, capital goods and realty space. Healthcare and IT stocks are amongst the top performers at the moment.

The Sensex today is trading lower by about 230 points (down 1.3%) and NSE-Nifty is trading down by about 73 points (1.4%). Both, the BSE Mid Cap and BSE Small Cap indices are trading weak by about 1.2% and 0.8% respectively. The rupee is trading at 55.8 to the US dollar.

Most of the automobile stocks are trading in red with Maruti Suzuki and Maharashtra Scooters being the biggest losers. As per a leading financial daily, two-wheeler manufacturer Bajaj Auto is upbeat on the export demand and is aiming 50% of its sales to come from exports over the next three years. Currently, the company derives 35% of its motor cycle sales from exports. The company has plans to expand presence in Latin America particularly countries like Argentina and Chile. Presently, Bajaj Auto exports to 35 countries with the African continent being its largest export destination accounting for 41% of its overseas shipments. This is followed by Asia and West Asia forming 40% of the export market. Bajaj Auto stock is down 1.7%.

Engineering stocks are currently trading weak led by Crompton Greaves, Punj Lloyd, Jyoti Structures and Voltas. As per an article mentioned in the Hindu Business Line, Oil & Natural Gas Corporation (ONGC) has blamed power equipment major Bharat Heavy Engineering Ltd (BHEL) for delaying commissioning of the former's 727 MW gas-based power project at Palatana in Tripura. It is reported that the public sector oil and gas major had offered the contract to BHEL in June 2008. This project was scheduled to be commissioned last year. However as it turns out, the same has not started commercial operations till now. While ONGC's management does not doubt the quality of the BHEL's products, it made a statement that BHEL is not a very efficient company in the area of project commissioning. As per BHEL, delays were mainly due to reasons such as non availability of skilled manpower and change in design criteria on technical datasheets - aspects which are out of its control. However it did admit that there were some logistics problems leading to gap of 18 months for receiving the last consignment. Also the fact that the site was in a remote location did not help matters.

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 "Markets continue their decline". 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.