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 stock markets open firm
Fri, 26 Jul 09:30 am

Barring Japan (down 2.1%) and Taiwan (down 0.1%), the major Asian stock markets have opened in the green with Singapore (up 0.2%) and Indonesia (up 0.2%) leading the gains. The Indian stock market indices have also opened the day on a firm note. Barring FMCG, all sectoral indices have opened in the green with stocks in the realty and consumer durable space leading the gains.

The Sensex today is up by around 64 points (0.3%), while the NSE-Nifty is up by around 36 points (0.6%). Mid and small cap stocks have also opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.4% and 0.2% respectively. The rupee is trading at Rs 58.85 to the US dollar.

Energy stocks have opened the day mainly in green with Bharat Petroleum Corporation Ltd (BPCL) and Mangalore Refineries and Petrochemicals Ltd (MRPL) leading the gains. GAIL (India) Ltd has announced the results for the fourth quarter of financial year 2013-14 (1QFY14). The company has reported a 16.0% YoY growth in the topline during the quarter. The operating profits for the quarter declined by 21.2% YoY with operating margins coming at 11.7%, as compared to 17.2% in the corresponding quarter last year. The decline was mainly on account of lower margins from the gas trading segment. The net income for the quarter registered 28.7% YoY decline, with margins at 6.3%, as compared to 10.2% in 1QFY13. The company has provided a discount of Rs 7 bn during the quarter (same as in 1QFY13) to share under recoveries on LPG (Liquefied Petroleum Gas).

Cement stocks have opened the day on a weak note with JK Lakshmi Cements and Madras Cements leading the losses. However, Ultratech Cement and Ambuja Cement have opened in the green. Cement major ACC Ltd has announced its results for the second quarter of the calendar year 2013 (2QCY13). During the quarter, the company's standalone net sales stood at Rs 27,952 m, marginally higher by 1.4% on a year-on-year (YoY) basis. Operating profits declined by 31.3% YoY to Rs 4,335 m and operating profit margins declined from 22.9% in 2QCY12 to 15.5% in 2QCY13. At the bottomline level, standalone net profits declined by 38% YoY to Rs 2,591 m. During the first half of the calendar year 2013 (1HCY13), while net sales increased by 1.9% YoY to Rs 57,063 m, net profits increased by 21.5% YoY to Rs 6,968 m. The company's board of directors has declared an interim dividend of Rs 11 per share (face value Rs 10) for CY13.

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 stock markets open firm". 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.