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 open firm
Fri, 27 Jul 09:30 am

Most major Asian stock markets have opened the day on a strong note with stock markets in South Korea (up 2.1%), Taiwan (up 1.9%) and Hong Kong (up 1.9%) leading the gains in the region. The Indian equity market indices have also opened the day on a firm note. Stocks in the banking, metal and capital goods space are leading the pack of gainers.

The Sensex today is up by around 231 points (1.4%), while the NSE-Nifty is up by around 76 points (1.5%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices down by around 1% and 0.9% respectively. The rupee is trading at Rs 55.51 to the US dollar.

PSU bank stocks have opened the day on a firm note with Indian Overseas Bank, Dena Bank and UCO Bank leading the pack of gainers. As per a leading financial daily, India's largest lender State Bank of India (SBI) has raised US$ 1.25 bn through the issuance of a five-year US dollar bond. The bank has managed to raise the funds at a coupon rate of 4.125%. It is noteworthy that this is the first public sector bank US dollar bond issuance out of India since May 2011. SBI has managed to raise funds at the lowest ever coupon an Indian issuer has ever achieved in the US dollar bond market in the 5-year tenor. Also, this is the largest offering by a local bank after the 2008 Lehman Brothers collapse. This issuance is likely to open up the international bond markets for other high quality Indian banks. Following SBI's issue, Indian Overseas Bank has announced plans to raise US$ 500 m through a bond offering.

Indian pharma stocks have opened the day on a firm note with Dishman Pharma and Orchid Chemicals leading the gains. After obtaining exemption from the market regulator Securities and Exchange Board of India (SEBI), the promoters of pharma firm Dr Reddy's Laboratories have transferred a large shareholding to APS Trust, an entity controlled by the promoter family. The promoters' group currently owns 25.61% of the company's total equity shares. Of this, 23.08% is held by Dr Reddy's Holdings Ltd (DRHL), a promoter held company. Within DRHL, 83.17% is held by individuals of the promoter group. It is this 83.17% holding that has been transferred to the Trust. Following the share transfer, the APS Trust now holds 21.28 of the company's equity. It must be noted that since this is an inter se transfer among the promoters, their overall shareholding in the company remains the same.

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 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.