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, metal stocks weigh on markets
Wed, 24 Aug 01:30 pm

The Indian stock market lost further ground over the last two hours of trade due to selling pressure in the heavyweights. Stocks from the auto, metal and sofware space are trading in the red while those from the Consumer Durables and FMCG space are finding some investors' interests.

The BSE-Sensex is trading down by 153 points while NSE-Nifty is trading 45 points below yesterday's closing. However, the BSE Midcap and BSE Small cap indices are up by 0.1% and 0.2% respectively. The rupee is trading at 45.88 to the US dollar.

Fertilizers stocks have been trading mixed with Godawari Fertilisers and Chemicals, Tata Chemicals and Gujarat State Fertilizers Company (GSFC) leading the pack of gainers. However, Zuari Industries and Coromandel International are trading weak. As per a leading financial daily, Tata Chemicals, through its wholly owned subsidiary Gusiute Holdings has entered into an agreement with EPM Mining Ventures Inc. for a private placement of voting shares and purchase warrants. EPM Mining Ventures Inc. is an exploration-stage potash development company. According to the agreement, EPM Mining will issue eight million voting shares and eight million purchase warrants to Tata Chemicals at a price of US$ 16 m. After closing of the deal, Tata Chemicals will have 30.6% ownership in EPM Mining. The company has a capital expenditure plan of Rs 8 bn over the next three years. The stock of the company is trading firm.

Software stocks have been trading mixed as well with Oracle Financial Services Sofware, Mphasis Ltd and Mahindra Satyam leading the pack of gainers. However, HCL Technologies and Tata Consultancy Services (TCS) are trading weak. As per a leading financial daily, Industry lobby body, The National Association of Software and Services Companies (Nasscom) is confident of its earlier forecast of 16-18% growth rate for the software sector in the current fiscal. This is despite the recent crisis in the US and some of the European countries. As per some of the industry experts, it is too early to gauge the effects of the recent economic developments in the western part of the world. So far, they have not seen any negative feedbacks from the clients in terms of slash in the technology budget or cut in billing rates. They expect that things would be clear in late-October or mid-November when customers start finalizing their budgets.

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, metal stocks weigh on markets". 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.