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

Mid caps buck the trend
Wed, 29 Aug 11:30 am

Indian equity markets continued to trade in the red during the last two hours of trade. Sectoral indices represented a mixed performance with IT and auto stocks leading the losses while healthcare and banking stocks managed some gains.

The BSE-Sensex is trading lower by 38 points and NSE-Nifty is trading lower by 15 points. However, BSE Mid Cap is currently up by 0.1%. BSE Small Cap is trading flat. The rupee is trading at 55.62 to the US dollar.

Steel stocks are trading weak led by Steel Authority of India Limited (SAIL) and JSW Steel. According to a leading financial daily, Tata Steel has raised its stake in Tata Sponge Iron to 51%. The steel company bought 11.26% stake through a voluntary open offer thereby increasing the stake from 39.74% to 51%. Total public shareholding in Tata Sponge iron is now 45.5% as compared to the previous 56.7%. We may recollect here that Tata Sponge Iron was set up as a joint venture between Tata Steel and the Industrial Promotion and Investment Corporation of Orissa Limited (IPICOL). However, in 1991, Tata Steel made it an associate company by buying out IPICOL's stake. In July this year, Tata Steel had launched a voluntary open offer at Rs 375 per share. The Tata company however has no plans to merge Tata Sponge with itself.

Pharma stocks are trading strong led by Glenmark Pharma and Ipca Labs. According to a leading financial daily, Wockhardt has received approval from US health regulator to sell generic ropinirole hydrochloride, which is used in the treatment of Parkinson's disease. The company has received US FDA approval for extended-release tablets in multiple strengths of 2mg, 4mg, 6mg, 8mg and 12mg containing ropinirole hydrochloride. Ropinirole's extended release tablet is the generic name for the brand Requip XL, marketed in the US by Glaxo SmithKline. Wockhardt will manufacture the extended release tablets of ropinirole at its facility in Aurangabad. The technology for the tablets was developed in-house. This is the sixth US FDA approval for Wockhardt in the past two weeks. Three of these have been for extended-release products.

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 "Mid caps buck the trend". 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.