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

Realty & energy, major losers
Tue, 23 Sep 01:30 pm

Indian share markets slipped deeper in the red in the post-noon trading session. Sectoral indices are trading mixed with realty and Energy stocks being the biggest losers. IT and FMCG are among the major gainers on the bourses today.

BSE-Sensex is down 180 points and NSE-Nifty is trading 51 points down. BSE Mid Cap is trading 0.9% down and BSE Small Cap index is trading down by 1%. The rupee is trading at 60.91 to the US dollar.

Most of the engineering stocks are trading in the red with Suzlon Energy and Jyoty Structure being the biggest losers whereas Lakshmi Machine and Punj Lloyd are trading in the green. As per a leading financial daily Larsen & Toubro (L&T) has launched foreign currency convertible bonds (FCCBs) worth $200 m. The FCCBs have a face value of $2 lakh per bond and carry a coupon rate of 0.675% (payable semi-annually). The bonds will have a tenure of five years and one day and the initial conversion price has been fixed at Rs 1,916.5 per share. The company has applied for the FCCBs to be listed on the Singapore Exchange Securities Trading Ltd and also in-principal approval for the shares to be issued on conversion of FCCBs to be listed on the National Stock Exchange and BSE. L&T stock is currently trading down by 1.2%.

Almost all mining stocks are trading on a weak note. Losers are being led by Hindustan Zinc and Ashapura Minechem. As per a leading business daily, state-owned coal mining major Coal India (CIL) is looking out for location for its Rs 70 bn solar power project. It may be noted that solar power in general requires higher space per MW power generation as compared to other power projects like thermal power. In terms of money, on average it costs Rs 70 m per megawatt for setting up a solar power plant. The company has been off late scouting out for space for the same. As such, CIL has been in talks with the New and Renewable Energy Ministry for setting up a combined capacity of 1,000 MW. The solar project is part of new government's initiative to push economic growth. The government is expected to invest US$ 100 bn in the renewable energy sector over the next four years under a new policy framework. Coal India is trading lower by 1.1% today.

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 "Realty & energy, major losers". 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.