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
Wed, 24 Sep 09:30 am

Barring Japan (down 0.4%) and Singapore (down 0.1%), major Asian stock markets have opened the day on a firm note with the markets in China (up 0.8%) and Hong Kong (up 0.4%) leading the gains. The Indian share markets have also opened the day on a positive note. The sectoral indices are trading mixed with healthcare and FMCG indices leading the gains. However, the auto and metal indices are trading weak.

The Sensex today is up by around 56 points (0.2%), while the NSE-Nifty is up by about 15 points (0.2%). The mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.1% and 0.5% respectively. The rupee is currently trading at Rs 60.87 to the US dollar.

Auto stocks have opened the day on a mixed note with Tata Motors and Eicher Motor leading the losses. However, Escorts and Tube Investments are trading firm. As per a leading financial daily, auto maker Mahindra & Mahindra is making it foray in the 110cc scooter segment with Gutso. The company will sell the new scooter through its two-wheeler dealerships as well as through its select tractors and auto dealers. It is worth noting that Gusto is the first scooter to be fully made in-house. It has taken almost two years for development. The new vehicle will be launched on 29th September 2014. The rollout will happen in a phased manner. Phase 1 will see the launch in northern and western regions, which contribute almost 65% of the overall scooter sales.

Steel sector stocks have mainly opened the day on a weak note with Bhushan Steel and Jindal Steel leading the losses. As per a leading financial daily, public sector steel major Steel Authority of India Ltd (SAIL) is finalizing a plan to nearly double steelmaking capacity to 50 million tonnes per annum by 2025. This will entail an investment of Rs 1.5 trillion. For the planned capacity expansion, the company has secured a 30-year mining lease from union mines ministry for iron ore at Dhul Khera village, in Rajasthan's Bhilwara district. It must be noted that SAIL is in the final stages of its current expansion plan to raise hot metal capacity to 23 million tonnes per annum by investing Rs 700 billion. It has already spent Rs 554.44 billion till August 2014 on it.

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.