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

India tops Asian gainers
Thu, 29 Sep Closing

Despite the Reserve Bank of India (RBI's) hints at retaining its tight monetary policy stance, the indices in Indian stock markets managed to move into the positive territory and consolidate gains. Backed by buying interest in banking, IT and auto heavyweights the indices featured amongst the top gainers in Asia in today's trade. While the BSE-Sensex closed higher by around 252 points (up 1.5%), the NSE-Nifty gained around 70 points (up 1.4%). The BSE Mid Cap and the BSE Small Cap indices, however, lost around 0.2% each.

As regards global markets, Asian indices closed mixed today while European indices have also opened on a cautious note. The rupee was trading at Rs 49.0 to the dollar at the time of writing.

In the first year of its launch, Ashok Leyland expects its joint venture (JV) with Japan's Nissan to sell 55,000 light commercial vehicles (LCV). The joint venture which was for LCVs, buses and vans has already commenced manufacturing LCVs. Recently, the company had successfully launched 'Dost' in Maharashtra market. The company was also planning to launch a passenger van on the platform of its light commercial vehicle Dost which will have a seating capacity of up to eight persons. Dost, a 1.25 ton carrier, is built at Ashok Leyland's manufacturing facility in Hosur, and will compete with the likes of Tata Ace and Mahindra Genio and Maxximo.

Ashok Leyland's 1QFY12 performance was a muted due to poor performance in domestic markets. While domestic volumes declined by 14% YoY to reach 16,738 vehicles, exports recorded a healthy 31% YoY growth in volumes to reach 2,539 vehicles during the quarter. The drop in domestic volume was primarily in the South, which has been the company's stronghold for long. The stock of Ashok Leyland closed 3% lower today.

Meanwhile, food inflation jumped to 9.13% for the week ended September 17 from 8.9% in the previous week, mainly due to a rise in prices of potatoes, pulses and poultry. India's central bank (RBI) has raised interest rates a dozen times in the past 18 months, but headline inflation remains at more than twice the bank's comfort level, confounding expectations that it was coming to the end of its tightening cycle.

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 "India tops Asian gainers". 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.