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

Banking boosts Indian equity markets
Tue, 9 Oct 09:30 am

Barring Japan (down 0.2%), the major Asian stock markets have opened the day on a firm note with stock markets in China (up 2.0%) and Hong Kong (up 1.1%) leading the pack of gainers. The Indian equity market indices have opened the day on a positive note as well. All sectoral indices opened in green led by banking and metal stocks.

The Sensex today is up by around 140 points (0.7%), while the NSE-Nifty is up by around 51 points (0.9%). Mid and small cap stocks are trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.7% and 0.6% respectively. The rupee is trading at Rs 52.27 to the US dollar.

Telecom stocks have opened the day on a mixed note with AGC Networks and Tata Teleservices leading the gains. However, Bharti Airtel and Idea Cellular opened in red. As per a leading financial daily, Empowered Group of Ministers (EGoM) has agreed to a proposal to charge mobile phone carriers a one-time fee for their existing second-generation (2G) airwave holdings. The fees will be based on a price to be determined by an upcoming auction. It will be charged on airways beyond 4.4 mega hertz at the auction-determined price for the remaining validity of the companies' licence periods .The move is likely to affect older carriers including Bharti Airtel and Vodafone's Indian unit. These companies were excluded from the Supreme Court order to revoke permits in 2008 sale and are not required to bid in the auction. In case the Cabinet goes ahead with the proposal, then Bharti Airtel may have to pay Rs 42 bn to Rs 43 bn and Ideal Cellular may have to shell out Rs 20bn to Rs 22 bn. As per telecom minister, the Cabinet has finalized recommendations on the onetime fee for telecom companies and will take a call on October 16, 2012.

Energy stocks have opened the day on a firm note with Essar Oil and Castrol leading the gains. As per a leading financial daily, Petronet LNG (PLNG) has allowed Gas Authority of India Ltd (GAIL) to annually use 2.5 million tonnes (MT) capacity at its Dahej expansion project for importing the fuel. It is important to note here that Petronet operates a 10-MT a year Liquefied Natural Gas (LNG) terminal at Dahej and plans to expand it by 5 MT per annum in 2015. As per the sources, other companies including Gujarat State Petroleum Corporation (GSPC) are also in talks to use the remaining 2.5 MT capacity that PLNG plans to add. Petronet may also join GAIL to operate LNG assets that the latter is considering buying from Spanish firm Repsol.

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 "Banking boosts Indian equity 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.