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

Sensex sheds early gains
Fri, 14 Oct 01:30 pm

The key indices in Indian stock markets shed most of the early gains over the last two hours of trade. IT and Energy stocks witnessed maximum buying interest while Realty and Metal stocks witnessed maximum selling pressure.

The BSE-Sensex is up 31 points, while the NSE-Nifty is up 10 points. BSE Mid Cap and BSE Small Cap indices are down 0.15% and 0.01% respectively. The rupee is trading at 49.09 to the US dollar.

Oil and Gas stocks are trading in the green. Essar Oil and Reliance Industries Ltd. are the biggest gainers while Gujarat State Petronet Ltd. and Indraprastha Gas are the biggest losers. As per a leading financial daily, Gas Authority of India Ltd. (GAIL) is planning to set up an RLNG (re-gasified liquefied natural gas) terminal with a capacity of 2.5 mtpa (million tonne per annum)or 10 mmscmd (million standard cubic metre per day) to counter the shortage of natural gas faced by industries in Andhra Pradesh. The venture will be in association with other companies. It will be spearheaded by AP Gas Infrastructure Corporation (APGIC). The project is expected to cost anywhere between Rs 5 bn and Rs 10 bn depending on the technology that would be adopted for the project. As per the Government officials, the coastal town of Kakinada is one of the options for locating the project. The stock was trading in the red.

Engineering stocks are trading mixed. Bharat Earth Movers Ltd. and Shanthi Gears are the biggest gainers while TRF Ltd. and Carborundum Universal Ltd. are the biggest losers. As per a leading financial daily, Bharat Heavy Electricals Ltd (BHEL) is planning to develop power projects in Uganda and Nigeria. The plan is a part of strategy to broaden India's economic engagement with African countries to secure access to oil and gas blocks. The company has separately entered into partnerships with private sector companies for developing the 700 megawatts (MW) Karuma hydropower project in Uganda. The project is worth US$ 1.5 billion. The Karuma project is being developed by Uganda's ministry of energy, with the concerned private firms being separately short-listed for placing bids for the contract.

BHEL plans to supply the electromechanical package for the project, which is valued at around Rs 15 bn. Besides, it plans to develop Nigeria's first coal power project for the state-owned Power Holding Co. of Nigeria. Bhel is preparing a feasibility report for the 1,000MW project, which will require an investment of around US$1.2 bn. The stock is trading in the red.

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 "Sensex sheds early gains". 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.