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 flat
Wed, 23 Oct 09:30 am

Asian stock markets have opened the day on a mixed note with Indonesia (up 1%), Malaysia (up 0.6%) and Singapore (up 0.4%) leading the gains. However, markets in China (down 1.2%), South Korea (down 0.6%) and Taiwan (down 0.3%) are trading weak. The Indian equity market indices have opened the day on a flat note. Stocks in the power and metal space are leading the gains. However, information technology stocks are trading weak.

The Sensex today is marginally down by around 9 points (0.04%), while the NSE-Nifty is down by around 3 pointS (0.04%). However, mid and small cap stocks are trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.5% each. The rupee is currently trading at Rs 61.53 to the US dollar.

Information Technology stocks have opened the day on a weak note with Wipro Ltd, Infosys Ltd and Tech Mahindra leading the losses. India's third largest IT services exporter Wipro Ltd has announced its consolidated financial results for the second quarter of the financial year 2013-14 (2QFY14). During the quarter, consolidated net sales stood at Rs 109,907 m, higher by 12.9% on a quarter-on-quarter (QoQ) basis. Operating profits stood at Rs 25,038 m, reporting a rise of 23.9% YoY. The company's operating margins improved by 200 basis points (2%) from 20.8% in 1QFY14 to 22.8% in 2QFY14. At the bottomline level, consolidated net profits increased by 19% QoQ. Net profit margins improved from 16.7% in 1QFY14 to 17.6% in 2QFY14. Wipro's growth during the quarter was aided by higher spending by its biggest clients. The company's employee strength declined marginally and stood at 147,216 at the end of September 2013.

Indian Pharma stocks have opened the day on a firm note with Biocon Ltd, Wockhardt Ltd and Orchid Chemicals leading the gains. As per a leading financial daily, Wockhardt's manufacturing plant in Kadaiya, Daman, has come under the scrutiny of UK Medicines and Healthcare Products Regulatory Agency. Britain's drug regulator has revoked the Good Manufacturing Practice (CMP) certificate for this factory. Instead the regulator will issue a restricted quality compliance certificate. This means that Wockhardt will be able to supply only "critical" products from this factory in Kadaiya. It is worth noting that this is the company's third facility to face the wrath of drug regulators and bear export restrictions within a span of a few months. Earlier this month, the UK drug regulator revoked the generic drugmaker's GMP certificate for its Chikalthana factory.

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 flat". 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.