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 stock markets open in the green
Tue, 18 Nov 09:30 am

The major Asian stock markets have opened the day on a mixed note with markets in Japan (up 1.7%) and Korea (up 1.1%) leading the gains. However, the stock markets in Hong Kong (down 0.7%) and China (down 0.4%) have opened in the red. The Indian stock markets have opened the day on a positive note. Barring software and realty, all sectoral indices have opened in the green with stocks in metal and capital goods segment leading the gains.

The Sensex today is up by around 33 points (0.1%), while the NSE-Nifty is up by about 3 points. The mid cap and small cap stocks have opened in the green as well with BSE Mid Cap index and BSE Small Cap index up by around 0.4% and 0.7% respectively. The rupee is currently trading at Rs 61.84 to the US dollar.

Power stocks have opened the day mainly in the green with Torrent Power Ltd and PTC India Ltd leading the gains. However, JSW Energy Ltd and NHPC Ltd were facing selling pressure. As per a leading financial daily, state run firms such as National Thermal Power Corporation Ltd (NTPC) , Damodar Valley Corporation Ltd and other state government utilities will be allocated their captive coal blocks that had been cancelled by the Supreme Court. However, the companies will have to pay a price for the blocks and will not be spared of the additional levy of Rs 295 per tonne as fixed by the Supreme Court. It implies that only half of the mines will be left for auction to the private sector in the first phase in December. The move could offer relief to the state governments after the coal ordinance stripped them of their powers in the coal block allocation process.

Steel stocks have opened the day on a mixed note with Adhunik Metaliks Ltd and Bhushan Steel Ltd leading the gains. However, Tata Sponge Ltd and Tayo Rolls Ltd were facing selling pressure. As per a leading financial daily, Steel Authority of India Ltd (SAIL) has sought Odisha government's support for its raw material requirements in the coming days with an aim to expand the capacity of its Rourkela Steel Plant (RSP). The company plans to invest Rs 300 bn to Rs 350 bn for expansion of the plant's capacity from 4.5 mtpa to 10 mtpa by 2025-26. Earlier, the company had expanded its 2 mtpa steel plant at Rourkela to 4.5 mtpa by investing Rs 120 bn. While SAIL already has two major iron ore reserve clusters at Balani and Barsuan, it is now seeking more such raw material linkage for the proposed expansion.

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 stock markets open in the green". 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.