MEMBER'S LOGINX
| Invalid Username / Password | ||||||||
| Invalid Captcha | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
- Home
- Todays Market
- Indian Stock Market News November 19, 2019
Indian Indices Continue Momentum; Sensex Trades 186 Points Higher Tue, 19 Nov 12:30 pm
Share markets in India are presently trading on a strong note.
Sectoral indices are trading on a mixed note with stocks in the telecom sector and energy sector witnessing buying interest.
The BSE Sensex is trading up by 186 points while the NSE Nifty is trading up by 47 points. The BSE MidCap index is trading down by 0.1%, while the BSE SmallCap index is trading up by 0.4%.
The rupee is trading at Rs 71.81 against the US$.
In news from the engineering sector, Dilip Buildcon share price is in focus today as the company has received a Rs 21 billion order from country's largest coal mining company - Coal India.
The construction company in a statement said it has been awarded overburden removal contract mining work for Nigahi Project at Singrauli District in Madhya Pradesh by the Northern Coalfield Limited (NCL), a subsidiary of Coal India.
The company said the order was valued at Rs 21.2 billion and the contract period is 1,552 days.
The company was declared as L1 bidder in the reverse auction conducted by Northern Coalfields Limited (NCL), a subsidiary of Coal India Limited on September 29 this year.
Moving on to news from the banking sector, ICICI Bank share price is in focus today as the lender is looking to raise around Rs 200 billion by selling 6% to 7% stake to institutional investors. The bank has approached at least 10 investment banks for the same.
As per the news, the country's largest private-sector lender plans to complete the entire raise in a single tranche and may soon issue formal mandates to some of the investment banks it approached.
The qualified institutional placement (QIP) way was finalised after the bank dropped plans to issue American depositary receipts (ADRs).
The move, which would be the largest such capital raise in India, is aimed at subverting liquidity squeeze created in the sector after the IL&FS saga.
If the fund raising goes through, ICICI Bank would be following in the footsteps of multiple private-sector lenders that have already bettered or are considering improving their growth capital via QIPs.
QIPs allows listed companies to raise money, without the attached burden of submitting legal paperwork to market regulators.
Last month, ICICI Bank reported a jump of 247% in its profit before tax (PBT) for the July-September 2019 quarter (Q2FY20). The bank posted Rs 43.6 billion of PBT, compared to Rs 12.5 billion in the year-ago quarter.
Net profit, however, dipped by 27.9% year-on-year (YoY) to Rs 6.6 billion.
To know more, you can read ICICI Bank's Q2FY20 result analysis on our website.
Speaking of the banking sector, note that 2019 has been brutal for some banking stocks.
The market has severely punished them. This is due to issues such as worsening asset-quality, corporate governance, and inadequate capital.
As can be seen in the chart below,, here's how the correction looked like for some banking stocks as of October 15th...
Falling Knives in the Banking Sector
Falling stock prices could be enticing. After all, we love deep discounts and good bargains.
But if you're thinking of buying these stocks it's important to remember this point - If a stock is in a falling spree, there's probably a good reason behind it.
And realising this in a volatile market is the first step towards correcting one's investing process.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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
- Multibagger Penny Stocks
- Basics of Value Investing
- Benjamin Graham
- How to Invest in Gold
- How to Invest in Silver
- Best Stocks to Buy Today
- Best Small-cap Stocks to Buy
- Best Bluechip Stocks to Buy
- Guide to Penny Stocks
- How to Invest in the Share Market
- Warren Buffett - The Value Investor
- Pick the Best Multibagger Stocks
TRENDING TOPICS
Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
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.
Equitymaster requests your view! Post a comment on "Indian Indices Continue Momentum; Sensex Trades 186 Points Higher". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!