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 weak
Wed, 27 Nov 09:30 am

Asian stock markets have opened the day on a mixed note with Japan (down 0.4%) and South Korea (down 0.2%) leading the losses. However, markets in Taiwan (up 0.7%) China (up 0.7%) and Hong Kong (up 0.6%) are trading firm. The Indian share markets indices have opened the day on a negative note. Stocks in the banking and metal space are leading the losses. However, auto and capital goods stocks are trading firm.

The Sensex today is down by around 12 points (0.1%), while the NSE-Nifty is down by around 4 points (0.1%). However, mid and small cap stocks are trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.3% and 0.1% respectively. The rupee is currently trading at Rs 62.50 to the US dollar.

Indian pharma stocks have opened the day on a firm note with Piramal Enterprises, Indoco Remedies and Divi's Laboratories leading the gains. As per a financial daily, India's leading biotechnology firm Biocon Ltd has announced that it has received marketing authorisation from the Drugs Controller General of India (DCGI) for its Trastuzumab biosimilar drug, CANMab. It would start marketing the drug in India by the fourth quarter of the financial year 2013-14 (4QFY14). This makes it the world's first biosimilar version of Swiss drugmaker Roche's Herceptin brand to be awarded regulatory approval. It is worth noting that Trastuzumab is a monoclonal antibody used in the treatment of metastatic breast cancer. The company has jointly developed CANMab with American pharmaceutical company Mylan. In 2012, Trastuzumab's sales were estimated to be around US$ 21 million in India and around US$ 6.4 billion globally.

Engineering stocks have also opened the day on a firm note with Sanghvi Movers and Everest Kanto Cylinder leading the gains. As per a leading financial daily,Tata Group air conditioning and engineering services firm Voltas has bagged three overseas project orders in the Middle-East worth Rs 10 bn. The first project is for a 120-bed integrated health centre and workers' hospital in Qatar. The second project is for a sports hall and administrative office in a 5,350-seat indoor stadium. This stadium is being built to host the World Cup Handball Competition scheduled for January 2015 in the country. And the third project is for a 5-Star hotel, the Kempinski Wave in Muscat.

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 weak". 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.