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

Banking stocks lead among gainers
Fri, 29 Nov 01:30 pm

Backed by persistent buying activity Indian markets continued to trade in green during the post noon trading session. All the sectoral indices are trading in green with banking and realty stocks being the leading gainers.

BSE-Sensex is up by 252 points and NSE-Nifty is trading up by 83 points. While BSE Mid Cap is trading up by 0.91%, BSE Small Cap index is trading up by 0.89%. The rupee is trading at 62.31 to the US dollar.

Most of the Steel stocks are trading in green with Jindal Saw Ltd and Maharashtra Seamless being among the leading gainers. As per the financial daily, the first phase of Tata steel's greenfield steel plant at Kalinganagar in Odhisha will go on stream stream by 2HFY15. Reportedly, the newly joined Tata steel managing director T V Narendram said the first phase will be of three million and will start somewhere between September 2014 to March 2015. Further, the project was estimated at Rs 154 bn at the time of signing of MoU with the state government in 2004. The cost has now escalated to about Rs 400 bn due to delays. The first phase will cost about Rs 250 bn. The company's proposed 50,000 tonne per annum ferroalloys plant and 0.4 million tonne bar mill at Gopalpur will also be commissioned in FY15. Tata steel is trading up by 0.4%,

Automobile stocks are trading mixed with Ashok Leyland and Force Motors being the biggest gainers and Escorts and Maharashtra Scooters trading in the red. As per a leading financial daily, the Ministry of Heavy Industries has said that it is targeting to introduce subsidies for electric vehicles, under the National Electric Mobility Mission Plan, by April 2014. Under the plan, the government would provide incentives to the tune of Rs 120 bn over the next seven years till 2020 with an average subsidy of Rs 20 bn each year. The subsidies are aimed at building a thriving electric vehicle market in India. As per studies by 2020, the government expects a penetration of 1.5 m four wheelers and 4.5 m two wheelers based on electricity and will have a share of 17% of the total sales. As per the Ministry of Heavy Industries, success of the electric vehicles will result in fuel savings of Rs 400 bn. The government is contemplating to offer incentives to the vehicle owner on the cost differential with respect to the electric vehicle. The prime reason for the delay in the roll-out of incentives is the economic slowdown that has left the government cash strapped.

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 "Banking stocks lead among gainers". 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.