Helping You Build Wealth With Honest Research
Since 1996. Try Now

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?  

Capital goods drag indices lower
Wed, 30 Jul 11:30 am

After opening weak, the Indian stock markets have continued to trade bellow the dotted line during the morning trading session. Sectoral indices are trading mixed. Consumer durables and Banking stocks are the leading gainers, while capital goods and metal sector stocks are at the receiving end.

The BSE-Sensex is trading down 28 points. The NSE-Nifty is trading down 12 points. The BSE Mid Cap index is trading down 0.8% and the BSE Small Cap index is down 0.3%. The rupee is trading at 60.14 to the US dollar.

Indian pharma stocks are trading mixed today. Dishman Ltd and Elder Pharma are among the leading losers while Wockhardt Ltd and Cadila Healthcare are among the leading gainers. As per the financial daily, competition commission of India (CCI) has raised concerns over Sun Pharma's acquisition of Ranbaxy. CCI has ordered for public investigation, as the deal is expected to increase market domination by one company. This in turn will impact the prices of essential drugs in the domestic market. Reportedly, this is among the very rare action taken by CCI to ask hard questions of a merger-in-the-making. Few weeks back even some minority shareholders had filed a litigation in the high court. This litigation was recently cleared and even stock exchanges had given green signal for the merger. While the approval from SEBI, and CCI was still pending.

Telecom stocks are trading mixed today. While Bharti Airtel is leading the gainers; Tata Communications is leading the losers. India's largest telecom firm Bharti Airtel, has announced results for 1QFY15. Consolidated revenues for the quarter grew by 13.3% YoY to Rs 229.6 bn. Net profits jumped by 60.9% YoY to Rs 11.1 bn. The growth was driven by data services. Data revenues grew by 73.9% YoY to Rs 22 bn. Revenues from the African business were up 17.5% YoY in rupee terms but 12.1% YoY in constant currency terms. The realized rate per minute from the African business was also muted. While voice ARPM remained flat YoY, data ARPM grew by just 8% YoY. The consolidated net debt of the company reduced to Rs 577.4 bn at the end of June 2014, from Rs 605.4 bn reported till end-March 2014. Bharti Airtel is trading up 5.1% today.

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 "Capital goods drag indices lower". 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 Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

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 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.