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?  

Indian equity markets remain weak
Tue, 8 Jan 01:30 pm

The Indian equity markets continued to trade in the negative territory, though in a range bound manner during the noon trading session. Most of the sectoral indices are trading in red, barring Pharmaceuticals, FMCG and Automobiles sectors.

The Sensex today is down by 35 points and NSE-Nifty is trading down 18 points. While BSE Mid Cap is trading down by 0.44%, BSE Small Cap index is trading down by 0.5%. The rupee is trading at 55.9 to the US dollar.

Pharma stocks are trading mixed with Glenmark Pharmaceuticals and Torrent Pharma leading among the gainers while Biocon Ltd and Fresenius Kabi are witnessing losses. Biocon Ltd announced that the company has received marketing authorization from Indian regulator, DCGI (Drugs Controller General of India) for its Novel biologic drug itolizumab for chronic plaque Psoriasis. This is Biocon's Anti CD-6 molecule which is undergoing trials for various other geographies as well. In India Biocon will start selling the drug later this year with the brand name Aluzumab, through its Immunotherapy division. Psoriasis is an autoimmune skin disease, which affects 2%-3% of India's population. The global market for psoriasis treatments is estimated to cross $8 billion by 2016. Aluzumab will be company's second biologic drug in India, after its launch of BioMab EGFR, an anti cancer monoclonal antibody being the first.

Majority of the power stocks are trading in red with IndiaBulls Power and Nevyeli Lignite being the biggest losers. As per a leading financial daily, Tata Power has synchronized the fourth 800 MW unit at the ultra mega power project (UMPP) in Mundra. The first three units with 800 MW capacity each were commissioned last year. The company is setting up a 4,000 MW UMPP at Mundra in Gujarat. Tata Power's wholly owned subsidiary, Coastal Gujarat Project Ltd is implementing the UMPP at Mundra based on imported coal. The company has approached the Central Electricity Regulatory Commission (CERC) to raise power tariffs in line with higher prices of international coal. Tata Power has power purchase agreements with seven customers from five states for the sales of the contracted capacity. With this synchronization, the total power generation capacity of the utility provider has reached 7,699 MW. Out of this thermal power currently accounts for 6,847 MW. Tata Power stock is currently down 0.6%.

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 equity markets remain 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 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.