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 markets remain steady
Wed, 9 Jan 11:30 am

Indian equity markets have remained steady during the previous two hours of trade. Practically all sector indices have showed northward movement except for FMCG

Sensex today is up by 58 points and NSE-Nifty is up by 11 points. BSE Mid Cap and BSE Small Cap indices are trading higher by 0.6% and 0.5% respectively. The rupee is trading at 54.93 to the US dollar.

Auto stocks have continued to trade in the green. As per a leading financial daily, Maruti Suzuki, India's largest car maker has continued to lose market share in 2012 because of multifarious factors. The market share in 2012 has dropped to 37.8% from 44.6% in 2010. While labour trouble at its Manesar plant has been primarily responsible for the loss in optimal production units, a shift in demand towards diesel powered cars because of rising petrol prices also led to the downfall in Maruti's market share. On top of those, another problem in 2012 has been the fall in demand for micro cars such as the Alto, Wagon R, Ritz and Zen Estilo. Alto, the country's top-selling car, has reported an 8% fall in sales, while Wagon R has suffered an 8.5% fall in sales and has slipped to the fourth position from the second position it enjoyed in 2011. However, despite the fall in sales, Maruti still enjoys a huge lead over the second largest player Hyundai Motor, India. Maruti's management is hopeful that it can improve its market share to around 40% in 2013 with the backing of some new launches and a slew of makeovers.

Mining stocks are trading strong led by Gujarat NRE Coke and Ashapura Minechem. According to a leading daily, Manganese Ore India Limited (MOIL) is planning to increase its production to 2.2 m tonnes by 2020. For this, the company plans to invest Rs 12 bn in phases. We may note here that MOIL is in an expansionary phase and even wants to diversify. It is thinking of starting joint venture production of ferro manganese and silico manganese with Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited. The plants for these would be set up at Bhilai in Chhattisgarh and Vizag in Andhra Pradesh. As of now, MOIL supplies 42% of India's total manganese ore requirement. It also supplies 75% of the high grade ore.

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 markets remain steady". 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.