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 share markets remain weak
Thu, 24 Jan 01:30 pm

Backed by persistent weakness in index heavyweights, Indian share markets continued to remain in the red in the post noon trading session. Barring FMCG and IT, all sectoral indices are trading weak with auto, realty and power stocks being the biggest losers.

BSE-Sensex is down 72 points and NSE-Nifty is trading down by 24 points. BSE Mid Cap and BSE Small Cap indices are trading down by 1.7% and 1.5%, respectively. The rupee is trading at 53.8 to the US dollar.

Majority of the power stocks are trading in red with PTC India and Reliance Power being the biggest losers. According to a leading financial daily, Tata Power is actively scouting for opportunities to develop hydro projects in order to boost power generation capacity from renewable energy sources. The company has set a power generation target of 26,000 MW by 2020 out of which 20%-25% of the contribution is expected from clean energy sources including a mix of hydro, solar, wind, geo thermal and waste gas generation. Currently, the company has an installed generation capacity of 7,700 MW out of which 447 MW is the hydro power generation capacity. Tata Power is implementing an 880 MW hydro project in Nepal and 114 MW hydro project in Bhutan and has recently bagged a 240 MW hydro electric project in Himachal Pradesh. Tata Power stock is currently down 1.4%.

Most of the FMCG stocks are trading in the red with Emami Infra and Bata India being among the top underperformers. As per a financial daily, Colgate Palmolive workers have finally called off the strike at the Goa unit. Both company management and workmen have reached a cordial resolution and the workmen have resumed regular duty. The work at the toothpaste manufacturing unit resumed after almost 18 days of strike which had commenced since 6th Jan 2013. The protest was due to suspension of a workman, working in the same unit. Reportedly, the disruption caused due to the strike will have very little impact on the company's business. The stock was trading up by 0.82%.

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 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.