X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Indian share mkts shed gains 
(Mon, 28 Jan 11:30 am) 
 
Indian share markets fell into the red after opening today's trade on a positive note. Sectoral indices are trading mixed with realty and auto stocks leading the gains while consumer durables and energy stocks are the top losers.

The BSE-Sensex is trading lower by 11 points and NSE-Nifty is trading down by 4 points. However, BSE Mid Cap and BSE Small Cap indices are trading up by 0.2% and 0.6% respectively. The rupee is trading at 53.77 to the US dollar.

Most of the mining stocks are trading firm led by Manganese Ore India Limited (MOIL) and Ashapura Minechem. According to a leading daily, Coal India (CIL) has decided upon a production target of 492 m tonnes for FY13-14. This implies a targeted growth of 6% in output. For FY13, the coal company is looking at supplying 464 m tonnes of coal and is well poised to meet its target. However, it will depend on the production in last 2 months. We may note that CIL produces about 80% of India's coal and in the wake of shortage of fuel supply, it is under pressure to raise output. However, CIL has been facing its own problems in the form of availing environmental and regulatory approvals. Resultantly, the growth in output levels has remained nearly flat for the past two years and it missed its production target last year.

Automobile stocks are trading firm with TVS Motors and Hero MotoCorp being the top gainers. As per a leading daily, Ashok Leyland is looking at selling stake in some of its subsidiaries to raise Rs 5 bn. The company is aiming to use these proceeds for paying off debt to the tune of Rs 35 bn. These subsidiaries include Hinduja Leyland Finance Limited (HLFL), Albonair GmbH, Defiance Technologies and Defiance Testing & Engineering. It is also looking at offloading stake in IndusInd Bank. It may divest its stake either partially or fully in the companies. The automobile company will be carrying out these activities over the next 1 year and would start once the merger of two of its associate companies, Ashley Holdings and Ashley Investments, with Ashok Leyland are completed.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian share mkts shed gains". Click here!

  
 

S&P BSE SENSEX


Jul 21, 2017 02:13 PM

MARKET STATS