X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 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
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Mid and small caps buck the trend
Wed, 1 Feb 11:30 am

Indian stock markets traded weak over last two trading hours on selling pressure across sectors. consumer durables and realty stocks were the top losers. However, auto stocks were leading the pack of gainers.

The BSE-Sensex is trading down by 60 points and NSE-Nifty is trading down by 12 points. However, BSE Mid cap and BSE Small cap indices are trading strong by 0.6% and 0.9% respectively. The rupee is trading at 49.55 to the US dollar.

FMCG stocks are trading mixed today. Gains are led by Henkel India and Archies Ltd. However, Paper Products and Camlin Ltd are on the losing end. As per a leading daily, Dabur is looking at investing US$ 20 m to build plants in Africa. The FMCG company wants to explore other markets in the wake of intensified competition in the home market of India. It may be noted that the company's international business already contribute to about one third of its total sales. These grew by 38% in December 2011 quarter led by growth mainly in Nigeria. Dabur acquired Namaste Laboratories LLC in the US and Hair Rejuvenation and Revitalisation in Nigeria last year. This was done with the objective of manufacturing locally in those countries as well as localizing supply chain there. Dabur's move is in line with other Indian FMCG companies that have been looking outside for business growth through acquisitions and capacity expansions.

Energy stocks are trading strong led Essar Oil and a Cairn India. As per a leading daily, Indian Oil Corporation (IOC) is thinking of cutting jet fuel prices by up to 3.1% from February 1, 2012. The prices would be cut from Rs 65920 per kilolitre to Rs 63864 per kilolitre in Mumbai. The revised price in Delhi would be Rs 62908 per kilolitre. IOC is supposed to be the trend setter for other state oil refiners who follow its footsteps. Thus, we can expect similar moves from these refiners soon too.

IOC is also looking at investing Rs 77 bn in pipelines by 2015. The pipeline business has been doing well in the recent past. Last year this generated revenues of Rs 42 bn and a net profit of Rs 30 bn. The plan is to lay more than 20 new pipelines. With this IOC's total network would expand from 10,900 km to 15,000 km by 2015.

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

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Mid and small caps buck the trend". Click here!

  

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Feb 23, 2018 03:35 PM

MARKET STATS