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 open firm
Mon, 4 Feb 09:30 am

Asian stock markets have opened the day on a firm note with stock markets in Japan (up 0.8%) and Taiwan (up 0.8%) leading the gains. The Indian share market indices have opened the day on a firm note. Stocks in the consumer durables and banking space are leading the gains.

The Sensex today is up by around 73 points (0.4%), while the NSE-Nifty is up by around 25 points (0.4%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.5% each. The rupee is trading at Rs 52.98 to the US dollar.

Engineering stocks have opened the day on a firm note with Alstom Projects and KSB Pumps leading the gains. As per a leading financial daily, state-run power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) has been granted 'Maharatna' status by the Government of India. The reasons the company was able to achieve this status is because of consistent high performance and fulfillment of required eligibility criteria. As per the guidelines, a company must have an average turnover of Rs 250 bn and average net profits of over Rs 50 bn during the last three years as well as a net worth of over Rs 150 bn. It is worth noting that the Maharatna status enables a firm to take investment decisions of up to Rs 50 bn without seeking the government's approval. The company has said that the Maharatna status will help it realise its long term objectives and achieve a turnover of Rs 1 trillion by financial year 2016-17 (FY17).

Cement stocks have opened the day on a firm note with Birla Corporation and UltraTech Cement leading the gains. As per a leading financial daily, India's largest cement manufacturer UltraTech Cement has initiated talks to acquire an incomplete 6.7 million tonne cement plant in Gujarat that is owned by ABG Cement (ABGCL). It is said that the company has engaged in three rounds of negotiations so far. It must be noted that Axis Capital, the investment banking arm of Axis Bank, is advising UltraTech Cement on the deal. As per the daily, the Aditya Birla Group-owned company has offered about Rs 46.6 bn which values the plant at Rs USD 130 per tonne. However, ABG is said to be demanding Rs 50.08 bn, valuing the plant at USD 156 per tonne. As of June 2012, ABGCL had invested Rs 25.25 bn in the cement plant. The total estimated cost of the project is Rs 30.28 bn. The plant is expected to be operational by the fourth quarter of 2013-14 (4QFY14).

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 open firm". 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.