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
  • MyStocks

MEMBER'S LOGINX

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

Markets will remain closed on 26th June, 2017 on account of Ramzan EID.

No Respite for Indian Indices
Thu, 11 Feb 01:30 pm

Following a negative trend since the opening of trade, the Indian indices have continued to remain under pressure in the post noon trading session. Sectoral indices are trading on a negative note with stocks from the power, realty and energy sectors bearing the maximum brunt.

The BSE Sensex is trading lower by 311 (down 1.3%) and the NSE Nifty is trading down by 92 points (down 1.3%). The BSE Mid Cap index is trading down by 1.5% while the BSE Small Cap index is trading down by 2.3%. Gold prices, per 10 grams, are trading at Rs 28,685 levels. Silver price, per kilogram, is trading at Rs 37,209 levels. Crude oil is trading at Rs 1,854 per barrel. The rupee is trading at 68.03 to the US$.

Stocks in the telecom space are trading on a mixed note with Indian Telephone Industries (ITI) and Himachal Futuristic leading the losses. Bharti Airtel is in talks to merge its wholly-owned Sri Lanka unit into Dialog Axiata in a likely share-swap deal. As per the news, a potential Airtel Lanka-Dialog-Axiata merger is likely to be along the lines of the recent merger of Bharti Airtel and Axiata's telecom units in Bangladesh, wherein Axiata will be the dominant shareholder and Airtel a strategic minority holder in the combined entity.

Reports suggest that Dialog Axiata may issue ordinary shares to Bharti Singapore, a wholly-owned Bharti Airtel offshore arm. However, one key hurdle for the deal is that the Competition Commission of Sri Lanka may have some issues with a potential Airtel Lanka-Dialog merger since Dialog Axiata already controls over half the country's mobile market.

The above deal can bring in many opportunities for Airtel. A merger with market leader Dialog Axiata would catapult Airtel Lanka from the fourth-largest carrier spot to becoming a part of an entity which is the No 1 mobile operator in Sri Lanka.

On a separate note, Bharti Airtel has migrated 40,000 of its network sites across India to green technology. These green network sites are designed to operate largely on battery-hybrid, lithium-ion and solar-hybrid solutions, with little diesel consumption. The development comes as a part of the company's Project Leap. The company stated that under the project it will establish a world-class and future-ready network, while committing to bring down its carbon footprint emission by 70% by 2018.

Bharti Airtel is the largest wireless service provider India by subscriber base. Besides India, Airtel has operations in 19 countries across Asia and Africa, with a total of 350 million users as on December 31, 2015. Last month, Airtel and Axiata Group Berhad had inked a pact to combine their respective Bangladesh subsidiaries- Airtel Bangladesh and Robi Axiata- to leverage their operational synergies. Presently the scrip of the company is trading up by 0.9%.

Stocks in the pharmaceutical space are also trading on a mixed note with Panacea Biotech and Dishman Pharma witnessing maximum selling pressure. GlaxoSmithKline (GSK) Pharmaceuticals has reported results for third quarter ended December 31, 2015. The company has reported 76% rise in its net profit during the quarter at Rs 799 million on a YoY basis. Total income of the company has increased by 11% YoY to Rs 7 billion for the quarter under review.

The quarter includes the vaccine sales arising from the asset sales agreement with Novartis India that concluded the end of the prior quarter and contributed to 4% sales growth. The company's management stated that investments at the company's existing site at Nashik as well as proposed manufacturing site at Vemgal, Karnataka are on track to deliver products to meet the future demand.

GSK is one of the world's leading research-based pharmaceutical and healthcare companies. The company's product portfolio includes prescription medicines and vaccines. Their prescription medicines range across therapeutic areas, such as anti-infectives, dermatology, gynaecology, diabetes, oncology, cardiovascular disease and respiratory diseases.

By the way, if you are interested in the pharmaceutical sector, here's our recent analysis report on the same.

Presently the scrip of the company is trading down by 0.3%.

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 "No Respite for Indian Indices". Click here!

  

S&P BSE SENSEX


Jun 23, 2017 (Close)

MARKET STATS