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 Markets gain momentum 
(Fri, 13 Feb 01:30 pm) 
 
Indian equity markets continued to surge in the post-noon trading session. Barring Oil & Gas sector, all the sectoral indices are trading in the green with banking, auto and healthcare stocks being the biggest gainers.

BSE-Sensex is up 225 points and NSE-Nifty is trading 68 points up. BSE Mid Cap is trading up by 0.7 % and BSE Small Cap index is trading up by 0.5%. The rupee is trading at 62.43 to the US dollar.

MNC Pharma stocks are trading strongly. Pfizer and Novartis are the leading gainers. According to a leading financial daily, GlaxoSmithKline (GSK) Pharmaceuticals has agreed to transfer its cancer drugs portfolio to a subsidiary of Novartis. In reply, GSK will acquire Novartis' vaccine business, manufacturing capabilities and facilities. This is a part of global deal between two pharmaceutical companies struck last year. GSK has suffered setback during the fourth quarter ended December 2014. The company's net profits declined 18% YoY on a consolidated basis although the company's net sales grew by 1.2% YoY. Company's other income declined by 21% YoY. The firm's performance was impacted by supply constraints. GSK is trading higher by 1.4% on the BSE.

According to a leading financial daily, Titan Company is in advanced negotiations to invest Rs 1.87 bn in online jewellery retailer Carat-Lane for 15% equity stake. Reportedly, the agreement is to be signed in a few weeks with Carat-Lane's current valuation at about Rs 12 bn. Titan which is a part of Tata Group has four business divisions which includes watches & accessories, jewellery, eyewear and precision engineering. Titan draws approx. 80% of its revenue from its jewellery business and this joint venture would give Titan an access to new age brand and customers whereas Carat-Lane is to gain from Titan's experience in marketing.

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 Markets gain momentum". Click here!

  
 

MARKET STATS