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?  

Capital goods stocks buck the trend
Fri, 15 Feb 11:30 am

Indian share markets continued to trade in the red during the previous two hours of trade. Sectoral indices are trading weak except for capital goods stocks.

The BSE-Sensex is trading lower by 58 points and NSE-Nifty is trading down by 24 points. BSE Mid Cap and BSE Small Cap indices are trading down by 0.3% and 0.9% respectively. The rupee is trading at 53.92 to the US dollar.

Mining stocks are trading in the red led by Ashapura Minechem and Minerals and Metals Trading Corporation (MMTC). According to a leading daily, Coal India is prepared to meet its supply target even though it will miss its production target this year by up to 6 m tonnes. The company will be able to supply the required 470 m tonnes by drawing on its stocks. We may note here that Coal India has a stockpile of 47 m tonnes at present. The coal miner had a production target of 464 m tonnes for current year. It has failed to keep pace with the capacity growth in the power sector which uses coal for power generation. Coal India recently announced results for quarter ended December 2012 and reported 13% YoY growth in sales and 9% YoY growth in net profits.

Automobile stocks are trading weak led by Force Motors and Bajaj Auto. As per a leading daily, Mahindra & Mahindra (M&M) is looking at investing 80 bn Korean Won (about US$ 73.7 m) in its Korean arm, Ssangyong Motor Co. The board of Ssangyong approved of a third party allotment (a preferential offer) of 14,545,455 equity shares at an issue price price of 5,500 Korean Won. This offer would result in M&M's stake in Ssangyong to rise to 72.85% from the current 69.63%. As per the management, this move is in line with M&M's objective of assisting Ssangyong in achieving a turnaround faster. Also, this would help increase M&M's global competitiveness.

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 "Capital goods stocks 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 21, 2018 (Close)

MARKET STATS