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
Tue, 25 Feb 09:30 am

Barring Indonesia (down 0.6%), most major Asian stock markets have opened the day on a firm note with South Korea (up 0.6%) and Japan (up 1.4%) leading the gains. The Indian share markets have also opened the day on a firm note. Stocks in the banking and consumer durables space are leading the gains.

The Sensex today is up by around 69 points (0.3%), while the NSE-Nifty is up by around 24 points (0.4%). The midcap and smallcap stocks have also opened in the green with the BSE Mid Cap and BSE Small Cap indices trading higher by 0.6% and 0.4% respectively. The rupee is currently trading at Rs 62.07 to the US dollar.

MNC pharma stocks have opened the day on a firm note with Pfizer Ltd and Sanofi India leading the gains. As per a leading financial daily, Pfizer Ltd, the Indian arm of the world's largest drug maker Pfizer Inc, announced that two of its shareholders- Pfizer Investments Netherlands and Pfizer Corporation, Panama- will be offloading majority stake to Pfizer East India Netherlands. This deal is part of an internal restructuring of the company. Pfizer East India will acquire 29% and 31% stake in Pfizer Ltd from the Netherlands and Panama units. It must be noted that while the Netherlands units will sell its stake at Rs 1,537 per share, the Panama unit will give its stake as a gift, without any consideration.

Cement stocks have opened the day on a firm note with Heidelberg Cement and Ambuja Cements leading the gains. As per a leading financial daily, Jaiprakash Associates is in discussion with Holcim-owned ACC Ltd to sell off its 74% stake in two cement joint ventures with India's leading state-run steel maker Steel Authority of India Ltd (SAIL) for Rs 29 bn. Jaiprakash Associates has a consolidated debt burden of about Rs 600 bn. The stake sale is part of the group's plan to cut down its debt pile by about 25% before the end of the current fiscal year. It must be noted that Jaiprakash Associates is India's third largest cement maker with a capacity of 33.3 million tonnes per annum (mtpa).

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.