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?  

Realty stocks lead among gainers
Wed, 6 Mar 01:30 pm

Indian share markets continued to trade strong in the post noon trading session. Most of the sectors were trading in green barring the FMCG sector. Stocks from realty and metal were among leading gainers in the pack.

BSE-Sensex is up by 122 points and NSE-Nifty is trading up by 37 points. While BSE Mid Cap is trading up by 1.33%, BSE Small Cap index is trading up by 1.41%. The rupee is trading at 54.77 to the US dollar.

Majority of the aluminium stocks are trading in the green, with Sterlite Industries and Hindalco being among the leading gainers. As per a financial daily, the Aditya Birla group company, Hindalco will shut down the Australia copper mine. The company has taken this step given the challenges in making money at existing copper prices. Reportedly, the current price per unit is too low resulting in higher unit operating cost at its Mt Gordon operations. This is hurting the overall profitability of the company. Further, copper is currently trading at US$ 7,700 a tonne. This rate is much below when LME copper was trading at rate of US$ 9,600 a tonne two years back. The cash costs incurred at Mt Gordon's in the Dec quarter was at AUS$ 3.82 a pound, which is much below than the unit price realized by the company. Further, the company does not expect any improvement in the prices in the near term. The stock of Hindalco was trading up by 2.4%.

Most of the pharma stocks are trading in the green with Orchid Pharma and Dishman Pharma being the top gainers. Ranbaxy Ltd has announced that it has entered into a deal with Alembic Pharmaceuticals to exclusively market Desvenlafaxine based extended release tablets in the US. Alembic is a sponsor and manufacturer of the NDA (New drug application). The product is approved by USFDA under 505(b)(2) filing. Reportedly, the drug is bioequivalent to the brand Pristiq by Pfizer. The branded market size of the drug is US$ 590 m and it is used to treat depressive disorder. Both the companies expect to market the drug soon. Ranbaxy was trading up 2%.

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 "Realty stocks lead among gainers". 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.