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 share markets firm up 
(Thu, 6 Mar 01:30 pm) 
 
Indian share markets soared higher in the post-noon trading session. Barring FMCG, all the sectoral indices are trading in the green with realty, power and metal stocks being the biggest gainers.

BSE-Sensex is up 124 points and NSE-Nifty is trading 44 points up. BSE Mid Cap is trading 1.3% up and BSE Small Cap index is trading up by 1.4%. The rupee is trading at 61.2 to the US dollar.

Most of the auto ancillary stocks are trading in the green with Wheels India and Bharat Forge being the biggest gainers. As per a leading financial daily, Bharat Forge has been de-risking its business over the last five years by increasingly selling forged products to non-automotive sectors such as oil & gas, power, railways, defence, mining and construction. The share of its domestic revenues from the non-automotive segment has risen from 28% in FY09 to 39% in FY13. Bharat Forge wants to raise the share of non-auto sales to 60% in two years. Several of the company's diversification ventures are in partnerships. In defence, the company has a joint venture with Israel based company Elbit Systems and an alliance with defence and security company Saab. Even in energy, Bharat Forge has a joint venture with French major Alstom. Bharat Forge's stock is presently trading up 3.6%.

Majority of the pharma stocks are trading in the green with J B Chemicals and Elder Pharma being among major gainers whereas Lupin and Ipca Labs are a few stocks trading in the red. As per a leading financial daily, Swedish company Sanofi has slapped a patent infringement case against Glenmark on cardiac drug Multaq in Delaware. Sanofi has filed a suit against both Glenamrk and Dublin based Actavis (Watson) to restrain them from commercializing their Abbreviated New Drug Application (ANDA) products before the expiry of certain US patents. Multaq drug is indicated to reduce the risk of hospitalization for atrial fibrillation and had total sales of $ 319 m in 2013 as per IMS Health data. Glenmark's stock is currently trading up by 0.7%.

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 share markets firm up". Click here!

  
 

5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS