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?  

India share markets remain buoyant
Wed, 12 Mar 01:30 pm

After opening weak and then rebounding, Indian share markets remained positive in the post-noon trading session. Sectoral indices are trading mixed with pharma, consumer durables and FMCG stocks being the biggest gainers whereas oil and gas, auto and capital goods are among major losers.

BSE-Sensex is up 21 points and NSE-Nifty is trading up 7 points. Both BSE Mid Cap and BSE Small Cap indices are trading up by 0.1%. The rupee is trading at 61.1 to the US dollar.

Most of the hotel stocks are trading in the green with Taj GVK and Indian Hotels being the biggest gainers. As per a leading financial daily, Indian Hotels Company Ltd (IHCL) will make provisions to the tune of Rs 4 bn in its standalone financials and Rs 1 bn in its consolidated financials for FY14 due to diminution in the value of its long-term investments. As per the company, sustained depression in the macroeconomic environment in the domestic and overseas markets has resulted in decline in fair value of long term investments and consequent erosion in net worth. IHCL has earlier booked losses of Rs 3.7 bn on investments in luxury hotel chain, Orient-Express Hotels (OEH) as well as written off Rs 3.7 bn. In November 2013, the company did not go ahead with its $1.8 bn offer to acquire OEH. On a consolidated basis, for the nine month ended December 2013, the company reported 9% YoY increase in net sales and a net loss of Rs 3.9 bn as compared to Rs 411 m net loss in the same period last year. IHCL's stock is currently trading up by 1.8%.

Indian Pharma stocks are trading on a mixed note today. While Sun Pharma is among the top gainers, Cadila Healthcare and IPCA Labs are trading weak. As per a leading business daily, Sun Pharma's subsidiary Caraco has received US Food and Drug Administration (USFDA's) approval for marketing of the drug, Risperidone used in the treatment of schizophrenia (a mental disorder). This would allow Caraco to market Risperidone oral tablet in the US. The company received approval despite various customer complaints against it in the US recently. The complaints earlier prompted the company to voluntarily recall 2,528 bottles of metformin, generic version of diabetes drug Glumetza from the US market. The stock of Sun Pharma is among the top gainers in the Sensex today. It is trading up by 3.7% today.

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 "India share markets remain buoyant". 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.