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


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Realty & power, strong gainers
Thu, 10 Apr 01:30 pm

Indian share markets remained buoyant in the post-noon trading session. Barring IT, FMCG and pharma, all the sectoral indices are trading in the green. Realty, power and capital goods stocks are the biggest gainers.

BSE-Sensex is up 56 points and NSE-Nifty is trading 18 points up. BSE Mid Cap is trading 0.9% up and BSE Small Cap index is trading up by 1%. The rupee is trading at 60.2 to the US dollar.

Domestic pharma stocks are trading mixed with Elder Pharma and Torrent Pharma being the major gainers whereas Aurobindo Pharma and J B Chemicals are trading in the red. As per a leading financial daily, Lupin's US subsidiary has bagged approval from USFDA for diabetes drug Pioglitazone. Pioglitazxone is the generic version of Takeda Pharmaceuticals USA Inc's Actos tablets and the approval has been given for tablets in 15 mg, 30 mg and 45 mg strengths. As per IMS MAT data, Actos tablets have a market size of $ 236 m in the US. For the quarter ended December 2013, consolidated revenues of Lupin grew by a decent 21% YoY led by growth in both the formulations and API segments. The US business grew by 31% YoY in rupee terms during the quarter and accounted for 45% of overall sales. In this, the branded business contributed 11%, while the share of the generics business stood at 89%. Lupin stock is currently trading down 1%.

Majority of energy sector stocks are trading firm today. Gainers are being led by Essar Oil and Gujarat Gas, while Indian Oil Corporation (IOC) is trading lower. As per a leading business daily, Gas Authority Of India Ltd. (GAIL) is planning to build Rs 26 bn poly butadiene rubber (PBR) plant in Dahej, Gujarat. PBR is highly elastic and stress resistant rubber used for manufacturing of tyres. GAIL's proposed plant will have a PBR capacity of 110,000 tonnes p.a and is expected to be commissioned by June 2016. Manufacturing of PBR requires raw material butadiene. GAIL is expected to source it from ONGC Petro Additions, arm of Oil and Natural Gas Corporation Ltd. (ONGC) that is expected to be commissioned this year. GAIL is in discussion for long term procurement of the raw material and is also considering to for joint venture with ONGC for the proposed plant.

Currently, Reliance Industries is the only producer of this rubber. It has a capacity of 80,000 tonnes p.a. Reliance is in advanced stage to commission another 40,000 tonnes p.a. capacity plant. India's total PBR demand is about 160,000 tonnes p.a. out of which half is sourced indigenously while the balance is imported. Going forward, demand for PBR rubber is expected to grow at a rate of 6.4% annually. GAIL is also looking at exportibg PBR to China and other southeast Asian countries. GAIL stock is trading up 0.6%.

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 "Realty & power, strong gainers". 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


Feb 21, 2018 (Close)