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Power Stocks Lead the Losses
Mon, 25 Apr 01:30 pm

Indian markets are trading on a negative note in the post noon trading session. Sectoral indices are trading on a negative note with stocks from the energy, metal and power sectors bearing the maximum brunt.

The BSE Sensex is trading lower by 178 (down 0.7%) and the NSE Nifty is trading down by 53 points (down 0.7%). The BSE Mid Cap index is trading down by 0.2% while the BSE Small Cap index is trading down by 0.4%. Gold prices, per 10 grams, are trading at Rs 29,151 levels. Silver price, per kilogram, is trading at Rs 40,200 levels. Crude oil is trading at Rs 2,904 per barrel. The rupee is trading at 66.78 to the US$.

Stocks in the energy space are trading on a mixed note with Cairn India and Reliance Industries leading the losses. As per a leading financial daily, Oil and Natural Gas Corporation (ONGC) is planning to explore as many as 17 shale gas and oil wells in both east and west coasts. The company is going to invest around Rs 7 billion for the same.

This is recorded as the first time that the company has taken up shale gas exploration on such a big scale in the Krishna-Godavari basin.

Furthermore, the company has sought permission for drilling 11 exploratory wells for shale oil/shale gas in Cambay basin at Mehsana, Ahmedabad and Bharuch districts of Gujarat, one well in Cauvery basin at Nagapattinam in Tamil Nadu and five wells in KG Basin at East and West Godavari districts of Andhra Pradesh.

ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India. To know our view on the stock of the company, you can read our analysis of the third quarter results here (subscription required).

Presently the stock of ONGC is trading down by 0.9%.

Stocks in the automobile space are also trading mixed with Force Motors leading the gains and TVS Motors leading the losses. In another news update it was reported that Tata Motors is eyeing to raise Rs 3 billion through issuance of Non-Convertible Debentures (NCDs). The funds are raised to meet its expansion plan.

One shall note that this fund-raising is a part of the company's plan to mop up Rs 44 billion through issuance of NCDs in one or more tranches on a private placement basis. The company had last year in May proposed to raise Rs 44 billion from NCDs to meet its expansion plan.

Tata Motors is India's largest automobile company. The company recently stated that its global wholesales, including Jaguar Land Rover (JLR), rose 11% in March 2016 on a YoY basis. Also, the company's total sales during the month stood at 1,18,750 units.

Presently the stock of Tata Motors is trading down by 1.1%.

By the way, Equitymaster turned 20 years old last Friday. Our founder, Ajit Dayal, recently wrote about what this achievement and your continued support means to all of us at Equitymaster. Please do read the note Ajit penned for our 20th birthday.

Also, Ankit Shah, in a recent edition of The 5 Minute WrapUp, interviewed Ajit to get some colour on Equitymaster's 20-year journey.

Ajit gave a fascinating glimpse into the long-term vision behind the launch of Equitymaster...and the early stumbling blocks, including the event that nearly killed the company!

Here's a snippet:

We were part of the evolution of the capital markets. We always wished to be the thoughtful, sensible unemotional view on what was happening in the Indian economy, the global economy, or company earnings and its eventual impact on share prices. We were trying to protect the retail Indian investor from their own emotions of fear and greed and from a well-trained army of financial foot soldiers who were out to grab their wallets.

We believed then that a better informed investor, a well-educated investor, can make sensible returns on their investments in stock markets. We still believe that but with one modification. There is a saying that you can lead a horse to water, but you cannot force it to drink.

In a similar way, I believe that there are many people out there who wish to stay thirsty: They have no desire to learn and understand. They work hard, they save money, then - at some dinner party - they are sold some story and they give away their savings to a smooth-talking financial intermediary. And their wallet is gone. In a bad world, Equitymaster is an open oasis: Those who wish to seek shelter and shade are welcome.

This is just a taster. If you have not read this interview already, we urge you to do so right away...

Our Special 20th Anniversary Gift!

Last but not the least, as we celebrate two decades of guiding investors to smarter investments, we have an exceptional gift for you...

In fact, it is something we've never offered before...

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For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Mar 22, 2018 (Close)