MEMBER'S LOGINX
| Invalid Username / Password | ||||||||
| Invalid Captcha | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
- Home
- Todays Market
- Indian Stock Market News April 25, 2017
Sensex Opens Strong; Nifty at All Time high Tue, 25 Apr 09:30 am
Asian stock markets are higher in today's trade buoyed by Wall Street gains as well as relief that North Korea did not conduct another missile test to mark a military anniversary. The Shanghai Composite is up 0.32% while the Hang Seng is up 0.93%. The Nikkei 225 is up by 0.84%. Stock markets in Europe and US finished on a strong note after centrist candidate and market favorite Emmanuel Macron won the first round of the French presidential election.
Meanwhile, Indian share markets have opened the day on a strong note. BSE Sensex is trading higher by 157 points and NSE Nifty is trading higher by 48 points. Meanwhile, S&P BSE Mid Cap and S&P BSE Small Cap are trading higher by 0.7% and 0.6% respectively. Gains are largely seen in realty stocks, oil & gas stocks and consumer durables stocks.
The rupee is trading at 64.48 against the US$.
Reliance Industries share price surged 3% in early trade after the company reported a 12.3% increase in its consolidated March quarter profit, boosted by higher refining margins and better earnings from its petrochemical unit.
India's finished steel products output is likely to increase to 88.6 million tonnes (MT) in the current year. The country's finished steel output is also likely to increase to 94.9 MT in 2018. According to World Steel Association which released its Short Range Outlook (SRO) for 2017 and 2018, the country produced 83.5 MT of finished steel products last year.
The production of steel is expected to grow due to growing economy and increasing urbanization. Finished steel products are those which are obtained upon hot rolling/forging of semi-finished steel -- blooms, billets, slabs. These cover two broad categories, namely long products and flat products.
Just Released: Multibagger Stocks Guide
(2017 Edition)
In this report, we reveal four proven strategies to picking multibagger stocks.
Well over a million copies of this report have already been claimed over the years.
Go ahead, grab your copy today. It's Free.
As per World Steel Association, steel demand in the emerging and developing economies, including China, which accounts for 30% of world total, is expected to grow by 4% in 2017 and 4.9% in 2018.
Meanwhile, the government's proposal to give domestic steel companies a preference in government projects should protect them from cheaper imports. In February, domestic steel output rose by 12.9% YoY, as large private steel producers such as Tata Steel and JSW Steel ramped up output. Imports during the first eleven months of FY17 dropped by 39% YoY.
But the bigger concern is weak consumption growth. The consumption data over the past few months clearly show that there are no takers for domestic steel. So steel makers have been forced to export more, with overseas shipments up by 78% YoY in the fiscal till February.
Steel stocks began the day on a mixed note with JSW Steel share price and Tata Sponge share price leading the gains.
Moving on to the news from software stocks. As per an article in a leading financial daily, HCL Technologies (HCL) has entered an agreement to acquire Urban Fulfillment Services, LLC, (UFS). UFS is a provider of mortgage business process & fulfillment services.
Reportedly, the acquisition of UFS will strengthen HCL's capabilities in mortgage BPO services, loan fulfillment and debt servicing space. The move comes as the company looks to bolster its presence in the mortgage business process outsourcing market.
HCL will buy the US-based company in an all-cash deal for a total consideration of up to US$30 million. The transaction is expected to be completed by June 2017, subject to certain closing conditions and customer approvals.
Further, Urban Fulfillment Services had a turnover of US$48 million for the financial year ended 31 December 2016. The company, which has been undergoing restructuring, has more than 350 employees. HCL will be acquiring 100% stake in UFS, the reports noted.
One must note that, HCL has been actively chasing its inorganic growth strategy. In October last year, it agreed to acquire Butler America Aerospace, LLC for US$85 million in cash. In April 2016, it announced to buy the IT business of Geometric for US$190 million and had acquired the external IT business of Sweden's Volvo Group in February that year.
HCL Technologies share price opened the day up by 0.6% on the BSE
Wipro share price began the trading day up by 0.6% ahead of the quarterly earnings report to be declared later in the day. As per the reports, The IT firm is expected to report a flattish organic revenue growth for the quarter ended March 31.
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
Indian Share Market Update: Top Gainers and Losers
But the bigger concern is weak consumption growth. The consumption data over the past few months clearly show that there are no takers for domestic steel. So steel makers have been forced to export more, with overseas shipments up by 78% YoY in the fiscal till February.
Steel stocks began the day on a mixed note with JSW Steel share price and Tata Sponge share price leading the gains.
Moving on to the news from software stocks. As per an article in a leading financial daily, HCL Technologies (HCL) has entered an agreement to acquire Urban Fulfillment Services, LLC, (UFS). UFS is a provider of mortgage business process & fulfillment services.
Reportedly, the acquisition of UFS will strengthen HCL's capabilities in mortgage BPO services, loan fulfillment and debt servicing space. The move comes as the company looks to bolster its presence in the mortgage business process outsourcing market.
HCL will buy the US-based company in an all-cash deal for a total consideration of up to US$30 million. The transaction is expected to be completed by June 2017, subject to certain closing conditions and customer approvals.
Further, Urban Fulfillment Services had a turnover of US$48 million for the financial year ended 31 December 2016. The company, which has been undergoing restructuring, has more than 350 employees. HCL will be acquiring 100% stake in UFS, the reports noted.
One must note that, HCL has been actively chasing its inorganic growth strategy. In October last year, it agreed to acquire Butler America Aerospace, LLC for US$85 million in cash. In April 2016, it announced to buy the IT business of Geometric for US$190 million and had acquired the external IT business of Sweden's Volvo Group in February that year.
HCL Technologies share price opened the day up by 0.6% on the BSE
Wipro share price began the trading day up by 0.6% ahead of the quarterly earnings report to be declared later in the day. As per the reports, The IT firm is expected to report a flattish organic revenue growth for the quarter ended March 31.
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
Indian Share Market Update: Top Gainers and Losers
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
- Multibagger Penny Stocks
- Basics of Value Investing
- Benjamin Graham
- How to Invest in Gold
- How to Invest in Silver
- Best Stocks to Buy Today
- Best Small-cap Stocks to Buy
- Best Bluechip Stocks to Buy
- Guide to Penny Stocks
- How to Invest in the Share Market
- Warren Buffett - The Value Investor
- Pick the Best Multibagger Stocks
TRENDING TOPICS
Copyright © Equitymaster Agora Research Private Limited.
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
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.
Equitymaster requests your view! Post a comment on "Sensex Opens Strong; Nifty at All Time high". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!