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?  

Pharma stocks in limelight
Mon, 28 Apr 01:30 pm

With persistent selling in index heavy-weights, Indian share markets continued to trade below the dotted line in the post-noon trading session. However barring capital goods, FMCG and auto, all the sectoral indices are trading in the green. Pharma stocks are the biggest gainers today.

BSE-Sensex is down 33 points and NSE-Nifty is trading 13 points down. BSE Mid Cap is trading 0.8% up and BSE Small Cap index is trading up by 0.3%. The rupee is trading at 60.4 to the US dollar.

Majority of the auto stocks are trading in the red with Tube Investments and Hero MotoCorp being the major losers whereas Escorts and Eicher Motors are among the few stocks trading in the red. As per a leading financial daily, Maruti Suzuki has said that it will continue to extend discounts to boost sales. The company offered average discount to the tune of Rs 17,500 across models in March 2014 quarter. Slowdown in passenger car sales has continued despite the government slashing the excise duty in February. On small cars, the excise duty was cut from 12% to 8%. For mid-sized cars, the levy was reduced from 24% to 20% whereas large cars saw duty fall from 27% to 24%. Additionally, Maruti had to bear an additional outgo of Rs 1.4 bn to compensate dealers for vehicle stock already sold after price cuts announced by it. Reportedly, Maruti cut vehicle prices between Rs 8,502 and Rs 30,984 across models in February after excise duty was reduced by the government. Maruti's stock is trading down marginally.

Most of the large IT stocks are trading in the red with HCL Infosys and NIIT being among major losers. Mphasis and Wipro are among a few stocks trading in the green. As per a leading financial daily, Tata Consultancy Services (TCS) has said that it expects its loss-making Brazilian unit to turn in the black by the end of FY14.The Brazil unit has been making losses for at least the last five years and registered a net loss of Rs 433 m in FY13. TCS had started operations in Brazil in 2002 and currently employs 1,300 staffers and operates two development centres. However contribution of sales from the region is less than 1% of consolidated sales. Indian IT companies have increased investments in Brazil to serve local customers and utilize the country's prowess as near shore delivery location. The IT market in Brazil is estimated to be worth $25 bn.

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 "Pharma stocks in limelight". 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.