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

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


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

Share Markets in India Open Lower; GAIL & ONGC Drag
Fri, 5 May 09:30 am

Asian equity markets are trading on a mixed note today. The Shanghai Composite is off 1.09%, while the Hang Seng is down 0.92%. The US Stocks ended flat in the previous trading session amid mixed earnings and after the House of Representatives passed a healthcare overhaul.

Meanwhile, share markets in India have opened the day on a negative note. The BSE Sensex is trading lower by 135 points while the NSE Nifty is trading lower by 25 points. The BSE Mid Cap index opened down by 0.3% while BSE Small Cap index has opened the day flat.

Sectoral indices have opened the day on a mixed note with metal stocks and FMCG stocks leading the losses. While consumer durables stocks and realty stocks are witnessing buying interest. The rupee is trading at 64.21 to the US$.

Oil & gas stocks are witnessing selling pressure as oil prices plunged to five-month lows amid record trading volume in Brent crude, as OPEC and other producers appeared to rule out deeper supply cuts to reduce the world's persistent glut of crude.

Mining stocks are trading on a negative note with MMTC Ltd and Ashapura Minechem leading the losses. As per an article in a leading financial daily, Coal India Ltd (CIL) is considering a listing on the London Stock Exchange (LSE) and has had early discussions with the LSE.

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.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

In this regard, CIL is holding overseas roadshows as part of plans to dilute a 10% stake. The cabinet committee on economic affairs had agreed to the plan in November 2015.

The development comes ahead of the listing of NTPC's masala bonds at LSE and Singapore Stock Exchange this month. A listing by Coal India would be a boost for the LSE as it looks to attract companies following Britain's vote to leave the European Union, the reports noted.

However, CIL is looking at spending Rs 85 billion on capital expenditure in the ongoing fiscal. The PSU has taken various measures for full utilisation of capex during 2017-18 financial year. Further, Coal India accounts for over 80% of the domestic coal production and is eyeing 1 billion tonnes of production by 2020.

In one of our editions of The 5 Minute WrapUp, we have spoken about how Indian firms are looking to tap cheap funds from the overseas market through masala bonds. With firms increasingly looking to tap funds through masala bonds, the success of these bonds is likely to come to the rescue of these firms stuck in a debt trap. This, in turn, will provide the much-needed leg-up to investments in the country.

Coal India share price opened the day up by 1.4%

Moving on to the news from stocks in pharma sector. Wockhardt share price plunged 3% after it reported widening of its consolidated net loss to Rs 1.75 billion during the fourth quarter ended March 31, mainly on account of Brexit and subdued business in the US, UK markets.

Further, consolidated net sales of the company stood at Rs 40.15 billion for the fiscal year ended March 2017. It was Rs 44.53 billion for the previous fiscal.

While, sales in the domestic market declined 4% during the quarter due to the impact of a government move on demonetisation.

Wockhardt has been grappling with quality control issues raised by the US Food and Drug Administration (USFDA) for the past four years. Its formulations units at Chikalthana and Waluj in Maharashtra have been under the USFDA's import alert since 2013 for violations of manufacturing standards.

In the meanwhile, Wockhardt has got board approval to raise up to Rs 22 billion through equity and debt instruments.

The company plans to raise up to Rs 12 billion through the issuance of non-convertible debentures (NCDs) on a private placement basis and up to Rs 10 billion through equity instruments, including qualified institutional placement (QIP) of shares.

Speaking of pharma space in India, according to a report by The Hindu Business Line, in spite of the prevailing challenges in the Indian pharma sector is expected to grow up to 45% by 2025 and 58,000 additional employment opportunities are likely to be created in the industry amid the job crisis in India.

Indian Pharma Revenue Growth Accelerates

Despite the capping of prices, notebandi and GST implementation, all of which are perceived to impact the pharma sector adversely, the industry will continue to grow. In fact, by 2020, the pharma market will be touching US$ 55 billion, with a CAGR of about 15.9%.

So how can one make money in a rising market, with little support from earning trends and with brokerages getting it all wrong?

We believe a few super investors could provide the clue. These are the guys who've beaten the markets black and blue and have an eye for multi bagger stocks irrespective of the macro environment.

With respect to which super investors to follow, our Research analysts Kunal and Rohan have could be of great help courtesy their project, The Superinvestors of India.

To know more about these superinvestors and their stock picking approach, download a free copy of - The Super Investors Of India.

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 "Share Markets in India Open Lower; GAIL & ONGC Drag". 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


Mar 22, 2018 (Close)