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?  

Volatility mars Indian indices
Thu, 16 May Closing

Indian equity markets had a rather volatile trading session today. The indices began the day's proceedings on a weak note. While they notched gains subsequently, alternate bouts of buying and selling meant that trading for most part of the session was restricted within a range. The final trading hour saw indices eventually closing in the green. While the BSE-Sensex closed higher by 34 points, the NSE-Nifty closed higher by 23 points. Both the BSE Mid Cap and the BSE Small Cap closed on a positive note. Maximum buying interest was seen in Realty and Oil and Gas stocks.

As regards global markets, Asian indices closed in the green. European indices have opened in the red. The rupee was trading at Rs 54.83 to the dollar at the time of writing.

According to a leading financial daily, Maruti Suzuki is planning to start manufacturing of light commercial vehicles (LCV). A new LCV code named Y9T is already under development and will compete head-on with the Tata Ace. It will be powered by a new 2-cylinder 800cc diesel engine, now in advanced stages of development. The new LCV is being developed ground up at the India research and development centre, a sign of the Japanese parent's growing confidence in the Indian subsidiary's R&D capabilities. The company's first LCV will roll out from its Gujarat plant which goes on stream in FY16.

According to a leading financial daily, IT firms such as Infosys, HCL Technologies, Mahindra Satyam have bid for the services business of Chennai-based software firm Polaris Financial Technologies. However, the bidders are offering a price that is lower than US$ 400 m that Polaris was expecting for it. Polaris announced a split of its business into two divisions, services and products, with a separate CEO for the services business and individual CEOs for different product lines, facilitating value unlocking in a business that saw flat growth in the last financial year. For potential buyers, Polaris' services business represents the largest asset available in India today to expand their footprint in the financial services industry, which despite a slump continues to be the biggest spender on technology. The potential buyer could get committed business from Citi for a period of 3-7 years, which is typical in such deals.

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 "Volatility mars Indian indices". 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.