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?  

Power & Auto stocks lead the losses
Tue, 20 May 11:30 am

After opening firm, the Indian indices are trading flat in the morning session. Selling pressure is witnessed in Auto, power and capital goods stocks.

The BSE-Sensex is trading up 15 points and the NSE-Nifty is trading up 4 points. The BSE Mid Cap index is trading up 1.6%, while the BSE Small Cap index is trading up 2.1% today. The rupee is trading at 58.73 to the US dollar.

Private banking stocks are trading mixed today. Karur Vysya Bank and Federal bank are leading the gainers. ICICI Bank and Yes Bank are leading the losers. As per a press release on BSE, HDFC Bank will be raising Rs 100 bn from the market over the next one year. It will be selling fresh equity shares in both domestic and foreign markets. The issuance however is subject to a final approval of the bank's shareholders at the annual general meeting of the bank scheduled to be held in June this year.As per the industry experts, the bank's decision to raise fresh capital is likely to get good response from the lenders as it is in the growth phase right now and the amount can be deployed for an aggressive growth plan. In the past, other private banks such as ICICI Bank and Axis bank have also raised capital. HDFC Bank is trading up 0.8% today.

Telecom stocks are trading higher today. Tata Communication and ITI Ltd are leading the gainers. As per a leading news network, India's telecom service provider, Bharti Airtel has received a letter of intent from the Department of Telecom (DoT), regards to taking new telecom licences in Delhi and Kolkata. Bharti has received the new Unified Licence (UL) from the DoT as its original 2G licence will expire this year in these areas. The UL licence allows operators to provide all telecom services like 2G, 3G etc, i.e. it is technology neutral. However it does not come with any spectrum. As per the rules telcos are not allowed to hold any stake in competing firms which hold the UL licence. Thus Vodafone India will have to sell its stake 4.4% stake in Bharti Airtel. The stock of Bharti Airtel is trading up 0.8% today.

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 "Power & Auto stocks lead the losses". 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.