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?  

Indian share markets shed initial gains
Tue, 21 May 11:30 am

Indian share markets have shed initial gains during the previous two hours of trade. IT and oil and gas are leading the pack of winners while realty and auto are facing the maximum selling pressures.

The BSE-Sensex is down by 20 points and NSE-Nifty is down by 12 points. BSE Mid Cap index is trading down by 0.1% while BSE Small Cap index is trading down by 0.2%. The rupee is trading at 55.03 to the US dollar.

Mining shares are trading on a mixed note with Coal India Ltd (CIL) and Ashapura Minechem leading the gains while Sesa Goa Ltd and Metals and Minerals Trading Corporation of India Ltd. (MMTC) are leading the losses. CIL has reported its standalone results for the fourth quarter (4QFY13) and financial year ending March 2013. For 4QFY13 CIL's net profit has jumped by 90% YoY on account of dividend paid by subsidiaries. However, CIL's net sales for 4QFY13 have declined by 21% YoY to Rs 1.2 bn, vis-a-vis Rs 1.5 bn in the same period last year. For 2012-13, the coal miner has reported a YoY rise of 21.4 % in its standalone net profit at Rs 97.9 bn, again largely due to dividends paid by its subsidiaries. CIL, which has nine subsidiaries, will announce its results on a consolidated basis next Monday (May 27).

Energy shares are trading on a mixed note with Gujarat State Petronet and Gas Authority Of India Ltd. (GAIL) leading the gains while Petronet LNG and Chennai Petroleum are leading the losses. According to a leading financial news medium, public sector oil and gas explorer, Oil and Natural Gas Corporation Ltd. (ONGC) has added 84.8 m tonnes to its reserves for the year 2012-13, which is the highest reserve accretion by the oil major achieved in two decades. As a result of the discoveries made last year, the company now has much more oil, as well as oil-equivalent gas. Currently ONGC produces 44-45 m tonnes of oil plus oil-equivalent. This puts ONGC's reserve-replenishment ratio for 2013 at 1.9, the eighth consecutive year when the ratio is above 1. ONGC is a premier oil and gas company in India, accounting for 71% of the country's crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. ONGC's share is trading up by 0.9%.

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 "Indian share markets shed initial gains". 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.