X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 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
  • MyStocks

MEMBER'S LOGINX

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

Engg, Banking Stocks Lead the Gains
Wed, 25 May Closing

Indian equity markets flourished in the green throughout today's trading session. Buying activity only intensified as the day progressed. At the closing bell, the BSE Sensex closed higher by 576 points, the NSE Nifty finished higher by 186 points. The S&P BSE Midcap the S&P BSE Small Cap indices finished up by 1% and 0.9% respectively. Gains were largely seen in capital goods and banking stocks.

Asian markets finished mixed. The Hang Seng gained 2.71% and the Nikkei 225 rose 1.57%. The Shanghai Composite lost 0.23%. European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.54% while France's CAC 40 is up 1.11% and London's FTSE 100 is up 0.74%.

The rupee was trading at 67.45 against the US$ in the afternoon session. Oil prices were trading at US$ 49.10 at the time of writing.

Buying activity was witnessed across majority of the pharma stocks with Indoco Remedies and Torrent Pharma leading the gains. Shares of Dr. Reddy's Laboratories finished the trading day on an optimistic note (up 1.3%) after it was reported that the company has entered into the branded consumer health arena through the acquisition of six over-the-counter (OTC) brands from Ducere Pharma, including Doan's, Bufferins, Nupercainal Ointment, Cruex Nail Gel, Comtrex and Myoflex.

These legacy products enjoy strong brand equity built over several decades. The company is extremely excited to be entering the branded consumer health arena through these brands and embarking upon the next avenue of growth for our OTC business in the US.

Recently, the Indian Health Ministry announced a ban on 344 fixed dosage combination (FDC) drugs. The ban came after an expert committee's recommendation. Pharma companies will have to suspend the manufacturing and sale of drugs that fall into this category, including cough syrups, analgesics, and antibiotic combinations. In a recent edition of The 5 Minute WrapUp Premium, we explained how FDCs pose a new challenge for the pharma companies (Subscription Required).

Moving on to news from the engineering sector. As per a leading financial daily, Bharat Heavy Electricals (BHEL) has successfully commissioned the first 800 MW Supercritical thermal unit in Karnataka, which is also the highest rating unit in the state. The unit has been commissioned at the 2x800 MW Yeramarus Thermal Power Station (TPS) located in Raichur district of Karnataka. Yeramarus is being developed by Raichur Power Corporation (RPCL) - a Joint Venture of Karnataka Power Corporation (KPCL) and BHEL.

The second unit of this project is also in an advanced stage of construction and is expected to be commissioned shortly. BHEL's scope of work for the project includes design, engineering, manufacture, supply, erection and commissioning of state-of-the-art supercritical Boiler and Turbine Generators along with associated civil works and agreed Balance of Plant packages.

The key equipment for the project has been manufactured by BHEL at its Haridwar, Bhopal, Ranipet, Hyderabad, Jhansi, Thirumayam and Bengaluru plants, while the construction of the plant has been undertaken by the company's Power Sector- Southern Region. BHEL has been a major partner of KPCL in the development of Karnataka's power sector. BHEL finished the day up by 4.4% on the BSE.

Engineering stocks finished the day on a positive note with L&T and BHEL leading the gains.

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 "Engg, Banking Stocks Lead the Gains". Click here!

  

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 18, 2017 (Close)

MARKET STATS