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 markets continue to rally
Mon, 26 May 11:30 am

After opening positive; the Indian indices have continued to rally in the last two hours of the trading session. Auto, Capital Goods and Power stocks are leading the gainers.

The BSE-Sensex is trading up 334 points and the NSE-Nifty is trading up 96 points. The BSE Mid Cap index is trading up 1.5%, while the BSE Small Cap index is trading up 1.7% today. The rupee is trading at 58.41 to the US dollar.

Most of the power stocks are trading positive today. Neyveli Lignite and Reliance Power are leading the gainers. According to a leading business daily; Tata Power is focusing on overseas opportunities in South East Asia and SAARC regions. Tata Power aims to have 18,000 MW generation capacity by 2022 as well as additional 4,000 MW of distribution networks. The company currently has an installed generation capacity of 8,560 MW and have projects having capacity of nearly 850 MW under execution. Tata Power is developing wind and hydro projects in Africa, Bhutan and Georgia, among others. The company has deployed resources in the above mentioned regional geographies to understand the market dynamics and tap the potential opportunities. Tata Power is trading 3% up today.

Most software stocks are trading higher today. HCL technologies and Tech Mahindra are leading the gainers. As per a leading financial daily, India's third largest software firm Wipro has decided to be more aggressive in bidding for deals in the Energy and Utilities industry. Currently this vertical contributes about 16% of Wipro's revenue. The company sees this as a recession proof industry. Thus the management would prefer that contributes a higher percentage of revenue. Demand for IT services from this industry is high in the developed world where end consumers are free to choose their electricity provider. Demand from this vertical had held up relatively well in the last recession. In this industry, Wipro competes with Tata Consultancy Services (TCS), Accenture, IBM and Capgemini globally. Wipro is trading up 1.3% 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 "Indian markets continue to rally". 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.