Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 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


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

Realty and banking lead the markets
Fri, 27 May 01:30 pm

The Indian stock market continued to trade firm in the last two hours of trade. Most of the sectoral indices are trading in the green. Stocks from the realty, banking and oil & gas space are trading firm, while those from the auto and consumer durables space are trading weak.

The BSE-Sensex is up 229 points while NSE-Nifty is trading 65 points above the dotted line. BSE Midcap and BSE Small cap indices are up 1.3% and 0.8% respectively. The rupee is trading at 45.21 to the US dollar.

Engineering stocks are trading mixed with Jyoti Structures, AIA Engineering, Voltamp Tranformers and Punj Llyod leading the pack of gainers. However, Shanti Gears and Blue Star are trading weak. As per a leading financial daily, Crompton Greaves has acquired US-based QEI Inc for an enterprise value of about US$ 30 m. QEI provides automation systems and products for the management of electric transmission and distribution networks. As per the company's notice to stock exchanges, of the total sum of US$ 30 m, Crompton Greaves will make an upfront payment of US$ 24 m. The balance US$ 6 m will be paid as a conditional "earn-out" amount.

QEI had revenue of about US$ 12.4 m and EBITDA (earnings before interest, taxes, depreciation and amortization) of US$ 2.35 m for the year ended July, 2010. This acquisition presents a highly scalable opportunity for Crompton Greaves to capitalize upon the distribution automation markets in North America, India and Europe.

As per a leading financial daily, Elecon Engineering is expecting orders worth Rs 6 bn in next three or four months. The company has bid for various projects. It is expecting to get an NTPC order. No further details were divulged about the order. The company also expects the turnover for FY12 to rise to about Rs 14-15 bn, implying a 25% YoY growth. The company had achieved a growth of 13% YoY in its turnover for FY11. For FY12, it plans to make capex investments to the tune of about Rs 1.3 to 1.5 bn, more than double of what it spent in FY11. The capex will be utilized for capacity expansion (by around 65%) at the materials handling equipment and gearbox manufacturing units.

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 "Realty and banking lead the markets". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Feb 16, 2018 (Close)