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 open in the red
Tue, 27 May 09:30 am

The major Asian stock markets have opened the day on a mixed note with stock markets in Japan (up 0.9%) and Taiwan (up 0.2%) leading the gains. However, stock markets in Singapore (down 0.2%) and Korea (down 0.8%) have opened in the red. The Indian share markets have opened the day on a weak note. Barring healthcare and software, all sectoral indices have opened in the red with the stocks in the power and energy sectors leading the losses.

The Sensex today is down by around 115 points (0.5%), while the NSE-Nifty is down by about 40 points (0.6%). The midcap and smallcap stocks have also opened in the negative with BSE Mid Cap and BSE Small Cap cap indices down by around 0.8% and 0.6% respectively. The rupee is currently trading at Rs 58.94to the US dollar.

Energy stocks have opened mainly in the red with Jindal Drill Ltd and GAIL (India) Ltd leading the gains. However, Gujarat Gas Ltd and Mangalore Refinery and Petrochemicals Ltd (MRPL) have opened in the red. State gas utility firm GAIL (India) Ltd has announced results for the quarter ended March 2014. The firm has reported a revenue growth of 17% YoY during the quarter. The gas transmission volumes and hence the gas marketing during the quarter declined due to decline in production in Panna/Mukta and Tapti fields and East coast. The net profit for the quarter was up 57% YoY due to better petrochemical and LPG prices and drop in subsidy outgo. For FY14, the growth in the revenues and net profit came at 21% YoY and 9% YoY respectively. The subsidy for FY14 stood at Rs 19 bn, down from Rs 26 bn in FY13.

Indian Pharma stocks have opened the day on a mixed note with Panacea Biotech Ltd and J.B.Chemicals Ltd leading the losses. However, Dishman Pharma and Indoco Remedies Ltd were leading the gains. Wockhardt Ltd has reported results for the quarter ending March 2014. The company has reported a decline of 30% YoY in the total income during the quarter. The net profit for the quarter declined by a whopping 77% YoY due to import alerts received from the international regulators. The company has received import bans from the USFDA and United Kingdom Medicines and Healthcare products Regulatory Agency (UKMHRA) on its Aurangabad and Daman facilities over non-compliance to good manufacturing practices. The company has filed 10 new product applications with the United States Food and Drug Administration (USFDA) during the quarter taking cumulative filings pending approvals to 62. It has also filed for 134 patents during the quarter.

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 open in the red". 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.