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 weak
Wed, 29 May 09:30 am

Barring Hong Kong (down 0.7%) and Indonesia (down 0.3%), all major Asian equity markets have opened the day on a firm note with Taiwan (up 0.9%), South Korea (up 0.7%) and Japan (up 0.7%) leading the gains. The Indian share markets indices have opened the day on a weak note. Stocks in the banking and power space are leading the losses. However, information technology and healthcare stocks are trading firm.

The Sensex today is down by around 73 points (0.4%), while the NSE-Nifty is down by around 22 point (0.4%). However, mid and small cap stocks are trading marginally in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.03% and 0.1% respectively. The rupee is trading at Rs 56 to the US dollar.

Power stocks have opened the day on a weak note with Adani Power, Reliance Power and Reliance Infrastructure leading the losses. As per a leading financial daily, Tata Power has set a target of generating 20-25% of its total generation capacity from clean energy sources. As a part of this strategy, the company plans to add 150-200 megawatt (MW) of wind energy and 30-50 MW of solar energy capacity every year. So far, it has invested Rs 23.9 bn in wind and solar energy. Currently, it's domestic power generation capacity from clean energy sources such as hydro, wind and solar is 873 MW. Of this, the wind energy segment comprises 397 MW across states such as Maharashtra, Gujarat, Tamil Nadu, Karnataka and Rajasthan. On the other hand, the installed capacity in the solar energy segment is 28 MW.

Aluminium stocks have opened the day on a weak note with Hindalco Industries, Sterlite Industries and National Aluminium Company (Nalco) leading the losses. State-run aluminium player Nalco has announced its financial results for the quarter and year ended March 2013. During the quarter (4QFY13), the company reported net sales (including other operating income) of Rs 18,672.7 m, higher by 4.6% year-on-year (YoY). Operating profits increased by 37.5% YoY to Rs 4,216.3 m on account of lower operating expenses. Operating profit margin improved from 17.2% in 4QFY12 to 22.6% in 4QFY13. Other income declined by 25.3% YoY to Rs 1,189.7 m. In 4QFY12, the company had reported exceptional gains of Rs 639.4 m. As a result, net profits during the quarter declined by 12.8% YoY to Rs 2,460.3 m. Net profit margins declined from 15.8% in 4QFY12 to 13.2% in 4QFY13. During the financial year 2012-13 (FY13), the company's net sales were higher by 4.6% YoY at Rs 69,164.8 m. Net profits for the year stood at Rs 5,828.3 m, lower by 31.4% YoY.

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 weak". 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.