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?  

Poor GDP data adds to the problem
Thu, 31 May Closing

Indices in the equity market in India did make a valiant attempt to break into the positive toward the closing stages. However, it did not prove to be enough as they still managed to close the day significantly in the red. Thus, while BSE-Sensex edged lower by around 90 points, NSE-Nifty lost in the region of 25 points (down 0.5%). BSE Mid cap and BSE Small cap indices went separate ways as while the former closed higher by around 0.4%, the latter closed 0.6% lower.

The GDP shocker in the form of a below par 5.3% GDP growth in fourth quarter of FY12 was the key reason behind today's fall we believe. However, markets did well to recover partially from the same, giving out indications that the news has already been digested and another event is now being awaited. Although the same may or may not come, current levels are good enough for investors to make handsome long term gains. The key is to stick with companies carrying good fundamentals and having good management teams at the helm.

Bharat Heavy Electricals Limited (BHEL), the domestic power equipment behemoth closed marginally higher on the bourses today. The optimism seemed to have emerged on account of news that the company has bagged an order worth Rs 11.4 bn from NTPC for supply and installation of the main plant package for a power project in the state of Madhya Pradesh. The project involves one thermal power generating unit of 500 MW. The unit is being set up under the Mega Power Project policy of the Government of India and reinforces BHEL's pre eminent position in the execution of thermal power projects involving high quality equipment, suited to Indian coal as well as conditions.

Steel Authority of India (SAIL), India's largest steel producer in the public sector, has signed a 50:50 JV with Burn Standard Company (BSCL) for the setting up of a wagon components manufacturing facility at the premises of BSCL in West Bengal. The JV will have a capacity to produce 10,000 bogies and 10,000 couplers per annum. The total outlay for the project is likely to be in the region of around Rs 2 bn. SAIL closed higher by around 2% on the bourses 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 "Poor GDP data adds to the problem". 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.