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?  

Realty, energy lead markets firm
Fri, 6 Jun 01:30 pm

Indian stock markets continued to trade positive during the previous two hours of trade led by persistent buying among the Index heavy weight. Buying activity is led by stocks from realty and energy stocks, while stocks from the IT sector are trading weak today.

The BSE-Sensex is trading up by 245 points and the NSE-Nifty is trading up by 65 points. The BSE Mid Cap index is trading up 1.5% and the BSE Small Cap index is trading up by 1.4% today. The rupee is trading at 59.19 to the US dollar.

Most of mining stocks are trading firm today. While Sesa Sterlite is trading weak, MOIL and Ashapura Minechem are leading among the stock of gainers today. As per a leading business daily, Coal India is planning joint ventures worth Rs 100 bn with Gail India, RCF and Fertilizer Corporation of India (FCIL). The deal will involve manufacturing of 3 lakh tonnes of urea per annum and about 300 to 400 tonnes of ammonium nitrate daily. It may be noted that ammonium nitrate which is in short supply in the country, is the main ingredient for making explosives used for blasting materials at coal mines. Its short supply causes increase in price resulting in higher input costs for Coal India. The company will form two joint ventures. The joint venture with GAIL is for coal gasification technology in which Coal India will hold minority stake. The second joint venture is with RCF and FCIL, where Coal India will hold majority stake. This venture will utilize gasified coal technology to manufacture ammonium nitrate and urea. In the meanwhile Coal India will seek shareholder's approval to change its article of association. The stock is trading higher by 0.4%.

Majority of the auto stocks are trading in the green with Hero MotoCorp and Mahindra & Mahindra being the major gainers. As per a leading financial daily, Hero MotoCorp posted a sales growth of 8% YoY to 6.02 lakh units in May. Even sequentially, the sales were up by 5.5% from 5.7 lakh units sold in April. The company had split from its collaborator Hero Motor Company in 2011. But the company has been investing in developing technology for new bikes as well as expanding its presence in the overseas markets. Hero MotoCorp stock is trading up by 2.2%.

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 "Realty, energy lead markets firm". 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.