X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 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

MEMBER'S LOGINX

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

Indian Indices Open Weak
Mon, 13 Jun 09:30 am

Major Asian stock markets have opened the day on a disappointing note with stock markets in Japan and Hong Kong are trading lower by 2.7% and 2.6% respectively. Benchmark indices in Europe and US ended their previous session deep in red with stock markets in Germany and France ending the day lower by 2.6% and 2.3% respectively. The rupee is trading at 66.79 per US$.

Indian stock markets have opened the day on a negative note owing to weak global cues. The BSE Sensex is trading lower by 261 points (down 1%) and the NSE Nifty is trading lower by 78 points (down 1%).Further, BSE Mid Cap and BSE Small Cap are trading lower by 0.6% and 0.7% respectively.

Major sectoral indices have opened the day in red with stocks from automobile, banking and capital goods sector witnessing the maximum selling pressure.

As reported in a financial daily, Tata Power renewable arm has signed an agreement with Welspun Energy to acquires its entire green energy portfolio. The deal is pegged at a sum of Rs 100 billion. Reportedly, it would be the largest solar merger and acquisition (M&A) deal in the country as well as in Asia.

With this deal, Tata Power has acquired about 1,140 megawatt (MW) of renewable power projects. This includes about 990 MW of solar power projects and about 150 MW of wind power projects spread across ten states in India.

Further, out of the 1,140 MW renewable portfolio, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.

The acquisition will enable the company to deliver significant value for all stakeholders as most of the assets are revenue generating and operating assets. The stock of Tata Power is trading down by 0.5%.

Talking about solar energy, we have recently written an article indicating a major flaw in the US$ 100 billion solar sector. You cannot miss to read this interesting piece. Click here to access it.

As per an article in Livemint, Maruti Suzuki India will open its manufacturing facilities after two weeks. The company could only utilize its facilities to produce at minimal levels during this time. The production was halted for a week on account of a bi-annual maintenance shutdown carried out between 6 June and 11 June. The production was affected a week before the annual maintenance too. This was on account of a fire at one of its supplier's factory named Subros. This disrupted the supply of AC kits, which in-turn halted the production.

Reportedly, the production loss estimated during these two weeks is pegged at 58,000 units. The production loss may possibly increase the average waiting period of its newly launched Vitara Brezza and Baleno to a record high. Currently, the average waiting period for these models are anywhere between 6 and 8 months.

The stock of Maruti Suzuki is trading down by 1%.

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 "Indian Indices Open Weak". Click here!

  

S&P BSE SENSEX


Jul 20, 2017 (Close)

MARKET STATS