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 markets remain flat
Thu, 19 Jun 11:30 am

Despite opening on a higher note, the Indian stock markets remained flat during the previous two hours of trading session. Among the sectors, IT and realty stocks are leading the pack of gainers, while energy stocks are witnessing selling pressures.

The BSE-Sensex is trading up by 5 points and the NSE-Nifty is trading down by 2 points. The BSE Mid Cap index is trading up 0.1% and the BSE Small Cap index is trading up 0.2% today. The rupee is trading at 60.12 to the US dollar.

Capital Goods stocks are trading mixed. Emco and Punj Lloyd are leading the stock of gainers, while Shanthi Gears is trading on a weak note. As per a leading business daily, the state owned capital goods firm Engineers India Ltd. has bagged its largest ever single consultancy contract for a 20 m tonne oil refinery from a Nigerian firm. The contract worth USD 139 m is from Dangote Oil Refinery Company for providing services for its refinery and polypropylene plant in Lekki Free Trade Zone near Lagos, Nigeria. Engineers India will undertake project management consultancy and engineering, procurement and construction work for a petroleum refinery and polypropylene plant. The company's muted order book over past 2 to 3 years had impacted the sales growth. In fact the company's FY14 turnover at Rs 18.2 bn was lowest in the last 5 years. However, the latest contract is expected to provide some respite in terms of growth in the near future. The stock is trading higher by 2.4% today.

MNC Pharma stocks are trading mixed today. While Novartis India is leading the stock of gainers, Fulford India is trailing weak. Novartis India plans to focus on new product launches and domestic growth going forward. The company is reinforcing its strategy in the Indian market for the multi-national players despite the regulatory challenges after it lost the patent battle with Glivec last year. The company during the previous year launched 3 successful patented drugs and more than 12 generic drugs which helped expand the company's presence in India. The company's parent recently acquired the UK drug maker Glaxo SmithKline and is floating a joint venture to sell over-the-counter drug. It is also expected to launch few GSK's products in India. The company is optimistic about India's demographic advantage; however it remains skeptical about the pricing pressures that domestic pharma companies are facing.

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 markets remain flat". 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.