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?  

Sensex Opens in Green; IT & Power Stocks Lead
Tue, 20 Jun 09:30 am

Asian equity markets are mixed today as markets awaited MSCI's decision on the potential inclusion of mainland Chinese stocks. The Shanghai Composite is off 0.09% while the Hang Seng is down 0.06%. The Nikkei 225 is trading higher by 1.10%. US stocks rose on Monday, with the S&P 500 and the Dow hitting record highs on hopes of strong economic growth.

Meanwhile, share markets in India have opened the day on a flat note with positive bias. The BSE Sensex is trading higher by 58 points while the NSE Nifty is trading higher by 6 points. The BSE Mid Cap Index and BSE Small Cap index opened the day up by 0.3% & 0.1% respectively.

Tata Motors share price gained 2.5% on the reports that Tata Motors is considering an initial public offering (IPO) for its Jaguar Land Rover subsidiary. Tata purchased Jaguar Land Rover from Ford Motor Co. for US$2.4 billion in 2008.

Barring bank stocks, all sectoral indices have opened the day in green with information technology stocks and power stocks leading the pack of gainers. The rupee is trading at 64.38 to the US$.

Engineering stocks opened the day on a mixed note with Jyoti Structure & Bharat Bijlee leading the gains. As per an article in a leading financial daily, Larsen and Toubro Ltd.'s construction arm won contracts worth Rs 22.31 billion across various business segments.

The company's building & factories business has bagged a turnkey order worth Rs 13.24 billion from Andhra Pradesh Township Infrastructure Development Corporation, for the construction of residential buildings in the West Godavari District of Andhra Pradesh.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Further, the company's power transmission & distribution (PT&D) business segment has secured a transmission line order worth of Rs 5.40 billion from the Power Grid Corporation of India.

Additionally, the water & effluent treatment business has won an order worth Rs 3.67 billion from Tamil Nadu Water Supply & Drainage Board to execute a dedicated water supply project for Erode Corporation.

The company said an engineering procurement and construction contract has also been bagged from NHPC for development of a 50-mw grid-connected solar photovoltaic project.

Diversification continues to help L&T (subscription required) negotiate and get better terms and margins for projects. Apparently, this is because it is less desperate to win orders as compared to a company which are present in only a couple of sectors. Its reputation, extensive technical prowess, and large skilled workforce have enabled L&T to command a certain premium from customers and vendors alike.

Whether further addition to these new projects provides a cushion to its profitability will be an interesting thing to watch out for going forward. Subscribers can access L&T's latest result analysis and L&T stock analysis on our website.

L&T share price opened up by 0.5%.

Moving on to news from stocks in pharma sector. As per an article in a leading financial daily, Cadila Healthcare's subsidiary Zydus Cadila has received an approval from the US health regulator to market Eletriptan Hydrobromide tablets used in treatment of migraine.

The United States Food and Drug Administration (USFDA) has granted approval to market Eletriptan Hydrobromide tablets, 20 mg (base) and 40 mg (base).

The drug is currently marketed and manufactured by Pfizer Inc and sold in the US and Canada under the brand name Relpax.

According to the company, the drug will be produced at the group's formulations manufacturing facility at the Pharma SEZ (special economic zone) in Ahmedabad.

Zydus Cadila now has more than 120 approvals and has so far filed over 300 abbreviated new drug applications since the commencement of the filing process in FY 2003-04.

Lately, pharmaceutical companies have been facing a surfeit of problems in the largest generic market, the US. Rising competition and consolidation in the distribution channel have led to price erosion and delayed approvals for them.

Once considered a safe haven for investors, the pharma sector has been on a steady decline over the past two years.

'Safe Haven' Pharma Sector in Decline since 2 Years

The list of pharma sector woes (subscription required) is long. But, is there light at the end of the tunnel? Girish Shetty, our research analyst thinks there is.

As per him, it doesn't make sense to paint all pharma stocks with the same brush. The leaders of the industry will certainly survive this phase. And just like IT, there are interesting, niche pharma stocks that are worth your attention.

So, what is the key to identifying potential multibagger stocks? How does one pick them at the right time and ride them to their full potential? How many multibaggers do you really need to achieve the big riches that you desire?

Most importantly, are there any stocks right now that could turn out to be multibaggers? Click here to know everything that you need to know right now about mutlibagger stocks...

Cadila Healthcare share price opened up by 0.4%.

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 "Sensex Opens in Green; IT & Power Stocks Lead". Click here!

  

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE HEALTHCARE


Jul 25, 2017 (Close)

MARKET STATS