Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


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

Realty & Infrastructure Lead Gains
Wed, 29 Jun 01:30 pm

Indian Indices continue to remain in positive territory during the post-noon trading session as buying continues in several front line stocks from across various sectors. Major sectoral indices are trading on a positive note note with stocks from the realty and infrastructure leading the gains. FMCG stocks are however trading in the red.

The BSE Sensex is trading higher by 124 points (up 0.5%) and the NSE Nifty is trading up by 46 points (up 0.6%). The BSE Mid Cap index is trading higher by 0.8% while the BSE Small Cap index is trading higher by 1.2%. Gold prices, per 10 grams, are trading at Rs 31,445 levels. Silver price, per kilogram, is trading at Rs 43,078 levels. Crude oil is trading at Rs 3278 per barrel. The rupee is trading at 67.74 to the US$.

Stocks in the auto sector are trading on a mixed note with Hero Motocorp Ltd and Tube Investments trading in green. As per an article in Business Standard, Ashok Leyland has made an impairment charge on its balance sheet of Rs 5.58 billion in 2015-16. It had also disposed of the shares in Ashok Leyland John Deere at a loss of Rs 2.33 billion.

It may be noted that in May 2008, Ashok Leyland and Nissan had formed three JVs for combined investment of Rs 10 billion. (Subscription Required). These companies are Ashok Leyland Nissan Vehicles Ltd (ALNVL), Nissan Ashok Leyland Power Train Ltd (NALPT) and Nissan Ashok Leyland Technologies Ltd (NALT). In 2014-15, Leyland said it had made an impairment provision of Rs 2.14 billion in the three Nissan JV entities.

The loss at ALNVL came down to Rs 619 million in 2015-16 from Rs 7.9 billion a year ago. NALPT's profit was Rs 719 million in 2015-16 as compared to a Rs 31 million loss a year before. NALT made a profit of Rs 50.5 million, as compared to a Rs 98 million loss a year before. Thus in all it contributed to a Rs 5.58 billion provision for diminution. In our recent edition of The 5 Minute WrapUp we have highlighted the disputes between Ashok Leyland and Nissan.

Ashok Leyland, in a letter to shareholders stated that it would progressively exit from non-core and non-performing businesses and focus on the core business. To know our view on Ashok Leyland, you can read our result analysis (subscription required).

The scrip of Ashok Leyland was trading up by 1% while writing.

Moving on to the news from pharmaceuticals sector. According to a leading financial daily, Piramal Enterprises has allotted 1,050 secured redeemable non-convertible debentures (NCDs) to raise Rs 1.05 billion under the second such tranche of fund raising. These NCDs shall be listed on the National Stock Exchange of India on a Wholesale Debt market segment.

The company also stated that it will raise up to Rs 10 billion through issuance of NCDs on a private placement basis in one or more tranches from time to time. The stock of Piramal is up 2.4%.

Piramal Enterprise Ltd is a conglomerate. The company's healthcare business contributes 54% to overall revenues. Financial services and information management contribute the 46% balance.

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

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Realty & Infrastructure Lead Gains". Click here!


Views on News

Inflation & Your Investments (Fast Profits Daily)

Mar 4, 2021

Inflation is the buzz word in the world of finance these days. It impacts all of us. Here's how it affects your investments.

What India's Positive GDP Reading Means for Your Equity Mutual Fund Investments (Outside View)

Mar 4, 2021

Given the risks involved, we may witness a sort of 'W-shaped' recovery wherein we would dip again before moving up, explains Rounaq Neroy in this edition of the Daily Wealth Letter.

I'm Back to Where It All Started (Profit Hunter)

Mar 4, 2021

Join us in welcoming research analyst, Aditya Vora, to Equitymaster.

Dollar at 80? (Fast Profits Daily)

Mar 3, 2021

Can the rupee depreciate to 80 against the US dollar? In this video, I'll show you what the charts say.

Motilal Oswal Asset Allocation Passive Fund of Fund: Aims to Benefit from Investing in Multi-Asset Passive Funds (Outside View)

Mar 3, 2021

PersonalFN analyses the features of Motilal Oswal Asset Allocation Passive Fund of Fund and explains the potential this fund has to offer to its investors.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Mar 4, 2021 (Close)