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
Investing in India? Get Equitymaster Research  
Buying interest in smallcaps 
(Tue, 5 Jul 11:30 am) 
 
Indian stock market continued to trade in the red on the back of profit booking in heavy weights over the last two hours of trade. Stocks from the realty and power space are trading weak, while stocks from the auto and metals space are trading firm.

The BSE-Sensex is trading down by 58 points while NSE-Nifty is trading 19 points below the dotted line. BSE Midcap index is trading flat while the BSE Small cap index is trading 0.4% above yesterday's closing. The rupee is trading at 44.50 to the US dollar.

Telecom stocks are trading weak led by Idea Cellular and Himachal Futuristic. As per a leading financial daily, Bharti Airtel is considering 'debt push down' for its African business. It may be recalled that Bharti had raised a debt of US$ 8.3 bn to fund its acquisition of Zain's African business last year. This debt is foreign currency denominated and the recent swings in currency have impacted Bharti's debt negatively. To reduce the impact of currency fluctuations, the company is contemplating shifting a part of its debt from the books of the parent company to its subsidiaries. This will help pare down translation-related impact. However, on the flip side this move will result in higher cost of debt.

Auto stocks are trading firm led by Ashok Leyland and Tube Investments. As per a leading financial daily, Mahindra and Mahindra (M&M) is quite bullish on the scooters segment. As per the company's spokesperson, the scooter industry is seeing robust demand and is expected to grow in double digits this fiscal. It may be noted that the scooter industry which had been dead until a few years back is seeing a revival of sorts. Demand for scooters is coming from rural and semi-urban regions. M&M has ventured in the two wheeler segment recently. Other than scooters, the company has ventured into the motor cycle segment with a 125 cc engine model. Presently, M&M has a two wheeler manufacturing capacity of 500,000 units per annum and had sold 170,000 units last fiscal. This includes exports to South East Asia and African countries. M&M holds a 10% market share in the two wheeler segment in India.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Buying interest in smallcaps". Click here!

  
 

S&P BSE SENSEX


Jul 20, 2017 03:35 PM

MARKET STATS