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?  

Metal, bank stocks elicit interest
Thu, 11 Jul 01:30 pm

Indian equity markets continued to trade strong during the post noon trading session. Barring stocks from consumer durables sector, all other sectors witnessed strong buying interest. Stocks from metal and banking sector were among the leading gainers.

BSE-Sensex is up by 368 points and NSE-Nifty is trading up by 112 points. While BSE Mid Cap is trading up by 0.80%, BSE Small Cap index is trading up by 0.59%. The rupee is trading at 59.90 to the US dollar.

Majority of the food stocks are trading in the green with ITC and Ruchi Soya Industries among major gainers. As per a leading financial daily, ITC is adopting a low carbon growth path by expanding its wind power generation capacity. The company has installed wind farms with over 70 MW capacity close to its facilities and is in the process of setting up 63 MW more. Presently, the contribution from renewable energy to the overall energy consumption for ITC is about 41%. The company wants to increase the share of renewable energy to over 50% over the next three years. Reportedly, ITC has invested over Rs 4 bn and is expected to invest a similar amount in setting up renewable energy projects in the country in future. The company has also reduced its overall power consumption across all business divisions in FY13.

Most of the Telecom stocks are trading in green with Acc networks and Bharti airtel are leading among the gainers. As per the financial daily, Bharti Airtel has sued telecom ministry for serving penalty notice to the company. The department of telecommunications (DoT) had received demand notice of Rs 6.5 bn. Reportedly, the company believes that the penalty charged is "devoid of any merit", and thus the department has no clear justification on the stated facts and in law. DoT said that it had found that the company was routing its national and international calls as local calls (SLD). The department had warned to stop carrying on the said act in 20013, however Bharti continued to do till 2005. This activity had caused loss to the government exchequer and state run Bharat Sanchar Nigam Ltd (BSNL) in 13 service areas. Bharti Airtel was trading up by 3.%

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 "Metal, bank stocks elicit interest". 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.