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?  

Flat with negative bias
Tue, 13 Jul 11:30 am

After starting today’s session on a volatile note Indian indices have been lingering in the red. Other key Asian markets are also marginally in the red. Stocks from oil & gas and realty space are trading strong while stocks from IT and FMCG space are in the red.

The BSE-Sensex is trading down by around 22 points, while the NSE-Nifty is down by about 9 points. However, buying interest is being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.5% and 0.6% respectively. The rupee is trading at 46.87 to the US dollar

As per leading news daily, Infotel Broadband Services Pvt Ltd, a vehicle of Reliance Industries Ltd (RIL), may opt for WiMax as the core technology to offer broadband services. After RIL acquired 95% stake in Infotel it was expected that the company would tilt towards Long Term Evolution (LTE) to offer broadband services. It should be noted that right now all the telecom operators are trying to choose between WiMax and LTE as a core technology for offering broadband services. RIL is planning to adopt a technology that can alternate between WiMax and LTE. Right now global hardware suppliers are eyeing RIL’s move so that they can tender their bids accordingly. In India, where broadband penetration is less than 1% and the subscriber base is a mere nine million, huge opportunity awaits Indian players and the right technology can make the growth that much faster.

Pharma stocks are trading mixed with Dishman Pharma and Aurobindo Pharma leading the gainers. According to a leading business daily, after amassing over US$3.2 bn (around Rs 130 bn) from the sale of its domestic formulations business Piramal Healthcare is likely to sell its medical diagnostics business next. The buyer this time is likely to be Super Religare Laboratories, owned by Malvinder Singh. In 2008 he had struck a deal with Daiichi (Japan) by selling a majority stake in Ranbaxy Laboratories for US$ 4.6 bn (around Rs 215 bn). This news has however not been confirmed by Piramal Healthcare.

At the end of FY10, the diagnostics business reported sales of Rs 2.1 bn. The profits of the business are however not disclosed. The question however remains as to how Piramal plans to utilize the cash accumulated from the sale of these businesses.

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 "Flat with negative bias". 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.