Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 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


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

Midcap & small cap, strong gainers
Mon, 21 Jul 01:30 pm

Indian share markets continued to trade strong in the post-noon trading session. Majority of the sectoral indices are trading in the green led by oil & gas and FMCG stocks. IT and metal are among the few stocks trading in the red.

BSE-Sensex is up 126 points and NSE-Nifty is trading 31 points up. BSE Mid Cap is trading 0.9% up and BSE Small Cap index is trading up by 1.3%. The rupee is trading at 60.22 to the US dollar.

Majority of the Finance stocks are trading in the green led by J M Financial and IIFL Holdings. As per a leading financial daily, Bajaj Finance wants to exit out of the construction equipment (CE) financing business on account of low profitability. The company had been cautious of the business for over 18 months. The company's CE portfolio is not very large and is expected to attain maturity over the next 15-20 months. Bajaj Finance has blamed low loan ticket size ranging at an average of Rs 18-19 lakh along with poor margins for the unattractive prospects of the CE financing. Even the gross non-performing assets ratio for CE business stood at 4.5% as compared to a ratio of 1.1% for the overall business. The company has also indicated that it may exit infrastructure lending segment due to lack of clearances for projects. Bajaj Finance's stock is trading up marginally.

Most of the auto stocks are trading in the green with Force Motors and Escorts being among major gainers. As per a leading financial daily, the Delhi government is contemplating to offer subsidy to car owners who want to switch to the electric mode using a specialized conversion kit. The retrofitted hybrid-electric kits can be used on vehicles not more than 2-3 years old. The amount of subsidy is still being worked out. This move comes in the backdrop of the Centre extending subsidy in this year's Budget under the National Mission on Electric Mobility program.

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 "Midcap & small cap, strong gainers". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms