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

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

  • MyStocks

MEMBER'S LOGINX

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

Indian markets continue to trade firm
Tue, 22 Jul 01:30 pm

Indian stock markets continued trade in the upward trajectory led by strong buying in the index heavyweights stocks during the previous two hours of trade. Except capital goods, all sectoral indices are trading in the positive territory. Energy and metals stocks are finding maximum buying opportunites.

The BSE-Sensex is trading up by 250 points and the NSE-Nifty is trading up 64 points. The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up 0.6% today. The rupee is trading at 60.23 to the US dollar.

Most energy stocks are trading firm today led by Reliance Industries and Gujarat Gas, whereas Petronet LNG is trading weak. As per a leading business daily, Gas Authority Of India Ltd. (GAIL), which had earlier resisted plying Indian made LNG importing vessels, has agreed to allow indigenously made vessels in its USD 7.5 bn 20 years LNG importing plan as per the government stern direction. The earlier resistance was mainly due to the India lacking experience and technical competence in building highly specialized vessels. Also in case of delay in the delivery of ships, GAIL will have to pay billion dollars of penalty and liabilities to the seller in the US as well as gas buyers back home. The company has issued tender offer to hire nine newly build LNG ships in a lot of three ships each. And in each lot one ship will be built in India which will get delivery time of 6 years as compared to 3 years for foreign shipbuilders. This move is likely to boost the Indian shipping industry. Gail stock is trading up by 0.5%.

All steel stocks are also trading firm except Tata Steel, which is trading marginally lower. Tata Steel plans to raise up to USD 3.2 bn for repayment of debt and capital expenditure for its new plant in Odisha. For this, the company has already started the process of raising foreign currency debt. The fund raising is supposed to be in a combination of bonds and loans. The company has to repay debt worth about Rs 37 bn in 2014 and Rs 297 bn in 2015. As of FY14, the company has net debt of Rs 705 bn with debt to equity ratio of 1.9 times. The company raised huge debt earlier to fund its acquisition in the midst of slowdown in its European business.

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 "Indian markets continue to trade firm". Click here!

  

Related Views on News

GAIL 2019-20 Annual Report Analysis (Annual Result Update)

Nov 20, 2020 | Updated on Nov 20, 2020

Here's an analysis of the annual report of GAIL for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of GAIL. Also includes updates on the valuation of GAIL.

GAIL Announces Quarterly Results (1QFY21); Net Profit Down 80.2% (Quarterly Result Update)

Sep 1, 2020 | Updated on Sep 1, 2020

For the quarter ended June 2020, GAIL has posted a net profit of Rs 3 bn (down 80.2% YoY). Sales on the other hand came in at Rs 121 bn (down 34.0% YoY). Read on for a complete analysis of GAIL's quarterly results.

GAIL Announces Quarterly Results (4QFY20); Net Profit Up 168.9% (Quarterly Result Update)

Jun 25, 2020 | Updated on Jun 25, 2020

For the quarter ended March 2020, GAIL has posted a net profit of Rs 30 bn (up 168.9% YoY). Sales on the other hand came in at Rs 178 bn (down 5.4% YoY). Read on for a complete analysis of GAIL's quarterly results.

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...

More

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

S&P BSE OIL & GAS


Mar 3, 2021 (Close)

S&P BSE OIL & GAS 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS