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?  

Markets continue to trade flat
Wed, 28 Jul 11:30 am

The Indian indices continued to trade flat on profit booking in heavy weights during the last two hours of trade. Stocks from the auto and consumer durables space are trading firm, while stocks from the oil & gas and banking space are trading weak.

The BSE-Sensex is trading up by 10 points while NSE-Nifty is trading 4 points above the dotted line. BSE-Midcap index is trading up by 0.4% while and BSE-Smallcap index is trading 0.7% above yesterday's closing. The rupee is trading at 46.66 to the US dollar.

Hotel stocks are trading mixed with Hotel Leelaventure and Oriental Hotels trading firm while EIH Limited and Taj GVK are trading weak. Oriental Hotels declared its 1QFY11 results. The company's topline including contribution from its new Trivandrum property grew by 31% YoY. On a like-to-like basis the company's topline increased by 19% YoY. This was due to higher demand seen during the quarter. Operating profit margin remained flat during the quarter at 16.3%. The company's bottomline however increased by 186% YoY. This was due to higher other exceptional income registered during the quarter. The exceptional income consisted of compensation received by the company in connection with the surrender of lease on a plot of land. Excluding all onetime items, the company's bottomline grew by 18% YoY.

Engineering stocks are trading mixed with Cummins India and Welspun Corporation trading firm while Everest Kanto and Jain Irrigation are trading weak. As per a leading news daily, Praj Industries plans to set up three manufacturing plants this fiscal for its existing and new businesses. The company has plans to enter new verticals such as waste water treatment, customized equipment and heat exchanges for fertilizers, chemical, pharma and food & beverage industries. It plans to spend Rs 500 m on two plants for customized equipments which will be commissioned in this fiscal. With the commissioning of the first plant Praj's capacity will increase from 12,000 tpa to 15,000 tpa. The capacity expansion is likely to be funded internally as the company is sitting on a huge cash pile. As far as plans on waste water treatment are concerned the company is awaiting the results of a study by a global consulting agency. Right now Praj's order book is comfortably placed at Rs 7,000 m with 45% of the orders coming from the overseas market.

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 "Markets continue to trade flat". 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.