All major Asian stock markets have opened the day on a firm note with Japan (up 1.4%), Hong Kong (up 0.6%) and China (up 0.6%) leading the gains. The Indian share market indices have also opened the day on a positive note. Stocks in the consumer durables and information technology space are leading the gains. However, power and realty stocks are trading weak.
The Sensex today is up by around 28 points (0.1%), while the NSE-Nifty is trading flat. However, mid and small cap stocks are trading in the red with the BSE Mid Cap and BSE Small Cap indices down by around 0.5% and 02% respectively. The rupee is trading at Rs 60.65 to the US dollar.
Auto stocks have opened the day on a firm note with Ashok Leyland, Maruti Suzuki and TVS Motor Company leading the gains. As per a leading financial daily, India's leading passenger vehicle maker Maruti Suzuki has reported sales of 75,145 units during the month of July 2013, a growth of about 6% year-on-year (YoY). The growth in sales by the automaker comes against the backdrop of a prolonged slowdown in the auto industry and declining sales. Car sales in India had declined for a record 8 consecutive months until June 2013. However, it must be noted that Maruti's growth in sales is largely due to the lower base last year. Last year, the company's sales had been impacted due to the closure of the Manesar plant following labour unrest.
Oil & gas stocks have opened the day on a mixed note with Mangalore Refinery and Petrochemicals Ltd (MRPL) and Essar Oil trading firm. However, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) are trading weak. As per a leading daily, the proposal to allow the government to divest a 10% stake in state-run oil firm IOC has been approved by the Union Cabinet. Currently, the government holds 78.92% stake in IOC. At the current market price, the stock is likely to fetch the government Rs 38.4 bn. The five merchant bankers that have been selected by the disinvestment department to manage the stake sale include Citibank, HSBC, UBS Securities, SBI Capital and JM Financial. It is worth noting that the divestment is part of the government's plan to raise Rs 400 bn through stake sales in the current fiscal year 2013-14. So far, the government has raised about Rs 8.3 bn through sales in MMTC Ltd and Hindustan Copper.
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...
For the quarter ended December 2020, MARUTI SUZUKI has posted a net profit of Rs 19 bn (up 24.1% YoY). Sales on the other hand came in at Rs 222 bn (up 7.4% YoY). Read on for a complete analysis of MARUTI SUZUKI's quarterly results.
Here's an analysis of the annual report of MARUTI SUZUKI for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of MARUTI SUZUKI. Also includes updates on the valuation of MARUTI SUZUKI.
For the quarter ended June 2020, MARUTI SUZUKI has posted a net profit of Rs 2 bn (down 117.4% YoY). Sales on the other hand came in at Rs 41 bn (down 79.2% YoY). Read on for a complete analysis of MARUTI SUZUKI's quarterly results.
Here's an analysis of the annual report of MARUTI SUZUKI for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of MARUTI SUZUKI. Also includes updates on the valuation of MARUTI SUZUKI.
More Views on NewsLast time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.
In this video, I'll show you how to get started on the path to daily trading profits.
This could be the biggest wealth creator of the decade.
In this episode of the Investor Hour, India's #1 trader, Vijay Bhambwani, talks to us about the stock market, his new targets for gold and silver, the best long-term investment opportunity, and a lot more.
More
Equitymaster requests your view! Post a comment on "Indian share markets open in green". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!