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?  

Indian stock markets extend their gains
Wed, 17 Aug 11:30 am

Indian stock market indices continue to hold their gains. Stocks in the Technology space have witnessed the largest gains. However, Realty and Auto stocks are facing losses.

The BSE-Sensex is currently up by 209 points and NSE-Nifty is up by 60 points. However, BSE Midcap and BSE Small cap indices are down by 0.15% and 0.35% respectively. The rupee is trading at 45.34 to the US dollar.

Pharma stocks are trading in the green. Orchid Chemicals and Pharmaceuticals Ltd and Sun Pharma are the biggest gainers while Aurobindo pharma and Biocon Ltd are the biggest losers. According to a leading financial daily, production at Dr Reddy's Laboratories Srikakulam unit in Andra Pradesh has to come to a halt after around 600 workers went on strike seeking better wages. Talks were on between the management and workers union for some time, but they have now come to a stop. Although the production has not been affected much, there could be some disruptions if the strike intensifies. The unit at Srikakulam manufactures active pharmaceuticals ingredients (API) and has a capacity of 560 kilo litres per year. After the ban on sale of drugs by US Food and Drug Administration (FDA) on its Mexico unit this is the second such US FDA approved unit of the company to face such problems. Andra Pradesh government labor department may step n to resolve the matter.

Energy stocks are trading in the positive zone. ONGC and Gail India are leading the rally while Indian Oil Corporation and Cairn India are the only stocks in red. Meanwhile state run BPCL has announced results for the quarter ended June 2011. The company reported a 35% YoY growth in topline and a net loss of Rs 26 bn. The increase in topline was because of high market sales volumes which were up by 6% YoY during the quarter and export sales volumes which were up by 37% YoY. Both net profit margins and operating profit margins were down significantly. This was due to high cost of crude oil and under recoveries on the major petroleum products. Raw material costs increased by 37% YoY during the quarter ended June 2011.

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 "Indian stock markets extend their gains". 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.