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?  

Energy and Engg weigh down markets
Wed, 20 Aug 11:30 am

After opening weak, the Indian Indices have remained below the dotted line in the morning session. Energy and engineering stocks are witnessing the highest selling pressure while pharma and IT stocks are trading in the green.

The BSE-Sensex is trading down 60 points. The NSE-Nifty is trading down 16 points. The BSE Mid Cap index is trading flat and the BSE Small Cap index is trading up 0.7%. The rupee is trading at 60.73 to the US dollar.

Telecom stocks are trading mixed today. While Tata Teleservices is leading the gainers; Idea Cellular is leading the losers. As per news reports, India's largest telecom firm, Bharti Airtel is in talks to sell its tower assets in Africa. It is believed that the company is in advanced stages of talks with American Tower Corporation (ATC) and Eaton Towers in a possible deal that could exceed US$ 1 bn. Last month, the company had sold 3,100 towers in Africa to Helios Towers Africa. The company has about 14,500 self-owned towers remaining in Africa. The company has a policy to reduce the debt on the balance sheet by selling its African tower assets. Bharti Airtel is trading down 0.3%.

Majority of Indian pharma stocks are trading in green with Orchid chemicals and Elder pharma being the leading gainers in the pack. MNC pharma stocks are trading mixed today. While Novartis India is leading the gainers; Sanofi India is leading the losers. As per a leading financial daily, there have been an increasing number of cases recently, where the court forbids the Indian companies from launching generic versions for patented drugs. This step by MNC pharma companies is taken to protect their branded products, generic launches before patent expiry by Indian domestic companies had impacted the revenues of these MNC pharma companies. The launch of Gleevec generic by Cipla Ltd is a classic case. The drug belonged to Novartis India however the patent was denied and hence the company had faced loss of revenues. Hence in order to safeguard their portfolio, the MNC pharma companies are filing litigations against the Indian companies before the drug is launched by using various intelligent tools to figure out as to which company is looking forward to launch the drug. This is in contrast to what they did till a few years back, where they sued generic drug firms only after the copies were brought to 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 "Energy and Engg weigh down markets". 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.