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?  

Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Indian share markets inch upwards
Fri, 23 Aug 11:30 am

After opening in red Indian share markets have recovered a bit in the last two hours of trade. The sectoral indices are trading mixed with Consumer Durables and Auto leading the indices in green; while Teck and Metal continue to be in red.

BSE-Sensex is trading up by 16 points and NSE-Nifty is trading almost flat. BSE Mid Cap is trading up 0.59% and BSE Small Cap index is trading up 0.55%. The rupee is trading at 64.6 to the US dollar at the time of writing.

Most of the Engineering stocks are trading positive today. EMCO and BHEL are leading the gainers; while Everest Kanto and Punj Lloyd are leading the losers. Larsen and Toubro (L&T) in its AGM which was held yesterday stated that it is planning to form a new subsidiary 'L&T Technology Services'. The company plans to buy the engineering business of its subsidiary- L&T Infotech. After it transfers the engineering business of L&T InfoTech to its E&C division, the subsidiary will become a technology services company.

The management also reaffirmed that it will try its best to maintain its guidance of 20% increase in order inflow and 15 % growth in sales for the current financial year. L&T stock is trading up 0.34%.

Metal stocks are trading mixed today. Gujarat Mineral development and Jindal Steel and Power are leading the gainers while Hindustan Zinc and National Mineral Development Corporation (NMDC) are among the losers. The Finance Ministry has asked ministry of mines to speed up the Cabinet note on the stake sale in Hindustan Zinc (HZL) and Bharat Aluminium Company (BALCO). It has also proposed that stake sale should be done via the auction route. HZL and BALCO are erstwhile public sector firms that were sold to mining major Vedanta Resources during 2001-03. The government has a residual stake of 29.5% in Hindustan Zinc and 49% in BALCO. The divestment program could bring in over Rs 130 bn to the government. The government may have to obtain a no objection certificate from Vedanta for the auction sale.

The long pending stake sale of government's share in Hindustan Zinc (HZL) got delayed as the mines ministry's legal advisor had suggested that the ministry revisit all divestment related issues of HZL. As per a deal between the Government and Vedanta, the Anil Agarwal led company had the option to buy back the government's 29.5% stake in the firm. Vedanta had first offered Rs 172.75 bn for buying out remaining stake of the government in both Hindustan Zinc and BALCO. Vedanta had valued government's 29.5% stake at Rs 154.93 bn in Hindustan Zinc. However the company's board later sweetened the offer by up to 15% to about Rs 186.06 bn. As per the government plan, it will auction the shares and Vedanta will be given an opportunity to match it. Hindustan Zinc is trading lower by 2.5%

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 share markets inch upwards". Click here!

  

Related Views on News

L&T Announces Quarterly Results (3QFY21); Net Profit Up 5.1% (Quarterly Result Update)

Jan 28, 2021 | Updated on Jan 28, 2021

For the quarter ended December 2020, L&T has posted a net profit of Rs 26 bn (up 5.1% YoY). Sales on the other hand came in at Rs 356 bn (down 1.8% YoY). Read on for a complete analysis of L&T's quarterly results.

L&T 2019-20 Annual Report Analysis (Annual Result Update)

Aug 6, 2020 | Updated on Aug 6, 2020

Here's an analysis of the annual report of L&T for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of L&T. Also includes updates on the valuation of L&T.

L&T Announces Quarterly Results (1QFY21); Net Profit Down 63.9% (Quarterly Result Update)

Jul 30, 2020 | Updated on Jul 30, 2020

For the quarter ended June 2020, L&T has posted a net profit of Rs 6 bn (down 63.9% YoY). Sales on the other hand came in at Rs 213 bn (down 28.3% YoY). Read on for a complete analysis of L&T's quarterly results.

Siemens Soars 8% amid Strong Margin Growth. Can the Stock See More Gains? (Views On News)

May 12, 2021

A key highlight of Siemens' March quarter results was its robust operating performance.

Greaves Cotton Q4 Net Profit Soars 130% on EV Sales (Views On News)

May 5, 2021

The revenue of its e-mobility business grew 155% YoY to an all time high of Rs 680 m. Can it go higher?

More Views on News

Most Popular

The Next Smallcap Winners (Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Time to Buy Smallcaps? (Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

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 CAPITAL GOODS


May 12, 2021 (Close)

S&P BSE CAPITAL GOODS 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS