Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Indian Indices Trade Marginally Higher; Pharma Sector Up 2.4%
Thu, 24 Aug 11:30 am

Stock markets in India are presently trading near the dotted line with positive bias. Sectoral indices are trading on a mixed note with stocks in the healthcare sector and IT sector witnessing maximum buying interest. Realty stocks are trading in the red.

The BSE Sensex is trading up 42 points (up 0.1%) and the NSE Nifty is trading up 12 points (up 0.1%). The BSE Mid Cap index is trading up by 0.5%, while the BSE Small Cap index is trading up by 0.4%. The rupee is trading at 64.06 to the US$.

In the news from telecom sector, shares of Reliance Industries were witnessing buying interest in the morning trades today. This was seen after the company's telecom arm announced that the pre-booking of JioPhone will start for Rs 500 across its retail stores, the website, and Jio App from 5 pm today.

The above development comes as another milestone for Reliance Jio. One shall note that the company has left no tables unturned to make its 4G venture a success.

The company wants to hit the ground running as reflected in the mouth-watering offer used as a bait to attract the maximum subscribers. The offer not only includes low cost Lyf phones, but lifetime free voice calls as well as ultra-cheap data plans and tariffs. As per the company presentation, the mobile phone data will be priced as low as Rs 50 per gigabyte (GB) which is not only the lowest in the country but also globally.

Jio's Data Pricing Disrupts the Telecom Apple Cart

While this huge price disruption will no doubt benefit the mobile phone users, we are not quite sure whether the pricing math will be sustainable for telecom companies in the long run.

At the time of writing, Reliance Industries share price was trading marginally lower.

Stocks from the liquor sector are witnessing buying interest today. This is seen as the Supreme Court gave its clarification that the liquor ban on highways did not apply to licensed establishments falling within municipal areas.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

United Spirits share price, Globus Spirits share price and Tilaknagar Industries share price rose in the morning trades today owing to the above development.

One shall note that overall, the liquor industry continues to flourish in India.

The industry has a large customer base with repetitive demand. It brings in a huge chunk of revenue for state governments. And various tailwinds such as rising incomes, a young population, and changing lifestyles bode well for the industry's future.

However, of late, the sector seems to be in a bit of a stupor. A complex regulatory environment coupled with a few other factors are taking the sector from bad to worse.

One major threat to liquor companies was the recent order passed by the Supreme Court of India. The apex court has ordered liquor vendors within a 500-metre radius of national and state highways to shut down from 1 April 2017.

The repercussions of the above development led shutting down many bars and restaurants. This will also reduce the revenues of state governments. It is also said to affect the travel and tourism sector, which includes bars and restaurants. And it will mean job losses for the employees of these establishments.

Most hurt were the liquor companies themselves. The ban meant less orders (at least for some quarters ahead, if not long).

These factors have weighed the growth of liquor industry and liquor stocks of late. And one must consider the regulatory risks when researching liquor stocks.

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

Equitymaster requests your view! Post a comment on "Indian Indices Trade Marginally Higher; Pharma Sector Up 2.4%". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Mar 16, 2018 (Close)