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?  

Markets continue in the green
Mon, 29 Aug 01:30 pm

Indian stock market indices continue to trade firm over the last two hours of trade on the back of buying interest in heavyweights. All sectoral indices are in the green led by banking and technology stocks.

The BSE- Sensex is up by 447 points and NSE- Nifty is up by 132 points. BSE Midcap and BSE Small cap indices are up by 1.9% and 1.7% respectively. The rupee is trading at 45.86 to the US dollar.

Energy stocks are trading in the green led by Reliance Industries Ltd and Essar Oil. As per a leading financial daily, state run energy firms - IOC (Indian Oil Corp), GAIL (Gas Authority of India Ltd) and Indraprastha Gas Ltd. have alleged that private companies in city gas distribution (CGD) space have suppressed input costs and have bid aggressively to get licences to supply natural gas. These licenses would allow the private companies to distribute gas to households and automobiles. The regulatory board wants to expand natural gas usage to 300 cities, out of which GAIL wants to set up networks in 200 cities. The above mentioned state run firms have enjoyed a monopolistic position in the CGD space till now. They are now facing tough competition from the domestic and foreign firms such as BG group and the Adani group. In order to stall the private companies' plans to enter CGD, the state run firms have approached the Petroleum and Natural Gas Regulatory Board (PNGRB) regarding the unfair bidding.

GAIL has also questioned the awarding of pipeline projects to other companies. These developments have upset PNGRB's plans for next round of bids.

Realty stocks are trading in the green as well with IVRCL Ltd. and Welspun Projects Ltd. leading the sectoral gains. As per a leading financial daily, DLF Ltd is in talks with financial services firm IDFC to sell its 70% stake in DLF IT Park in Noida. The company's move to sell its 70% stake is a part of its strategy to exit non core areas. This move will help the company reduce its debt which stood at Rs 215 bn as on 30th June, 2011. As per industry sources, the company is looking to raise around Rs 9.5 bn through the sale. Recently, the company was slapped with a penalty of Rs 6.3 bn by the competition regulator for abusing its dominant market position.

The DLF IT park in Noida has a total of 1.3 million square feet (sq ft) space with Computer Sciences Corporation as the marquee tenant. The building is yet to reach full occupancy.

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 "Markets continue in the green". 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.