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 share markets open firm
Tue, 10 Sep 09:30 am

Barring Taiwan (down 0.4%), all major Asian stock markets have opened the day on a firm note with Indonesia (up 2.1%) and Japan (up 1.1%) leading the gains. The Indian share market indices have also opened the day on a positive note. Stocks in the banking and realty space are leading the gains.

The Sensex today is up by around 383 points (2%), while the NSE-Nifty is up by around 119 point (2.1%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 1.2% and 1.1% respectively. The rupee is currently trading at Rs 65.24 to the US dollar.

/Telecom stocks have opened the day on a firm note with Bharti Airtel, Mahangar Telephone Nigam Ltd (MTNL) and Idea Cellular leading the gains. As per a leading financial daily, the Telecom Regulatory Authority of India (TRAI) has proposed up to 60% reduction in the base price, or the minimum auction price, for mobile phone spectrum that will be auctioned in the near future. The reduction in base price has been a result of tepid interest from telecom companies in the previous two auctions. TRAI has recommended Rs 14.96 bn per MHz as the floor price for pan-India spectrum in the 1800 MHz band. This is a reduction of 37% from the March auction price of Rs 23.79 bn. For the 900-MHz spectrum, a reduction of nearly 60% in the base price has been recommended. Delhi's base price has been pegged at Rs 1.75 bn, down nearly 55% from its March levels. Mumbai's base price has been pegged at Rs 1.65 bn, nearly 57% lower.

Power stocks> have also opened the day on a firm note with Jaiprakash Power, Reliance Infra and JSW Energy leading the gains. As per a leading financial daily, India's largest power producer National Thermal Power Corporation (NTPC) has lost potential revenue of Rs 32 bn during the first five months of the financial year 2013-14 (FY14). On account of the lower demand from the state electricity boards (SEBs), the company was not able to supply almost 16 bn units of energy. This is a significant jump from 3 bn units in the previous fiscal. In other words, about 4,000-5,000 MW or 10-12% of the company's installed capacity is lying unutilized. It must be noted that most of the state utilities have cut down their demand owing to critical cash crunch. As such, they are unwilling to incur further losses by selling power cheaper than the cost price.

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 share markets open firm". 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.