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?  

IT boosts Indian stock markets
Tue, 13 Sep 09:30 am

Asian stock markets have opened the day on a mixed note. Stock markets in Indonesia (up 0.4%), Japan (up 0.2%) and Singapore (up 0.1%) are trading in the green while China (down 1.4%) is in the red. The Indian stock market have opened the day on a firm note. Stocks in the IT and Realty space are leading the gains.

The BSE-Sensex is trading higher by 175 points (1%) and the NSE-Nifty is higher by around 50 points (1%). BSE Midcap and BSE Small cap stocks are trading in the green as well, with the BSE Mid Cap and BSE Small Cap indices up by 0.7% and 0.5% respectively. The rupee is trading at 47.21 to the US dollar.

Auto stocks have opened the day on a firm note with Bajaj Auto and Hero Motocorp in the green while Tata Motors in the red. Maruti Suzuki India will start recruiting new permanent employees for its Manesar plant. This will be to replace the existing workers who have refused to sign the 'good conduct' bond. Maruti has alleged that the workers deliberately compromised on quality of cars produced from the plant. As a corrective action, the company asked the employees to sign a good conduct bond before entering the premises of the factory. Most of the workers went on strike refusing to sign the bond. These workers have been absent from the plant for the last two weeks. The company on the other hand is firm on its stand that it will only allow those workers to resume duty who will sign the Good Conduct Bond. In all, only 95 workers have signed the bond. Maruti has now decided to bring down the dependence on permanent workers who are refusing to sign the said bond.

Pharma stocks have opened the day on a firm note with Lupin and Ranbaxy in the green while Sun Pharma and Torrent Pharma in the red. Wockhardt in the shareholders meeting said that it has significantly reduced the employees working at its Negma operations in France. It added that the Negma plant has been divested. The management has also stated that the France business has been restructured and the number of employees has now been reduced from 470 to 75. The plant was divested as a part of the "safeguard proceedings". After the debt problems surfaced for Wockhardt, the France operations were placed under safeguard proceedings that helped the company reorganize its business in the country to be viable. Wockhardt had acquired Negma for US$ 265 m back in 2007.

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 "IT boosts Indian stock 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.