X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 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
Investing in India? Get Equitymaster Research  
Mid and Small Caps in the limelight 
(Mon, 24 Sep 11:30 am) 
 
Indian equity markets continue to trade flat over the last two hours of trade. Power and realty stocks witnessed maximum buying interest while FMCG and IT stocks witnessed maximum selling pressure.

The Sensex today is up by 10 points, while the NSE-Nifty today is up by 6 points. BSE Mid Cap index and the BSE Small Cap index are up by 1.10% and 1.15%. The rupee is trading at 53.26 to the US dollar.

Energy stocks are trading in the red. Gas Authority Of India Ltd. (GAIL) and Oil and Natural Gas Corporation (ONGC) are the biggest losers while Gujrat State Petronet (GSPL) and Hindustan Petroleum Corporation Ltd (HPCL) are the biggest gainers. According to a leading financial daily, Bharat Petroleum Corporation Ltd. (BPCL) has allocated Rs 400-450 bn towards capital expenditure (capex) for the next four to five years. This allocation will be spent on upstream, refinery expansion and other infrastructure development. The company has also said that raising funds of this magnitude would not be a problem as BPCL has many discoveries and is already in talks with domestic banks. A consortium of domestic banks led by State Bank of India (SBI), is ready to lend and these will be dollar-dominated borrowings. The company has many gas blocks in Mozambique, 10 oil blocks in Brazil, and some oil and gas blocks in Indonesia, Australia, Britain, East Timor, and a shale gas project.

Auto stocks are trading strong led by Escorts and Maruti Suzuki. According to a leading financial daily, Hero MotoCorp Limited is planning to enter the retail finance business thereby enabling potential customers to purchase their products. The Munjal family owned company, already has a financing arm Hero FinCorp (formerly Hero Honda FinLease). Hero FinCorp supports some of its component suppliers and dealers by financing their working capital expenditure. The auto company is mulling providing dedicated easy loan options for its customers. Hero's peer Bajaj Auto too has a similar financing arm by the name of Bajaj Finance. We may note here that financing two wheeler purchases is a costly affair. Two-wheeler finance comes at a steep 22-24%, almost double that of the car segment.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Mid and Small Caps in the limelight". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 24, 2017 (Close)

MARKET STATS