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?  

Pharma, IT stocks lead the gains
Wed, 30 Sep 01:30 pm

After opening the day on a firm note, Indian indices continued to remain buoyant in the post noon trading session. Gains are being led by pharma, IT and metal stocks while banking stocks are trading negatively.

The BSE-Sensex is trading up 197 points (up 0.8%) and the NSE-Nifty is trading up 56 points (up 0.7%). The BSE Mid Cap index is trading up 0.9% and the BSE Small Cap index is trading up 0.8%. In commodity markets, Gold prices, per 10 grams, are trading at Rs 26,092 levels. Silver price, per kilogram, is trading at Rs 34,846 levels. Crude oil is trading at Rs 2,967 per barrel. The rupee is trading at 65.72 to the US$.

Stocks in the telecom space are trading positively with Idea Cellular and Bharti Airtel leading the gains. As per a leading financial daily, Idea Cellular has got its shareholders approval to raise up to Rs 100 billion through issue of non-convertible debt securities on private placement basis in one or more tranches. The same was approved in the company's 20th AGM held on Monday by way of approval of a special resolution. Idea Cellular is the leading GSM mobile services operator in India with over 72 million subscribers. The company's trailing twelve month (TTM) EPS stood at Rs 8.30 per share at the end of the June 2015 quarter. Presently the stock of Idea Cellular is trading up by nearly 5% on the BSE.

Most of the stocks in the pharma space are trading in the green with Torrent Pharma and Wockhardt witnessing maximum buying interest. International specialty pharma company Sun Pharmaceutical Industries has announced the commencement of a tender offer, for acquisition of all of the outstanding shares of InSite Vision. The offer has been commenced through the company's indirect wholly owned subsidiary - Thea Acquisition Corporation. The acquisition of outstanding shares of InSite Vision will be for US$ 0.35 per share in cash, without interest and less any required withholding taxes. To recall, Sun Pharma had on 16 September 2015, announced its intention to acquire InSite Vision. The scrip of Sun Pharmaceuticals Industries is trading up by 1.5%.

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 "Pharma, IT stocks lead the gains". 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.