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?  

Auto stocks lead markets higher
Mon, 4 Oct 09:30 am

The Indian markets have started today's session on a positive note. The benchmark indices opened above the breakeven mark and have stayed in the positive territory. Other key Asian markets are in the green with Hong Kong (up 1.4%) leading the pack of gainers. The US markets ended higher by 0.4% last Friday.

Currently in India, heavyweights from the BSE-Sensex are trading strong with auto majors attracting investors' interest. The BSE-Sensex is trading higher by around 230 points, while the NSE-Nifty is trading up by around 65 points. Buying interest is also being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.9% and 1% respectively. The rupee is trading at 44.41 to the US dollar.

Steel stocks have opened the day on a strong note. Gainers here include Bhushan Steel and Tata Steel. As per a leading business daily, Tata Steel has increased prices of its products by up to Rs 1,500 per tonne. In fact, other steel makers have also increased their prices recently. While SAIL hiked the prices by up to Rs 1,000 a tonne, JSW Steel and Essar Steel hiked rates by up to Rs 1,500 a tonne across different products. This is mainly on account of rising demand and rise in raw material cost. The demand for steel is especially strong from the auto sector which is likely to see a further boost during the upcoming festival season. Iron ore prices have gone up by up to about Rs 3,300 a tonne from Rs 1,900 a tonne earlier this year. Coking coal prices are also hovering in the range of US$ 200 a tonne as against US$ 125 a tonne last year.

Auto stocks have opened the day on a strong note. Gainers here include M&M and Bajaj Auto. As per a leading business daily, Maruti Suzuki's exports have now crossed the 800,000 units milestone. This is 23 years after it made its first shipment of 500 vehicles overseas. It may be noted that 25% of exports were accounted for by the flagship model A-Star. In FY11, the company has shipped about 76,000 vehicles so far, out of which about 54,000 units are A-Stars. The model was launched in European markets in February 2009. It is now being exported to about 100 countries. During the 23 years of export, 208,000 units of Alto and 202,000 units of M800 have been also been exported.

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 "Auto stocks lead markets higher". 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.