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?  

Markets continue to trade weak
Mon, 12 Nov 01:30 pm

The Indian markets continued to trade below the dotted line, albeit in a range bound manner during the post non trading session. While stocks from the IT, banking and consumer durables are leading the pack of gainers, those from the metal, and oil and gas sectors are leading the pack of losers.

The Sensex today is trading lower by about 50 points (down 0.3%), while the NSE-Nifty is trading lower by about 10 points (down 0.2%). Stocks from the midcap and smallcap spaces are trading flat with the BSE Mid Cap and BSE Small Cap indices, each up marginally. The rupee is trading at 55.04 to the US dollar.

Stocks of construction companies are currently trading weak with Simplex Infrastructures and Nagarjuna Construction Corp. Ltd. trading weak. Midcap construction company IVRCL announced its results for the quarter ended September 2012 recently. The company's revenues declined by 5% YoY during the quarter. As expenses reduced at a slower pace, its operating profits fell by about 26% YoY. IVRCL's operating margins stood at 7% during the quarter as compared 9% during the quarter ended September 2011. Further, lower other income, coupled with higher interest costs led the company to report a loss at the profit before tax level. Losses stood at Rs 396 (net level) as compared to profits of Rs 81 m during the corresponding period last year.

Stocks forming part of the BSE-Auto index are currently trading weak with Hero Motocorp, Cummins India and Escorts leading the pack of losers. On the other hand, Ashok Leyland and Apollo Tyres are trading firm. As per a leading business daily, Ashok Leyland's management is looking at investing up to Rs 13 bn towards various plans. Also, the company's aim is to reduce the overall debt on books by Rs 3 bn by the end of this fiscal to levels of Rs 40 bn (currently Rs 43 bn). Till now, the company has already invested Rs 3.5 bn. Apart from investing Rs 6 to Rs 6.5 bn towards operations, the company plans to invest similar amounts in other business such as Rs 3 bn in Hinduja Foundries and in its joint venture with Nissan and John Deere.

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 "Markets continue to trade weak". 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.