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?  

Sensex trades close to 28,000
Fri, 14 Nov 11:30 am

After opening in the green, the Indian indices are trading firm during the morning session. Broad based buying is being witnessed with metal and energy stocks leading the gainers. The healthcare index is trading in the red.

The BSE-Sensex is trading up 66 points. The NSE-Nifty is trading up 19 points. The BSE Mid Cap index is trading up 0.7% and the BSE Small Cap index is trading up 0.8%. The rupee is trading at 61.64 to the US dollar.

Indian pharma stocks are trading mixed. Orchid Chemicals and Dishman Pharma are the leading gainers in the pack, while Ranbaxy Laboratories and Cipla are among the leading losers. Sun Pharmaceuticals have declared September quarter results. The net sales grew by 13% YoY, led by growth in Taro subsidiary and Domestic formulations. The operating margins for the quarter stood at 44% v/s 45% in 2QFY14. The finance costs and depreciation zoomed up by 109% YoY and 60% YoY respectively, during the quarter. However, the taxes declined by 30% YoY compared to the previous year. Subsequently, net profits increased by 15% YoY for the quarter. Sun pharma is trading down by 1.3% at the time of writing.

Most telecom stocks are trading higher today. Tata Communication and Idea Cellular are leading the gainers. The logjam between the Defense Ministry and the Department of Telecom (DoT) regarding the issue of spectrum held by the former may soon end. The Communications and IT Minister Ravi Shankar Prasad will soon meet with newly appointed Defense Minister Manohar Parrikar to resolve the issue as per an article in a leading financial daily. With the spectrum auctions scheduled for Feb 2015, a resolution of this issue will go a long way to reduce the bidding intensity. The Defense Ministry holds a pan-India 15 MHz spectrum (in the 2,100 MHz band) which the DoT has asked for. In return, the Defense Ministry has asked for an equal 15 MHz spectrum (in the 1,900 MHz band) from the DoT which is currently reserved for CDMA players. A quick resolution of this impasse will enable an extra 5 MHz of spectrum for 3 telcos in each circle across the country to be put up for auction.

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 "Sensex trades close to 28,000". 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.