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 drive markets up
Tue, 15 Nov 11:30 am

Indian stock market indices have been trading firm after opening the trade on a weak note. Auto and capital goods stocks are driving the gains while realty and power stocks are on the losing end.

The BSE-Sensex is trading up by 30 points and NSE-Nifty is trading down by 8 points. BSE Mid Cap and BSE Small Cap indices are trading lower by 0.9% and 1% respectively. The rupee is trading at 50.59 to the US dollar.

Automobile stocks are trading firm led by Tata Motors and Bajaj Auto. According to a leading financial daily, Mahindra & Mahindra (M&M) is planning to buy 27% stake in Swaraj Automotives. The company would be making an open offer to Swaraj shareholders. This will be to acquire 6,47,382 shares of Rs 10 each at an offer price of Rs 90 per share. The open offer is expected to be worth Rs 5.82 bn. Swaraj Automotives is a Punjab based company that manufactures automobile seats and recliners for tractors and other commercial vehicles and cars. It is listed on the Delhi stock exchange.

Engineering stocks are trading firm. Alfa Laval and Havells Ind are the biggest gainers. According to a leading financial daily, Bharat Heavy Electronics limited (BHEL) is thinking of setting up a power equipment fabrication plant in Maharashtra. The new plant to be located in Bhandara districts has received the in-principle approval from the board. Meanwhile, the PSU engineering company declared results for the quarter ended September 300, 2011. Net sales and net profits grew by 24% YoY each. The order book was worth Rs 161 bn at the end of September. It may be noted that the company has recently bagged contracts worth Rs 40 bn from Singareni Collieries Company for setting up 1200 megawatt power plant in Andhra Pradesh.

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 drive markets up". 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.