X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Stock markets recover opening losses 
(Fri, 25 Nov 11:30 am) 
 
Indian stock market indices have recovered some of their opening losses and are now trading marginally weak. Among sectoral indices, capital goods and realty stocks are leading the gains while stocks from the IT and Oil and gas sectors are at the receiving end.

The BSE-Sensex is trading down by 22 points and NSE-Nifty is trading weak by 7 points. However, BSE Mid Cap and BSE Small Cap indices are trading up by 1.1% and 1.2% respectively. The rupee is trading at 52.21 to the US dollar.

Finance stocks are trading strong today. The gains are led by Power Finance Corporation (PFC) and Crisil. As per a leading financial daily, Infrastructure Development Finance Company (IDFC) is likely to increase its loan exposure to the transportation sector, diverting it from the troubled power sector. As per the management, the road sector is picking up well and is expected to offer better opportunities for the company. The company expects more than Rs 150 bn to Rs 200 bn worth of road projects to be bid out in the future. IDFC lends only to private players and will now be extra cautious in lending to this sector on account of the issues that will take time to resolve. The company presently is raising funds through retail long term infrastructure bonds and also aims to tap offshore market to get access to cheap funds in the wake of rising domestic interest rates. The company has a target to achieve 15% year on year credit growth. The stock was trading in the green.

Pharma stocks are trading firm. Ranbaxy and Orchid Chemicals are the top gainers. As per a leading financial daily, Ranbaxy Laboratories and the American authorities are close to a settlement regarding Ranbaxy's regulatory troubles in the US. The settlement is expected to be favourable for the company's launch of the low cost version of Lipitor (cholesterol lowering drug) scheduled next week. Back in 2008, an agreement between Ranbaxy and Pfizer allowed the former to launch the drug on November 30, 2011. However, in the same year, the US Food and Drug Administration (USFDA) had banned the company from selling 30 drugs and fresh products (from its two Indian plants) in the US since the company was found guilty of violating US manufacturing practices. Ranbaxy is expected to pay US$ 350 - 400 m as penalty to settle the issues with the regulator and also get approval to sell the generic version of Lipitor in the US market. The stock was trading in the green.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Stock markets recover opening losses". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 21, 2017 (Close)

MARKET STATS