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?  

Indian stock markets open flat
Tue, 9 Dec 09:30 am

Asian stock markets have opened on a mixed note with stock markets in China up 1.2% and Japan down 0.3%. The Indian stock markets have opened the day on a flat note. The stocks from power and metal sector were leading the losses while stocks in the software and pharma sector were trading firm.

The Sensex today is down by around 20 points, while the NSE-Nifty is down by about 16 points. The mid cap and small cap stocks have also opened flat with BSE Mid Cap index and BSE Small Cap index up by around 0.1% each. The rupee is currently trading at Rs 61.92 to the US dollar.

Indian pharma stocks have opened the day positive note. As per the financial daily, the competition commission of India (CCI) has finally cleared US $ 4 bn deal between Sun pharmaceuticals and Ranbaxy laboratories. However the regulator has put some conditions to it. The CCI has asked both the companies to sell 7 brands which could have adverse effect on the competition, post merger. Consequently, the regulator has given 6 months time for the divestment process. The 7 brands that are supposed to be divested are of less than Rs 500 m. Among these 7 products, Sun has to divest a product, Tamsulosin Plus Tolterodine which is worth Rs 30 m. While, Ranbaxy has to divest 6 brands worth Rs 300 m, the biggest brand among these is Eligard. In all these brands the companies have market share of above 50-60%, and thus CCI has directed to divest them. Since these brands have good market share, we expect both the companies will be able to sell them at premium valuations.

Automobile stocks have opened the day mixed note. As per a leading financial daily, Tata motors has launched a variant of its leading selling brand, Jaguar land rover (JLR) - Jaguar XF. The car is priced at Rs 45.12 lakhs (ex-showroom). The Executive Edition of Jaguar XF is powered by a 2.2 litre diesel engine and comes with a range of features including eight speed automatic transmission and navigation system. As per the vice president Rohit Suri, the new brand will give access to wider audience. Tata Motors has opened up by 0.5%.

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 "Indian stock markets open flat". 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.