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 weak
Wed, 14 Dec 09:30 am

Most Asian stock markets have opened the day in the red with stock markets in Japan (down 0.5%), South Korea (down 0.4%) and Singapore (down 0.3%) leading the losses. The Indian stock markets have also opened the day on a weak note. Stocks in the consumer durables and power space are leading the losses. However, stocks in the capital goods and fast moving consumer goods sectors are trading firm.

The BSE-Sensex is trading lower by 32 points (0.2%), while the NSE-Nifty is down by around 13 points (0.3%). However, both the BSE Mid Cap and BSE Small Cap indices are trading flat. The rupee is trading at 53.67 to the US dollar.

Textile stocks have opened the day on a mixed note with Arvind Ltd and Alok Industries trading firm. However, Raymond and Grasim Industries are trading weak. Textile firm Arvind Ltd has announced a joint venture (JV) with Germany headquartered PD Fibre Glass Company in a bid to venture into glass fabrics in India. The JV firm, Arvind PD Glass Composites Pvt Ltd, will have equity participation by the two firms in the ratio of 51:49 respectively. It will cater to the requirements of energy, automotive and infrastructure sectors. According to a senior executive of the company, the new facility that is slated to come up at Santej (near Ahmedabad) with an investment of Rs 800 m will manufacture 30,000 tonnes of fabric after five years. The JV is expected to garner business worth Rs 2.5 bn in the first three years and to go up to Rs 5 bn by the fifth year. In a decade, Arvind aims to make its technical textiles business to about US$ 1 bn in size.

Power stocks have also opened the day on a weak note with National Power Thermal Corporation (NTPC), Adani Power and Tata Power trading in the red. NTPC has signed an agreement with Electricity Generation Company of Bangladesh (EGCB) for providing operation and maintenance services for the latter's 240 MW gas-based Siddhirganj power plant near Dhaka. As per NTPC's official statement, the services that it would offer to EGCB include operation and maintenance, recruitment and training, quality and environment management for a period of 6 years. The order is valued at about Rs 430 m. This is the largest single international order received by NTPC. The company has plans to expand its international footprint in the maintenance and operations space.

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 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.