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 lose further ground
Tue, 20 Dec 01:30 pm

Indian stock markets plunged deeper into the red in the last two hours of the trade as selling persisted across index heavyweights. Barring FMCG, all sectoral indices were trading weak.

The BSE-Sensex is trading down 126 points and NSE-Nifty is trading down 43 points. BSE Mid Cap and BSE Small Cap indices are trading weak by 1.3% and 1.1% respectively. The rupee is trading at 53.03 to the US dollar.

Engineering stocks are mainly trading in the red led by Shanthi Gears and Jain Irrigation. As per a leading financial daily, Larsen and Toubro (L&T), that has been witnessing a significant order slowdown on account of policy paralysis in the country, might receive a boost as it hopes to bag new contracts. The company will be bidding for the construction of the new Abu Dhabi airport. The bids will be opened in December end. The company, along with consortium partners, expects to get contracts worth upto US$ 4 bn. The order would entail construction of airport terminal, runway, traffic control system, equipment handling and overall infrastructure building. In November last year, the company had bid for the Al-Salalah airport in Oman in partnership with Galfar Engineering and Construction. The company is facing tough times and has recently revised its order inflow target to 5% from the earlier guidance of 15%. It also expects margins to take a hit on account of inflation.

Stocks from the media sector are trading mixed with Fame India and Next Mediaworks leading the pack of losers and Network 18 Media leading the gainers. Broadcasting & cable television industry seems set to benefit from the recent parliamentary approval to digitize cable television. According to a leading business daily, digitization will be achieved across the country by 2014 in four-phases with the first phase envisaging the roll-out in metropolitan cities by June 2012. This will provide a fillip to Direct-to-home (DTH) services mode for digitization. Thus DTH service providers such as Dish TV, Airtel, Videocon, Sun TV, Reliance Big TV and Tata Sky will benefit. This is likely to trigger consolidation in the industry as players scramble to widen their subscriber bases. Apart from distributors even broadcasting companies like Zee Entertainment, which hitherto had been losing revenues from under-reporting of subscription numbers, are expected to see improved topline from higher transparency and technological backend to provide value-added services.

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 lose further ground". 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.