Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Sensex Trades Dull; Bank Stocks Lead Losses
Wed, 20 Dec 01:30 pm | Prasheel Vartak, TM Team

After opening the day in red, share markets in India witnessed choppy trades and are presently trading marginally above the dotted line. Sectoral indices are trading mixed with stocks in the banking sector and stocks in the power sector trading in red. While stocks in the realty sector are trading in green.

The BSE Sensex is up by 35 points (up 0.1%) and the NSE Nifty is trading up by 11 points (up 0.1%). Meanwhile, the BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 1%. The rupee is trading at 64.05 to the US$.

In news from stocks in the steel sector. Tata Steel share price is among the most active stocks in the markets today. The stock was down over 2% as the company's board approved to raise up to Rs 128 billion through rights issue to finance organic and inorganic growth plans.

The company said the board also approved a proposal to expand the capacity of Kalinganagar plant by 5 million tonne per annum (MTPA) to 8 MTPA with a total investment of Rs 235 billion. Tata Steel said the mode of finance for the work will be through a combination of debt and equity and the project configuration and costs includes investments in raw material capacity expansion, upstream and midstream facilities, infrastructure and downstream facilities including a cold rolling mill complex.

The company aims at completing the capacity expansion within 48 months from the date of commencement of construction. The total capacity of Tata Steel India operations following the expansion will be 18 MTPA. At present, Jamshedpur unit has a capacity of 10 MTPA and Kalinganagar has a 3 MTPA plant.

Just Released: Multibagger Stocks Guide
(2018 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

The board also reviewed the financial strategy of the company in the light of organic and inorganic growth strategy of the company and approved financial plan to raise capital for the plan.

The planned capacity expansion could be seen as a boon for spurring growth in the private sector.

The Indian economy is challenged by the abysmal capex in the private sector, and further waned by debt-ridden and cash-strapped sectors such as infrastructure and construction.

Consumer Driven Business Frontline Capex Growth

Consumption driven sectors, on the other hand, were relatively better-off as they witnessed an increase in investment opportunities backed by good demand. Resultantly, the companies operating in this sector recorded double-digit growth in their fixed assets or capex in the past one year. Sectors such as cement, tyres, auto ancillaries, and personal care registered robust double-digit growth in investments in the past one year.

Could the capex by Tata Steel be the beginning of a new capex cycle? We will be sure to keep an eye out.

In news from stocks in the banking sector. IndusInd Bank share price and Bharat Financial Inclusion (BFIL) share price are in focus today after the Competition Commission of India (CCI) approved the proposed amalgamation of the companies.

The Scheme remains subject to the receipt of approval from the Reserve Bank of India and other statutory and regulatory approvals, including the approvals of the Stock Exchanges, SEBI, the National Company Law Tribunal, and the respective shareholders and creditors of BFIL and the Bank.

The deal is seen as a win-win as both companies will gain competitive advantage, realise synergies, and better their financial performance in the medium-to-long term.

Post merger, the new entity will have 4,000 branches and outlets and 16 million customers. The appointed date for the composite scheme is January 1, 2018. BFIL, formerly SKS Microfinance, had a customer base of 68 lakh and loan portfolio of Rs 77 billion as of June 30.

The two financial firms had long been speculated to be interested in a deal. IndusInd Bank is India's sixth-largest private sector lender by assets and has a market value of about $16 billion, while Bharat Financial Inclusion, formerly known as SKS Microfinance Ltd, is valued at more than $2 billion.

The development comes at a time when Bharat Financial is facing stiff competition from banks, both universal and small finance banks.

At the time of writing, IndusInd Bank share price was trading down by 0.2%, while Bharat Financial Inclusion share price was trading up by 0.4%.

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

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex Trades Dull; Bank Stocks Lead Losses". Click here!


Stock Market Updates

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 0.9% (Today's Market)

May 7, 2021 01:12 PM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,188 (up 4.1%). The BSE POWER Index is up by 0.9%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 4.1%) and TORRENT POWER (up 0.3%). The top losers include BHEL (down 0.1%) and JSW ENERGY (down 0.2%).

Sensex Trades Marginally Higher, Dow Futures Up by 22 Points (Today's Market)

May 7, 2021 12:30 pm

BSE Sensex is trading up by 180 points, while the NSE Nifty is trading up by 70 points.

Sensex Gains 400 Points, Nifty Tops 14,850; Banking & Metal Stocks Rally (Today's Market)

May 7, 2021 09:30 am

Indian share markets open on a positive note. The BSE Sensex opened up by 405 points, while the Nifty is trading higher by 121 points.

TATA STEEL at All Time High; BSE METAL Index Up 2.5% (Today's Market)

May 7, 2021 09:34 AM

TATA STEEL share price has hit an all time high at Rs 1,147 (up 3.3%). The BSE METAL Index is up by 2.5%. Among the top gainers in the BSE METAL Index today are TATA STEEL (up 3.3%) and JSW STEEL (up 2.0%).

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 0.9% (Today's Market)

May 7, 2021 09:34 AM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,175 (up 2.7%). The BSE POWER Index is up by 0.9%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 2.7%) and SIEMENS (up 0.2%). The top losers include POWER GRID (down 0.5%) and THERMAX (down 0.7%).

ERIS LIFESCIENCES at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

May 7, 2021 09:34 AM

ERIS LIFESCIENCES share price has hit a 52-week high. It is presently trading at Rs 650. BSE 500 Index is up by 0.7% at 20,055. Within the BSE 500, ERIS LIFESCIENCES (up 7.0%) and IRB INFRA (up 5.3%) are among the top gainers, while top losers are VAIBHAV GLOBAL and SRF.

View More Indian Share Market News

Most Popular

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Sell in May and Go Away?(Fast Profits Daily)

Apr 28, 2021

Does the concept of selling stocks in the month of May, work in the Indian market?

This Fund Manager Has Taken the World by Storm. Will You Invest With Her?(Profit Hunter)

Apr 26, 2021

Should you invest with this Rockstar fund manager who has outperformed in a big way?


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


May 7, 2021 (Close)