X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 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
  • MyStocks

MEMBER'S LOGINX

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

Indian Markets Open Flat
Wed, 30 Dec 09:30 am

Major Asian stock markets have opened the day on a negative note. Stock markets in Hong Kong and Singapore are trading lower by 0.5% and 0.3% respectively. However, major stock indices in Europe and US ended their previous session on an encouraging note. The rupee is trading at 66.37 per US dollar.

Indian stock markets have opened the day on a flattish note. The BSE Sensex is trading higher by 25 points (up 0.1%) and NSE Nifty is trading higher by 10 points (up 0.1%). Both BSE Mid Cap and BSE Small Cap are trading higher by 0.2% and 0.1% respectively. Major sectoral indices have opened in the green with stocks from telecommunication and metal sector witnessing maximum buying interest.

As per an article in leading financial daily, HDFC Bank has cut its base rate by 5 basis points to 9.3%. The bank has brought its lending rate at par with State Bank of India. The latest rate cut by the bank will be applicable from 28 December. With the latest reduction in base rate, bank has reduced its overall base rate by 70 basis points since April. The management stated that the current reduction in the base rate won't have much impact on the banks margin. The margins have remained between 4.2-4.6%.

A pick up in credit growth is possible only when there is equal participation from the banks by way of passing on the reduction in the benchmark lending rates as set by the Reserve Bank of India. Reportedly, majority of banks have not passed on even half of the cut in the interest rates which happened during this calendar year.

As per an article in leading financial daily, Bharti Airtel acquired a 74% stake in Augere Wireless Broadband India. The deal was originally announced in August, since than Bharti Airtel was awaiting for regulatory clearance to make the acquisition.

Augere had bid for 2300 MHz band in Madhya Pradesh-Chhattisgarh circle in the 2010 auction and had won the same. Reportedly, Augere had won this spectrum during 2010, for Rs 1.25 bn. However it decided not to go ahead with the plan, citing uncertain regulatory condition. Ever since, company planned to sell its permit. Bharti purchased the stake with an intention to consolidate its 4G footprint across various regions. While the financial terms of the acquisition were not disclosed, according to various sources the deal size is estimated to be around Rs 1.5 bn. The capex requirement could rise significantly rise going forward, due to competition from RJio.

Bharti Airtel has already rolled out pan-India 4G services (in 334 towns) in 2QFY16, the first company to do so. The company also rolled out 3G services in the 2100 MHz band that it won in the auctions in March 2015. Bharti now has a pan-India 3G footprint (excluding Kerala). To know more about Bharti's capex plans and growth strategy, read on to our recent result analysis (Subscription required) on the company .

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

Equitymaster requests your view! Post a comment on "Indian Markets Open Flat". Click here!

  

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Nov 20, 2017 (Close)

MARKET STATS