X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 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
Investing in India? Get Equitymaster Research  
Indian share markets remain weak 
(Wed, 5 Feb 01:30 pm) 
 
Indian share markets pared early losses in the post-noon trading session, but are trading marginally below the dotted line. Barring FMCG, oil and gas and consumer durables, all the sectoral indices are trading in the green with auto, realty and power stocks being the biggest gainers.

BSE-Sensex is down marginally and NSE-Nifty is trading 4 points up. BSE Mid Cap is trading 0.3% up and BSE Small Cap index is trading up by 0.9%. The rupee is trading at 62.4 to the US dollar.

Majority of the power stocks are trading in the green with Adani Power and Torrent Power being the major gainers whereas Reliance Infa and JaiPrakash Power are among the few stocks trading in the red. As per a leading financial daily, Tata Power is contemplating keeping its annual investment of Rs 15 bn in renewable energy projects in-tact. The company's networth has been eroding due to its flagship coal-based project in Mundra that became unviable after Indonesia changed its coal export laws. Reportedly, the 4,000 MW supercritical project at Mundra has already booked impairment losses of Rs 25 bn. Tata Power has plans of adding 150-200 megawatts of wind and 30 mega watts of solar capacity each year. The company has a total capacity of 8,500 MW out of which 500 MW is from renewable sources. Tata Power has wind-based projects in Maharashtra, Tamil Nadu and Karnataka and will be looking at Madhya Pradesh and Andhra Pradesh as well. The company also has stake in a 240 MW geo-thermal energy project in Indonesia.

Majority of the Indian pharma stocks are trading firm with Elder Pharma and Ranbaxy Labs leading the pack of gainers. However, Ipca Labs and Orchid Chemicals are among the few stocks trading in the red. As per a leading business daily, Mylan has launched the world's first biosimilar version of breast cancer drug Trastuzumab, in India. The product marketed under the brand name HerTrazTM is a biosimilar of Roche's Herceptin. Hertraz was approved by the Drug Controller General of India. The product is available in two strengths 440 mg and 100 mg. Biocon will also be launching its biosimilar version of Trastuzumab this month. Trastuzumab is among the five biologic products that Mylan is developing in partnership with Biocon for the global market. The company has co-exclusive commercialization rights with Biocon for the product in India. Trastuzumab sales in India were estimated at around $21 m for CY12.

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

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian share markets remain weak". Click here!

  
 

S&P BSE OIL & GAS


Apr 21, 2017 (Close)

S&P BSE OIL & GAS 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS