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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian Markets Trade in the Green
Fri, 18 Mar 11:30 am

After opening the day on a positive note, the Indian Markets have continued to trade in the green. Sectoral indices are trading on a positive note with stocks from the IT, metal and consumer durables sectors leading the gains.

The BSE Sensex is trading up 78 points (up 0.3%) and the NSE Nifty is trading up 29 points (up 0.4%). The BSE Mid Cap index is trading up by 0.1% while the BSE Small Cap index is trading up 0.2%. The rupee is trading at 66.56 to the US$.

Stocks in the telecom sector are trading on a mixed note with ADC India Communications and ITI leading the gains. As per Cellular Operators Association of India (COAI), GSM mobile operators added 72.5 lakh subscribers in the month of February. Post this, the overall user base in telecom space now stands at 768 million.

Bharti Airtel led the pack with maximum subscribers joining its network in the month of February. The company added 29 lakh customers to take its total user base to 248 million with 32.4% market share at the end of February. Vodafone, the country's second largest mobile operator, added 20.3 lakh subscribers to take its overall base to 196 million with 25.6% market share.

Idea Cellular subscriber base increased by 14.63 lakh to take its overall base to 174 million, with a market share of 22.7%. Aircel added 6.10 lakh subscribers and its base increased to 86 million, whereas Telenor added 2.50 lakh customers to take its base to 51 million at the end of February. State-run MTNL witnessed a growth of 10,704 subscribers, taking its overall base to 35.5 lakh.

However, Videocon Telecom lost 17,917 subscribers during the period and its base decreased to 67.3 lakh.

After been badly hit in 2012, the telecom sector has bounced back with a revival in subscriber additions. However, do telecom sector fare well on the investment front? Click here to find out (subscription required).

Stocks in the engineering space are trading on a mixed note with TRF leading the losses and Bharat Electronics leading the gains. In another news update, Blue Star is reportedly planning to build air conditioners (ACs) with air purifiers in collaboration with companies based in China and the US. Further, the company is also seeking technology from IIT Madras to come up with such products, which will be the first of its kind in India.

It shall also be noted that the company is setting up green-field plants for AC (air conditioners) and commercial freezers in Jammu and Sri City in Andhra Pradesh. The new facilities will add about 10 lakh units of capacity by 2020 to the company's existing 3.5 lakh unit capacity per annum.

The company's management stated that Blue Star is clocking a 12% growth rate, and enjoys a 10% market share (in terms of value) in the room AC segment, and 9.5% in terms of volumes.

Also, on a separate note, the company wants to garner a healthy share in the air cooler market in India with its new brand Windus Air coolers. For this, the company has started test marketing in Gujarat, Delhi and Telangana with four models.

Blue Star is India's leading central air-conditioning and commercial refrigeration company. The above developments point towards a pick-up in the financials for Blue Star in the near future. To know our view on the stock of the company, read our analysis of the third quarter results (subscription required).

Presently the stock of Blue Star is trading up by 0.8% on the BSE.

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

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Apr 21, 2017 (Close)

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