Monday, February 11, 2013

Breaking News of Indian stock market!

Yes, it is a war of the bourses now, with the country’s new stock exchange MCX-SX commencing trading of shares today. The volume was thin, though the challenge was building liquidity and winning market share against the two bourses, NSE and BSE.

While NSE saw its value of shares traded at 34.3 billion rupees, MCX-SX was at 1.5 million rupees. It is to wait and watch. Only time will tell!

What is breaking news in the Indian market, especially related to quarterly results, is Tata Power Company Ltd shares registering a third quarter loss, surprising investors and analysts at large. Yes, analysts expected a net profit of 2.7 billion rupees.

Cause of the loss was a blend of foreign exchange losses and higher finance and depreciation costs. Compared to profit generated at Rs. 2.98 billion rupees in December 2011, a net loss of 3.29 billion rupees in December 2012 is posted.

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