Goodluck India Limited (GOODLUCK) Declined -1.21% on Jun 19

June 19, 2018 - By Ash

Shares of Goodluck India Limited (NSE:GOODLUCK) last traded at 73.5, representing a move of -1.21%, or -0.9 per share, on volume of 722 shares. After opening the trading day at 73.95, shares of Goodluck India Limited traded in a close range. Goodluck India Limited currently has a total float of 22.67 million shares and on average sees 28,157 shares exchange hands each day. The stock now has a 52-week low of 64 and high of 142.5.

BSE & NSE: Asia’s Leading Stock Exchanges

India is one of the reasons that the Asian economy is immensely growing today. While its corporate sector’ representing about 14% of the national gross domestic product (GDP)’ is far smaller than that of the US’ representing about 70% of the national GDP, India has all the capabilities to remain as competitive as any other economy.

What Drives India’s Economy?

A nation’s equity market is very telling of its own success. In India, it is the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) that do the telling of the country’s economic prowess.

The BSE is the world’s 11th biggest stock exchange and also one of the fastest stock exchanges. As of January 23, 2015, it has a total market capitalization of $1.70 trillion. The BSE has a speed of six microseconds.

The SENSEX 30 is the benchmark index of the BSE. It weighs the 30 best-performing and most actively traded companies on the BSE with a base value of 100. Here, stocks are measured based on depth, floating-stock-adjustment depth, industry representation, liquidity, and market capitalization.

On the other hand, the NSE is owned and operated by the Indian Index Services and Products (IISP), supporting 230,000 terminals nationwide. Goodluck India Limited is a stock traded on the Indian stock exchange.

The NIFTY is the benchmark index of the NSE. It weighs the 50 best-performing and most actively traded stocks across 24 sectors on the NSE with a base value of 1,000. Consequently, it is a broader representation of the Indian corporate sector than the SENSEX 30.

Historical Feats

The BSE was established in 1875, bringing Asia its first stock exchange. It is also the first entity to be granted with a permanent acknowledgement under India’s Securities Contract Regulation Act of 1956.

On July 25, 1990, the BSE first reached a four-digit figure. On October 11, 1999, upon the victory of the Bhartiya Janta Party in the General Elections, it first reached the 5,000 mark. On February 6, 2006, it first reached the 10,000 mark. On December 11, 2007, shortly before the 2008 Global Financial Crisis, the BSE first reached the 20,000 mark. On January 21 and 22, 2008, it first lost more than 2,000 points in just two consecutive days.

On March 4, 2015, the BSE first reached the 30,000 mark. On August 24, 2015, it had once again recorded one of its worst sessions, losing 1,741 points after the devaluation of the Yuan. Chinese stocks had also fallen nearly 9% during that day, shaking the entire Asian market. Goodluck India Limited has relatively good liquidity.

Meanwhile, the NSE was established in 1992 as the first stock exchange in India with a fully electronic trading system. It paved way to the Indian equity market eventually embracing an electronic stock exchange platform, which is faster and more convenient’ thereby entirely improving trade and commerce in the country.

Evidently, the BSE and the NSE are two of the most successful stock exchanges in the world. It goes without saying that investing in India is associated with promising returns. Professional analysts might be interested how this will affect Goodluck India Limited.

Goodluck India Limited manufactures and exports a range of galvanized sheets and coils, towers, hollow sections, cold rolled coils, and pipes and tubes worldwide. The company has market cap of INR1.67 billion. It operates in two divisions, Pipe/Auto Tubes/Sheet/Structure and Engineering Goods. It has a 10.22 P/E ratio. The firm provides galvanized pipes, including welded tubes and pipes, hot dip galvanized pipes, black pipes, pre galvanized pipes, and casing and screen pipes; square and rectangular pipes, such as square, rectangular, and round hollow sections; and cold rolled coils and sheets, galvanized coils, galvanized Sheets, cold rolled close annealed, and pickling and oiling of HR coils, as well as related scrap and by-products.

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