Indian Indices Continue Momentum; Healthcare Sector Up 1.6%

Mon, 8 Jan 11:30 am

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Stock markets in India are presently trading on a positive note. Barring the telecom sector, all sectoral indices are trading on a positive note with stocks in the realty sector and healthcare sector witnessing maximum buying interest.

The BSE Sensex is trading up 211 points (up 0.6%) and the NSE Nifty is trading up 61 points (up 0.6%). The BSE Mid Cap index is trading up by 0.9%, while the BSE Small Cap index is trading up by 0.8%. The rupee is trading at 63.35 to the US dollar.

In the news from macroeconomic space, as per the RBI data, credit growth grew in double digits to 10.65% YoY at Rs 80,967 billion in the fortnight ended December 22, 2017.

The growth was mainly supported by the base effect. As per the data, the advances had stood at Rs 73,173 billion in the fortnight ended December 23, 2016.

The recently released Financial Stability Report showed that the credit growth of scheduled commercial banks, on a YoY basis, increased from 4.4% to 6.2% between March and September 2017, while public-sector banks' (PSBs) credit growth increased from 0.7% to 2.2% during the same period.

Note that credit off-take stood at a decade low of 5.1% in FY17 compared to 10.7% a year ago, as can be seen from the chart below:

Credit Growth at Lowest Levels in a Decade

The government infusion in PSBs is said to bring in the needed funds and further lead to an improvement in the credit growth this year.

It would be interesting to see how the above trend pans out. We'll keep you updated on the developments from this space.

In the news from the IPO space, Apollo Micro Systems is going to launch its IPO this week. The offer will be open from 10^th January till 12^th January and the company intends to raise Rs 1.5 billion from its public offering.

The price band of the IPO is finalised at Rs 270 to Rs 275 per share.

Apollo Micro Systems Ltd is Hyderabad based company engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply. The company designs, develops and sells high-performance, mission and time critical solutions to Defense, Space and Home Land Security for Ministry of Defense, government controlled public sector undertakings and private sectors.

The company offers custom built COTS (commercially off-the shelf) solutions based on specific requirements to defense and space customers.

We are tracking this IPO and will shortly release our analysis on the company. Stay tuned.

Speaking of IPOs, the demand for IPO's has reached sky-high levels lately. Avenue Supermarts was the first company last year to cross the 100-time subscription mark swiftly followed by CDSL and Dixon technologies.

This euphoria is something similar to what was seen in 2007-08. When everyone around you is clamoring to get a piece of the IPO pie, it makes sitting tight difficult. And, why should you sit tight when stocks like Avenue Supermart lets you pocket a cool 100% gain from day 1 of the listing?

History suggests that these cases are few and far between. More than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

A merit-based selection primarily including valuation, business, and management quality is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often than not.

To know more, you can download our FREE report - How to Get Rich with IPOs. This guide will show you how to safely profit from the ongoing IPO rush.

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

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