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Key Q3FY19 Results, Xelpmoc Design IPO, and Top Stocks in Action Today
Wed, 23 Jan Pre-Open

On Tuesday, share markets in India traded on a negative note throughout the day and ended marginally lower after a volatile day of trading.

The BSE Sensex closed lower by 134 points to end the day at 36,445. Vedanta and Tata Steel were among the top losers.

While the broader NSE Nifty ended down by 39 points to end at 10,923.

Among BSE sectoral indices, metal stocks fell the most by 2.3%, followed by telecom stocks and auto stocks.

Top Stocks in Focus Today

Zensar Technologies along with Zensar Information Technologies and Zensar Software Technologies (being wholly owned subsidiaries of the company) has entered into definitive agreements for sale of 100% of the share capital of these wholly owned subsidiaries to Lorhan IT Services, having its registered office at Hyderabad, India.

Alembic pharma share price will be in focus today as the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Desvenlafaxine Extended-Release Tablets, 25 mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), PRISTIQ Extended-Release Tablets, 25 mg of Wyeth Pharma. Desvenlafaxine Extended-Release Tablets, 25 mg are indicated for the treatment of major depressive disorder (MDD).

InterGlobe Aviation share price will also be in focus today as the airline reported the Passenger Load Factor (PLF) of 88.9% during the month of December 2018. The company had reported PLF of 84.9% during November 2018.

The PLF is a key indicator of the company's performance, as it measures the average % of seats filled on airline's aircraft fleet.

Market participants will track UFO Movies share price.

NCLT dismissed the petition for the approval of scheme of amalgamation, filed jointly by the company and PJSA before the NCLT for the approval of the scheme.

Results Corner

Reliance Nippon has reported a fall of 13.7% in its net profit at Rs 1.1 billion for the quarter under review as compared to Rs 1.27 billion for the same quarter in the previous year.

TVS Motor has reported 15.6% rise in its net profit at Rs 1.8 billion for the quarter ended December 31, 2018 as compared to Rs 1.54 billion for the same quarter in the previous year.

Shree Cement has reported its net profit for December quarter at Rs 3 billion against Rs 3.3 billion for the same quarter, last year. The revenues rose 21% at Rs 27.8 billion against Rs 23 billion last year.

Wipro on Friday posted a strong 31.8% YoY jump in its consolidated net profit at 25.4 billion and announced a 1:3 bonus share offer.

To know more about the company, you can read Wipro Q3FY19 Result Analysis and Wipro Annual Report Analysis on our website.

You can also read our recently released Q3FY19 results: Zee Entertainment's latest result analysis, Reliance Industries, Federal Bank, Infosys, TCS, Trident, HDFC bank, NIIT Technologies, Cyient.

From the IPO Space...

In the latest developments from the IPO space, Xelpmoc Design and Tech will be launching its initial public offering (IPO) today and will close on January 25, 2019, with a price band of Rs 62 - Rs 66 per equity share of face value of Rs 10 each.

The company provides professional and technical consulting services, offering technology services and end-to-end technology solutions and support.

Its clients range from entrepreneurs and start-up enterprises to established companies, engaged in e-commerce, transportation and logistics, recruitment, financial services, social networking, and various other industries.

The Company proposes to utilize the net proceeds of the issue for the purchase of IT hardware and network equipment's for development centers in Kolkata and Hyderabad, purchase of fit outs for new development centers in Kolkata and Hyderabad, funding the working capital requirements of the company, and general corporate purposes.

In 2018, the markets regulator approved 71 IPO proposals as compared to 46 in 2017.

Speaking of IPO's, according to an article in The Economic Times, Indian stock exchanges ranked second globally in terms of IPOs, raising US$ 5.52 billion from 161 offerings till November this year. The US ranked first, raising US$ 60 billion from 261 IPOs.

Here's an excerpt from the article:

  • According to the report, the drop in IPOs could be attributed to reasons such as significant corrections in the stock markets in mid-cap and small-cap stocks.

    Further, the amount of volatility has increased due to uncertainties around global growth compounded by the ongoing US-China trade wars.

    In addition, there are a number of macroeconomic factors which are contributing uncertainties such as liquidity crises among non-bank lenders in India triggered by defaults done by a leading infrastructure finance company IL&FS and currency volatility (depreciation of the rupee), the report added.

With so many IPOs set to hit the markets, we at Equitymaster believe 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.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

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

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