Key Q3FY19 Results, Chalet Hotels IPO, and Top Stocks in Action Today

Tue, 29 Jan Pre-Open

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   09:30 am   

   12:30 pm   

   Closing   

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

The BSE Sensex closed lower by 369 points to end the day at 35,657. Yes Bank and Bajaj Finance were among the top losers.

While the broader NSE Nifty ended down by 119 points to end at 10,662.

Among BSE sectoral indices, healthcare stocks fell the most by 2.1%, followed by finance stocks and auto stocks.

Top Stocks in Focus Today

Dr Reddy's share price will be in focus today as the USFDA has completed audit at Dr. Reddy's Laboratories' API manufacturing plant at Miryalaguda in the state of Telangana. The company has been issued with one observation.

Tata Motors share price will be in focus today as Tata Motors' wholly owned subsidiary-Jaguar Land Rover (JLR) has planned to halt production for a week at its UK plants in April due to Brexit-related disruption.

The temporary production stand-down would take place between April 8 and 12 and affect all three of Jaguar Land Rover's UK car plants, as well as its engine plant.

Market participants will also track Tata Power share price.

Tata Power company's wholly-owned subsidiary-Tata Power Solar has launched a complete residential rooftop solution in Bangalore in the state of Karnataka. The residential rooftop solutions are expected to save up to Rs 50,000 annually for 25 years.

Results Corner

Canara bank has reported around 3-fold jump in its net profit at Rs 3.2 billion for the quarter under review as compared to Rs 1.3 billion for the same quarter in the previous year.

Total income of the Bank increased by 9.5% at Rs 135.1 billion for Q3FY19 as compared Rs 123.4 billion for the corresponding quarter previous year.

Escorts has reported a rise of 52.3% in its net profit at Rs 1.4 billion for the quarter ended December 31, 2018 as compared to Rs 0.9 billion for the same quarter in the previous year.

RBL bank has reported 36.2% rise in its net profit at Rs 2.2 billion for the quarter under review as compared to Rs 1.6 billion for the same quarter in the previous year.

Larsen & Toubro has reported strong set of earnings for the quarter ended December 2018 as profit grew by 37% year-on-year to Rs 20.4 billion, driven by strong revenue growth and operational performance.

Revenue from operations in Q3 increased by 24.2% to Rs 357.1 billion on strong execution in project businesses.

International revenue during the quarter at Rs 114.8 billion constituted 32% of the total revenue, was lower than 35% in the previous year.

To know more about the company, you can access to L&T's latest result analysis and L&T's 2017-18 Annual Report Analysis on our website.

You can also read our recently released Q3FY19 results: Reliance Industries, Federal Bank, Infosys, TCS, Trident, HDFC bank, Maruti Suzuki, DHFL, Gruh Finance.

From the Commodity Space...

In the news from the commodity space, oil fell 1% on Monday after US companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest gain in the month of January for 14 years.

The ongoing trade dispute between the United States and China looks unlikely to end any time soon and the impact of the dispute on the Chinese economy is increasing.

Market participants also remained focused on developments in Venezuela, where popular opposition leader Juan Guaido called for more public protests and the country's top military envoy to the US defected from the government.

Prices have increased 12% so far in January, the largest increase in percentage terms in the first month since 2005.

From the IPO Space...

In the latest developments from the IPO space, Chalet Hotels will be launching its initial public offering (IPO) today and will close on January 31, 2019, with a price band of Rs 275 - Rs 280 per equity share of face value of Rs 10 each.

Chalet Hotels is an owner, developer and asset manager of high-end hotels in key metro cities in India. Its hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of 31 March 2018.

The company generally develops its hotels in strategic, high density locations on large land parcels, allowing it to situate a greater number of rooms, as well as provide a wide range of amenities, such as, fine dining and specialty restaurants, large banquet and outdoor spaces.

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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