Of Rising Stock Markets, Economic Survey, and Top Cues in Focus Today

Tue, 30 Jan Pre-Open | Monish Vora, TM Team

   Previous Close   

   09:30 am   

   11:30 am   

   01:30 pm   

   Closing   

Share markets in India closed on a strong note yesterday.

At the closing bell yesterday, the BSE Sensex stood higher by 233 points (up 0.7%) and the NSE Nifty closed up by 61 points (up 0.6%).

Losses were however seen for mid-cap and small-cap stocks. The BSE Mid Cap index ended the day down by 0.7%, while the BSE Small Cap index ended the day down by 1.1%. Gains were seen across most of the sectors with stocks in the auto sector and IT sector leading the gains.

Top Stocks in Focus Today

Maruti Suzuki share price will be in focus today. The company's stock was among the top gainers on the bourses yesterday after the its board approved reducing royalty rates for new models. The new method will be applicable on all new models launched by Maruti Suzuki since January 2017, starting with the urban compact hatchback Ignis. Maruti Suzuki pays royalty for some of its products in Indian rupees, which protects the company's earnings from adverse currency fluctuations. In the December 2017 quarter, Maruti paid 5.3% of its net sales as royalty to its parent Suzuki Motor.

From the pharma space, market participants will be tracking Cipla share price. The company has received final approval for its Abbreviated New Drug Application (ANDA) for Tenofovir Disoproxil Fumarate Tablets, 300mg, from the United States Food and Drug Administration (USFDA).

Indian Hotels Co share price will also be in focus today. This comes as the company has announced that it is looking to enter the branded homes business. Reportedly, the company is in talks with Kathmandu-based Chaudhary Group (CG) to set up a residential project under the Taj brand in Colombo, where both the firms jointly own over 10 acres of land.

Just Released: Multibagger Stocks Guide
(2018 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Economic Survey 2017-18

From the macroeconomic space, India's economy is expected to grow by 7-7.5% in FY19, according to the Economic Survey 2017-18.

The survey, authored by chief economic adviser in the finance ministry Arvind Subramanian, said the economy is likely to grow at 6.75% in 2017-18 against 6.5% estimated by the Central Statistics Office (CSO).

The Survey said the major risk to India's growth story next fiscal could emanate from rise in crude oil prices in the international market, however, it expressed hope that recovery in investments, global investment, improved global growth outlook and stabilisation of GST will however help pick up the domestic economy.

The Survey also stated that the forthcoming Union Budget 2018 will have its focus on investments over savings and also that the policymakers will have their focus on employment, education, and agriculture.

Flat Debut for Newgen Software Technologies

In the news from the IPO space, Newgen Software Technologies made a flat debut on bourses yesterday. The scrip of the company, which recently concluded its IPO subscription offer, got listed at Rs 253, a premium of around 3% over its issue price of Rs 245.

Newgen Software Technologies is a software products company that offers a platform enabling organisations to rapidly develop powerful applications addressing their strategic business needs. Its platform comprises of Enterprise Content Management (ECM), Business Process Management (BPM) and Customer Communication Management (CCM).

To know more about the company, you can read our IPO analysis of Newgen Software Technologies Ltd (subscription required).

IPOs are all the rage in the share markets these days. With new companies listing by the day, all with promises of superior returns.

Download this FREE report now and discover How to Get Rich with IPOs. This guide will show you how to safely profit from the ongoing IPO rush.

GST Receipts Seen Rising in December

In the news from GST space, as per an article in the Economic Times, Goods and Services Tax (GST) receipts rose in December 2017, reversing the decline seen in the previous two months.

As per the data, the total collections for December rose to Rs 867 billion, as on January 24. Note that GST receipts had slipped to Rs 808 bn in November from more than Rs 830 bn in October and Rs 920 bn in September.

This bodes well as higher tax revenue receipt will help bolster the country's financials and also provide further ammunition for the government to spend on social welfare and providing additional infrastructure to its citizens.

How this will continue in the coming months remains to be seen. We will keep you updated on the developments from this space.

To get a balanced perspective on the entire GST saga, you can read Vivek Kaul's report - The Good, the Sad and the Terrible (GST).

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

Read the latest Market Commentary

Indian Share Market Update: Top Gainers and Losers

What else is happening in the markets today? Dig in...