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Bank of England Monetary Policy; Key Q3FY19 Results and Top Stocks to Watch Out for Today
Fri, 8 Feb Pre-Open | Rini Mehta, TM Team

On Thursday, the Indian share markets settled on a flat note on Thursday even as the Reserve Bank of India (RBI) cut the repo rate by 25 basis points (bps) to 6.25% in its bi-monthly monetary policy meeting.

The BSE Sensex ended at 36,971, down 4 points, while the Nifty50 index settled at 11,069, down 7 points.

Among sectoral indices, the Nifty Auto index ended nearly 2% higher led by gains in the share prices of Ashok Leyland and Apollo Tyres.

Top Stocks in Focus

Cadila healthcare share price will be in focus today as the company has reported a rise of 18.6% in its net profit at Rs 3.6 billion for third quarter ended 31 December 2018 as compared to Rs 3.1 billion for the same quarter in the previous year.

Meanwhile, Grasim Industries reported a rise of 28.3% in its net profit at Rs 6.1 billion for the quarter under review as compared to Rs 4.7 billion for the same quarter in the previous year.

Mahindra Lifespace Developers (MLDL) has executed an agreement to acquire approximately seven acres of land in Pune. This is as part of company's pursuit to acquire land for business growth. The stock will hog limelight today.

Sun Pharma will be watched out for today after its arm Taro Pharma reported a big jump in net profit.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Results Corner

Market participants will track Avanti Feeds, Dilip Buildcon, M&M, Nalco, NHPC, Tata Steel, UCO Bank among others as they announce their December quarter results today.

Global Stock Market Drivers

Stocks in Europe edged lower alongside US index futures after a mixed session in Asia as signs emerged that the global rally in equities is stalling.

Investors face a lack of fresh impetus to extend the 2019 rally in risk assets ahead of meetings between China and the US to discuss trade next week.

In Washington, there was little progress on the domestic front with the deadline approaching for Congress and the White House to reach a deal on keeping the government open.

Asian traders remain constrained by a lack of activity as many markets remained shut for Lunar New Year.

Among key events to watch out for is the Bank of England's policy outcome.

Oil Prices Slide

Oil prices fell on Thursday after US crude inventories rose and as production levels in the country held at record levels. But OPEC-led supply cuts and Washington's sanctions against Venezuela supported markets.

US West Texas Intermediate (WTI) crude futures were at US$53.84 per barrel, down 0.3%, from their last settlement.

International Brent crude oil futures were down by 26 cents at US$62.43 per barrel.

From the IPO Space...

Chalet Hotels debuted at Rs 291 on the BSE, up by Rs 11 or 3.9% from its issue price of Rs 280.

The offering, which was open for subscription between 29 January 2019 and 31 January 2019, was subscribed 1.02 times. The issue price was fixed at Rs 280 per share i.e. at upper end of price band of Rs 275-280 apiece.

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.

To know our view on the IPO of Chalet Hotels Ltd, you can read our entire IPO analysis here (subscription required).

Meanwhile, the IPO of state-run Indian Renewable Energy Development Agency (IREDA) will be launched before September 2019, reports noted.

With IPOs hitting the markets again, 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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Stock Market Updates

Top 5 Mid-Cap Gainers Today; MAX FINANCIAL SERVICES LTD Leads the Pack (Today's Market)

Aug 20, 2019 04:39 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

PARAG MILK FOODS LTD Plunges by 5%; BSE 500 Index Down 0.3% (Today's Market)

Aug 20, 2019 03:34 PM

PARAG MILK FOODS LTD share price has plunged by 5% and its current market price is Rs 169. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are MAHANAGAR GAS (up 7.8%) and JAGRAN PRAKASHAN (up 5.2%). The top losers are PARAG MILK FOODS LTD (down 5.3%) and EDELWEISS FINANCIAL (down 8.8%).

NIIT TECHNOLOGIES Surges by 5%; BSE IT Index Up 1.4% (Today's Market)

Aug 20, 2019 03:32 PM

NIIT TECHNOLOGIES share price has surged by 5% and its current market price is Rs 1,397. The BSE IT is up by 1.4%. The top gainers in the BSE IT Index are NIIT TECHNOLOGIES (up 5.3%) and PERSISTENT SYSTEMS (up 5.4%). The top losers are FIRSTSOURCE SOL. (down 0.1%) and TECH MAHINDRA (down 0.2%).

MRPL Plunges by 5%; BSE OIL & GAS Index Down 0.9% (Today's Market)

Aug 20, 2019 03:24 PM

MRPL share price has plunged by 5% and its current market price is Rs 51. The BSE OIL & GAS is down by 0.9%. The top gainers in the BSE OIL & GAS Index are CASTROL INDIA (up 0.8%) and INDRAPRASTHA GAS (up 0.4%). The top losers is MRPL (down 5.2%).

ISGEC HEAVY ENG. Surges by 5%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Aug 20, 2019 02:14 PM

ISGEC HEAVY ENG. share price has surged by 5% and its current market price is Rs 345. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index is ISGEC HEAVY ENG. (up 5.4%). The top losers are SADBHAV ENGINEERING (down 0.3%) and LAKSHMI MACHINE (down 0.3%).

Sensex Slips 150 Points; Yes Bank & IndusInd Bank Top Losers (Today's Market)

Aug 20, 2019 12:30 pm

Indian share markets are trading marginally lower with the BSE Sensex down by 139 points while NSE Nifty is trading lower by 57 points.

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