Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

ECB Minutes; Tech Mahindra's Buyback Plan and Top Stocks to Watch Out for Today
Fri, 22 Feb Pre-Open

On Thursday, the Indian share markets ended higher led by gains in metals and pharma stocks.

The BSE Sensex ended at 35,898, up 142 points, while the Nifty 50 index settled at 10,790, up 54 points.

Top Stocks in Focus

Cadila healthcare share price will be in focus today as Zydus Cadila received the final approval from the USFDA to market Phytonadione Tablets USP (US RLD - Mephyton), 5 mg. The drug is used to treat & prevent low levels of blood clotting factors that the body naturally produces.

Tech Mahindra has received approval for buyback of its own fully paid equity shares of Rs 5 each not exceeding 20.6 million equity shares of the company as on 6 March 2019 at a price of Rs 950 per Equity Share, for an aggregate amount not exceeding Rs 19.6 billion.

Bharat Heavy Electricals (BHEL) has achieved yet another milestone by successfully commissioning a 250 MW coal-based thermal power plant (TPP) in Bihar.

Grasim Industries has completed acquisition of the Chlor-Alkali Business (CAB) of KPR Industries (India) by way of a slump sale, for a cash consideration of Rs 2.5 billion.

Bharti Airtel has lost 15 lakh subscribers in December 2018 taking its customer base to 340.2 million.

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

Global Stock Market Drivers

European stocks struggled for direction while Asian shares and US equity futures rose amid a mixed bag of headlines on global trade.

The greenback edged higher and the yuan extended gains, while the Aussie dollar slumped.

The mixed trade headlines follow the release of minutes from the Federal Reserve, which seemed to have a little something for bulls and bears alike. Policy makers signaled that a rate increase remains on the table, but also that they are contemplating the end of the balance sheet roll-off this year.

Next up on traders' watch lists will be European Central Bank meeting minutes, followed by President Mario Draghi's speech today.

Oil Prices

Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and US sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy.

US West Texas Intermediate (WTI) crude oil futures were at US$57.3 per barrel, 0.3% above their last settlement, but below their 2019 high of US$57.55 reached the previous day.

International Brent crude futures were at US$67.1 per barrel, 6 cents above their last close and not far off their 2019 peak, hit the day before, of US$67.4 per barrel.

From the IPO Space...

As per an article in the Economic Times, Punjab National Bank may look at listing its life insurance arm next financial year and is currently in the process of selling its 4% of 30% stake in PNB Metlife to discover price.

The insurance company has been talking about an IPO since 2016 and the issue is necessitated by the American financial services major and its partner Metlife Inc's plans to exit the company.

Founded in 2001, PNB Metlife, based in Mumbai, is a joint venture between the state-run bank with a 30% shareholding, Metlife owns 26%, Elpro 21%, M Pallonji & Company 18%, and Jammu & Kashmir Bank owns the remaining 5% stake.

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!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "ECB Minutes; Tech Mahindra's Buyback Plan and Top Stocks to Watch Out for Today". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.