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Indian Indices Continue Momentum; MSTC IPO, and Top Stocks in Action Today
Wed, 13 Mar Pre-Open | Monish Vora, TM Team

On Tuesday, share markets in India opened on a positive note and ended the day deep in green after an optimistic day of trading.

The BSE Sensex closed higher by 482 points to end the day at 37,536. While the broader NSE Nifty ended up by 133 points, to end the day at 11,301 points.

Among BSE sectoral indices, realty stocks rose the most by 2.6%, followed by telecom stocks at 2.4%.

Top Stocks in Action Today

Bharti Airtel share price will be in focus today as the company is planning to reduce its direct stake in Bharti Infratel by over 50%. The company's unit -- Nettle Infrastructure Investments will be purchasing up to 32% share in Bharti Infratel by March 18, 2019.

Piramal Enterprise share price will be in focus today as the company's partner for its global pharma businesses - Slate Run Pharmaceuticals LLC. (Slate Run) has launched generic cinacalcet hydrochloride tablets (30mg, 60mg and 90mg) in the United States (US).

Tata Motors share price will also be in focus today as the company has bagged orders for over 2,500 commercial passenger transportation vehicles from various institutional customers and the company is in the process of delivering these units.

Market participants will also track Deep Industries share price.

Reportedly, Deep Industries has received Letter of Award of contract from ONGC, for charter hiring of 01 No. of 1000 HP Mobile Drilling Rig for Ahmedabad Asset for a period of 3 years. The total estimated value of the said Award is approximate Rs 917.5 million.

From the Currency Space...

The rupee appreciated 15 paise to 69.99 against the dollar yesterday, on weakening greenback, fresh foreign inflows and higher opening of domestic equities.

The rupee closed at 69.89 against the dollar on Monday, its highest close since January 7.

In its previous session Friday, the rupee edged 14 paise lower to close at 70.14. On a weekly basis, however, the domestic currency logged 78 paise gains.

The dollar depreciated against most Asian currencies after Federal Reserve Chairman Jerome Powell said the central bank was in no hurry to change interest rates.

Reportedly, fresh foreign fund inflows and positive sentiment on Dalal Street also buoyed the local unit.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 11 billion on Friday, the reports noted.

From the IPO Space...

In the news from the IPO space, the initial public offering of state-run e-commerce company MSTC is set to open today. The company is planning to raise Rs 2.3 billion through this IPO. The issue closes on March 15 and the company has fixed the price band of Rs 121-128 per share.

Incorporated in 1964, Kolkata based MSTC Limited is a PSU involved in the business trading of bulk-raw material and e-commerce service provider to government and government-controlled entities.

It was a canalizing agency for import of ferrous scrap until 1992 and established itself one of the leading e-commerce service providers in the country after de-canalization.

The company has also entered into the recycling business through a 50:50 joint venture with Mahindra Intertrade Limited (MIL) for setting up a shredding plant and collection centers across the country.

The three main business verticals of MSTC are (i) E-commerce, (ii) Trading, and (iii) Recycling.

We will keep you updated on all the developments from this space. Stay tuned.

Speaking of IPOs, 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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