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Indian Indices Trade Marginally Lower; Metal Sector Down 2.5%
Mon, 19 Mar 11:30 am | Monish Vora, TM Team

Share markets in India are presently trading marginally lower. Sectoral indices are trading on a negative note with stocks in the energy sector and metal sector witnessing maximum selling pressure.

The BSE Sensex is trading down 106 points (down 0.3%) and the NSE Nifty is trading down by 35 points (down 0.3%). The BSE Mid Cap index is trading down by 1.4%, while the BSE Small Cap index is trading down by 1.3%. The rupee is trading at 65.06 to the US$.

In the news from the IPO space, the initial public offer of Sandhar Technologies Ltd has opened for subscription today.

The fresh issue of 9.1 million shares along with the offer for sale (OFS) of 6.4 mn shares by the company is aimed at raising Rs 5 billion from the primary market. The IPO will mean promoter's stake in the company reduced to 70% (currently at 83%).

Sandhar Technologies is engaged in the business of designing and manufacturing a diverse range of automotive components, parts and systems which are focused on safety and security systems of vehicles.

The company manufactures its products from 31 manufacturing facilities across eight states in India, two manufacturing facilities in Spain, and one manufacturing facility in Mexico. This apart, it also has an overseas assembly and packaging centre located in Poland and a R&D centre located in Gurugram, Haryana.

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The company's customer profile consists of 79 Indian and global original equipment manufacturers (OEMs) across various segments and global automotive component suppliers such as Autoliv, Bosch, and CTS.

To know our view on this IPO, you can read our IPO note on Sandhar Technologies Ltd (requires subscription).

Speaking of IPOs, the demand for IPO's has reached sky-high levels. Avenue Supermarts was seen as the first company last year to cross the 100-time subscription mark swiftly followed by CDSL and Dixon technologies, among others.

IPO Subscription Times (2017)

This euphoria is something similar to what was seen in 2007-08. When everyone around you is clamoring to get a piece of the IPO pie, it makes sitting tight difficult. And, why should you sit tight when stocks like Avenue Supermart lets you pocket a cool 100% gain from day 1 of the listing?

History suggests that these cases are few and far between. More than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

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 than not.

To know more, you can download our FREE report - How to Get Rich with IPOs. This guide will show you how to safely profit from the ongoing IPO rush.

In the news from the pharma sector, Shilpa Medicare share price is witnessing buying interest today. Gains are seen as the US Food and Drug Administration (USFDA) issued an Establishment Inspection Report (EIR) for the company's formulations manufacturing facility (SEZ unit) located at Jadcherla, Telangana.

The company said that the facility was inspected between November 11 and November 30, 2017 and USFDA determined that the inspection classification of this facility is VAI and accordingly issued EIR.

At the time of writing Shilpa Medicare share price was trading up by around 13% on the BSE.

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

BIOCON LTD Surges by 5%; BSE HEALTHCARE Index Up 1.8% (Today's Market)

Sep 25, 2018 03:19 PM

BIOCON LTD share price has surged by 5% and its current market price is Rs 701. The BSE HEALTHCARE is up by 1.8%. The top gainers in the BSE HEALTHCARE Index is BIOCON LTD (up 5.0%). The top losers are ABBOTT INDIA and J.B.CHEMICALS (down 0.3%).

PRAJ IND.LTD Surges by 5%; BSE CAPITAL GOODS Index Down 0.4% (Today's Market)

Sep 25, 2018 03:07 PM

PRAJ IND.LTD share price has surged by 5% and its current market price is Rs 110. The BSE CAPITAL GOODS is down by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is PRAJ IND.LTD (up 5.3%). The top losers are AIA ENGINEERING and L&T .

ANDHRA BANK Surges by 5%; BSE BANKEX Index Up 1.0% (Today's Market)

Sep 25, 2018 03:07 PM

ANDHRA BANK share price has surged by 5% and its current market price is Rs 31. The BSE BANKEX is up by 1.0%. The top gainers in the BSE BANKEX Index is ANDHRA BANK (up 5.0%). The top losers are ICICI BANK (down 0.2%) and FEDERAL BANK (down 0.3%).

RELAXO FOOTWEARS Plunges by 5%; BSE 500 Index Up 0.2% (Today's Market)

Sep 25, 2018 02:55 PM

RELAXO FOOTWEARS share price has plunged by 5% and its current market price is Rs 776. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are BAJAJ HIND. SUGAR (up 5.1%) and MAHINDRA FINANCE (up 4.7%). The top losers are RELAXO FOOTWEARS (down 5.1%) and HEG LTD (down 7.7%).

MOTILAL OSWAL Plunges by 6%; BSE 500 Index Up 0.2% (Today's Market)

Sep 25, 2018 02:55 PM

MOTILAL OSWAL share price has plunged by 6% and its current market price is Rs 740. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are BAJAJ HIND. SUGAR (up 5.1%) and MAHINDRA FINANCE (up 4.7%). The top losers are MOTILAL OSWAL (down 5.5%) and HEG LTD (down 7.7%).

Sensex Opens Flat; Realty & Bank Stocks Lose (Today's Market)

Sep 25, 2018 09:30 am

Indian share markets open flat with Sensex trading down by 50 points, while the Nifty is trading down by 30 points.

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