Indian Indices Trade Marginally Higher; Healthcare Stocks Witness Buying Interest

Tue, 27 Mar 11:30 am

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Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the healthcare sector and metal sector witnessing maximum buying interest. Telecom stocks are trading in the red.

The BSE Sensex is trading up 65 points (up 0.2%) and the NSE Nifty is trading up 25 points (up 0.2%). The BSE Mid Cap index is trading up by 0.8%, while the BSE Small Cap index is trading up by 1.1%. The rupee is trading at 64.80 to the US dollar.

In the news from the IPO space, Kolkata-based private lender Bandhan Bank made a stellar debut on bourses today. The scrip of the company, which recently concluded its IPO subscription offer, got listed at Rs 499, a 33% premium to its issue price of Rs 375.

To give you a bit of the bank's history, its parent company, Bandhan Financial Services (BFSL) was a NGO providing microfinance to economically disadvantaged women in rural West Bengal. It started the microfinance business in 2006. On August 23, 2015, when BFSL, transferred its entire microfinance business to Bandhan Bank, it was India's largest microfinance company by number of customers and size of loan portfolio.

Bandhan Bank and IDFC Bank were the only two entities to get the RBI's banking licenses in 2014.

To know more about the company, you can read our IPO analysis of Bandhan Bank (subscription required).

At the time of writing, Bandhan Bank share price was trading at Rs 477 on the NSE.

Speaking of IPOs, the demand for IPO's has reached sky-high levels. This euphoria is something similar to what was seen in 2007-08.

At times like this, it pays to follow a merit-based selection - primarily including valuation, business, and management quality - 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.

Also note that with big ticket IPOs in the limelight, SMEs have also joined in to get a share of the pie. The recent SME IPO data for 2017 certainly seems to suggest so.

The amount raised by SME IPOs in 2017 stood at 17.85 billion, more than three times the amount raised in 2016. The number of SME IPOs launched also doubled from 66 to 132. This is evident from the chart below:

SME IPO Boom in 2017

img src="https://www.eqimg.com/5minWrapUp/images/2018/01272018-COD-equitymaster.gif" />

While it doesn't make sense to completely ignore this space, a certain sense of caution is definitely merited.

In the news from the engineering sector, Punj Lloyd share price is witnessing buying interest today. Most of the gains are seen as the company announced that it has won a Rs 5 billion highway contract in Odisha from National Highways Authority of India (NHAI).

Dilip Buildcon share price is also witnessing buying interest today as the company announced that it has secured projects totalling Rs 41 billion from NHAI which are to be built in 'hybrid annuity mode'.

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

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