Indian Indices End Marginally Lower; Realty & Power Stocks Witness Losses

Thu, 10 May Closing

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After witnessing volatile trades during the day, Indian share markets ended their session marginally lower. Losses were largely seen in the realty sector, power sector and healthcare sector, while energy stocks ended the day higher.

At the closing bell, the BSE Sensex stood lower by 73 points (down 0.2%) and the NSE Nifty closed lower by 25 points (down 0.2%). The BSE Mid Cap index ended the day down by 1.5%, while the BSE Small Cap index ended the day down by 1.4%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng was up 0.9% and the Nikkei stood higher by 0.4%.

The rupee was trading at 67.26 to the US$ at the time of writing.

From the automobile space, Eicher Motor share price was in focus today as the company reported its results for the quarter ended March 2018.

PC Jeweller share price was also in focus today. The stock of the company witnessed buying interest ahead of its board meet on Friday on a share buyback proposal.

In the news from IPO space, the initial public offer (IPO) of non-banking finance company (NBFC), IndoStar Capital Finance was subscribed around 46% during noontime today - the second day of its bidding process.

Indostar Capital Finance is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a systemically important non-deposit taking company.

It is primarily engaged in providing structured term financing solutions to corporates and loans to SME borrowers in India. It recently expanded its portfolio to offer vehicle finance and housing finance products.

The IPO comprises fresh issuance of shares worth Rs 7 billion, besides, an offer-for-sale involving up to 20 million shares.

Proceeds of the fresh issue will be used to augment capital base to meet future capital requirements.

The promoters and the existing shareholders will dilute up to 30% of their ownership through the public issue.

The company is 42.3% owned by the private equity fund Everstone Capital, while ACP Libra owns 16.35% and Beacon India PE owns 10.8%.

To know more about the company, you can read our IPO analysis of IndoStar Capital Finance (requires subscription).

Speaking of IPOs, the demand for IPO's had reached sky-high levels last year.

One shall note that, 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, download this FREE report now and discover How to Get Rich with IPOs. This guide will show you how to safely profit from the IPO rush.

In news from the retail sector... In the biggest acquisition for an Indian start-up, US giant Walmart signed a definitive agreement to acquire a 77% stake in India's largest e-commerce marketplace Flipkart with an investment of around US$16 billion.

The acquisition is the largest transaction in history of the online retail space not only in India but also globally.

Post the deal, Walmart will own 77% of Flipkart. The rise has been staggering for India's largest start-up which started with a modest capital of US$ 6,000 in 2007, as can be seen from the chart below:

Rise of India's Biggest Start-up

Flipkart's story resembles that of its global counterpart Amazon although at a smaller scale. Walmart's deal highlights India's increasing importance in the start-up space.

It also brings to the fore the importance of disruptors in an eco-system. Flipkart incurred losses of US$ 1.35 billion in FY17. Despite this, it is valued at a premium mainly due to its future potential.

The deal also puts focus on India's e-commerce sector, which is showing increasing signs of adoption.

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

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