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Indian Indices Trade in Red; US-China Trade War Back On; IPO Buzz and Top Stocks in Action
Wed, 20 Jun Pre-Open | Parth Parekh, TM Team

On Tuesday, share markets in India opened flat and ended the day in red. The S&P BSE Midcap Index ended down by 1% while S&P BSE Small Cap Index ended down by 1.3%.

The BSE Sensex closed lower by 262 points to end the day at 35,287. While the NSE Nifty ended down by 89 points to end the day at 10,710.

Among BSE sectoral indices, metal sector fell the most by 1.7% followed by realty sector at 1.%. SAIL and Indiabulls Real Estate were among the top losers.

Top Stocks in Action

Yes Bank share price is likely to be in focus today as the company received final approval and registration from the stock markets regulator for acting as Custodian of Securities.

'Custodian of Securities' is a license granted by the regulator, to eligible entities allowing them to offer custodial services to financial market participants including Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs).

Solar Industries share price is likely to be in focus today, as the company has entered into a strategic partnership agreement with EURENCO for the supply of Propellants, Bombs, Ammunition filling and Modular Charges technologies under the 'Make in India' policy for the private sector.

Dr. Reddy's Laboratories share price is likely to be in focus as the company launched a new drug - Levetiracetam in Sodium Chloride Injection.

The injection is a therapeutic equivalent generic version of HQ Specialty Pharma Corporation's Levetiracetam in Sodium Chloride Injection, approved by the US Food and Drug Administration (USFDA).

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Global Markets Uneasy as Trade War Back on Cards

The US-China trade war is showing no signs of slowing down, as US President, Donald Trump is threatening to slap more tariffs on Chinese imports.

Donald Trump instructed the US Trade Representative's office to identify US$200 billion in imports from China for additional tariffs of 10%.

The US President said the 10% tariffs would come into effect if China refuses to change its practices. Last week he threatened 25% tariffs on $50 billion in Chinese products with another $100 billion targeted beyond that.

The move would be a major escalation of the dispute. World stock markets have suffered sharp falls as a result.

China responded by accusing the US of blackmail, raising fears of a full-blown trade war.

Post the latest salvo, Asian indices took a beating.

The Shanghai Composite was down 3.8% while Hong Kong's Hang Seng was down 2.8% and Japan's Nikkei 225 was lower by 1.8%.

IPO Buzz

The initial public offer of Varroc Engineering Limited is set to hit the market on 26 June. The price band for the issue has been fixed at 965-967 per share.

The auto parts manufacturer aims to raise over Rs 19.5 billion through its IPO, which is a pure offer for sale, with no fresh issue of capital.

The market is gearing up for a burst of activity, with at least 12 companies planning to raise more than Rs 170 billion over the next two months, after a quiet start to the June quarter.

Rhe last IPO to hit the primary market was IndoStar Capital Finance Ltd, which raised Rs 18.4 billion through its share sale in May.

Reportedly, the introduction of the new Indian accounting standards (IndAS) as one of the reasons why IPO-bound companies have not approached the market so far, this quarter.

All companies, including unlisted ones, having net worth of between Rs 2.5 billion and Rs 5 billion have to prepare their financial accounts for the year ended 31 March 2018 as per the IndAS accounting standards. Companies with net worth of Rs 5 billion or more had to implement the new standard a year earlier.

As per the reports, the pipeline in the June quarter will be very healthy. The market/IPO outlook continues to be strong and robust for the next two quarters if not the entire year.

Several major IPOs, including those of HDFC Asset Management Co. Ltd, auto parts maker Varroc Engineering Ltd, non-banking financial company IndoStar Capital Finance Ltd, microfinancier CreditAccess Grameen Ltd and women's apparel maker TCNS Clothing Co. Ltd, are set to hit the market this quarter.

Other companies that may launch their IPOs in the quarter include seafood exporters Devi Seafoods Ltd and Nekkanti Sea Foods Ltd. Both said they would decide on the timing of the launch after they get regulatory approval for their respective share sales.

With so many new IPOs hitting the market, it would be difficult to not get carried away.

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 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.

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

JET AIRWAYS Plunges by 5%; BSE 500 Index Down 0.7% (Today's Market)

Sep 19, 2018 02:45 PM

JET AIRWAYS share price has plunged by 5% and its current market price is Rs 253. The BSE 500 is down by 0.7%. The top gainers in the BSE 500 Index are UNION BANK (up 4.5%) and MONSANTO INDIA (up 3.7%). The top losers are JET AIRWAYS (down 5.3%) and PFIZER (down 6.8%).

UCO BANK Plunges by 7%; BSE BANKEX Index Down 0.4% (Today's Market)

Sep 19, 2018 02:39 PM

UCO BANK share price has plunged by 7% and its current market price is Rs 21. The BSE BANKEX is down by 0.4%. The top gainers in the BSE BANKEX Index are BANK OF BARODA (up 2.6%) and KOTAK MAH. BANK (up 0.7%). The top losers is UCO BANK (down 6.8%).

EDELWEISS FINANCIAL Plunges by 5%; BSE 500 Index Down 0.7% (Today's Market)

Sep 19, 2018 02:39 PM

EDELWEISS FINANCIAL share price has plunged by 5% and its current market price is Rs 261. The BSE 500 is down by 0.7%. The top gainers in the BSE 500 Index are UNION BANK (up 4.5%) and G.E.SHIPPING (up 4.1%). The top losers are EDELWEISS FINANCIAL (down 5.0%) and PFIZER (down 7.4%).

RELIANCE POWER Plunges by 6%; BSE POWER Index Down 0.3% (Today's Market)

Sep 19, 2018 02:37 PM

RELIANCE POWER share price has plunged by 6% and its current market price is Rs 34. The BSE POWER is down by 0.3%. The top gainers in the BSE POWER Index are BHEL (up 1.0%) and POWER GRID (up 0.3%). The top losers are RELIANCE POWER (down 6.0%) and RELIANCE INFRA (down 9.4%).

GODREJ CONSUMER Plunges by 5%; BSE FMCG Index Down 1.0% (Today's Market)

Sep 19, 2018 02:31 PM

GODREJ CONSUMER share price has plunged by 5% and its current market price is Rs 864. The BSE FMCG is down by 1.0%. The top gainers in the BSE FMCG Index are P&G HYGIENE (up 1.5%) and EMAMI LTD (up 0.9%). The top losers is GODREJ CONSUMER (down 5.0%).

Sensex Opens Flat; Healthcare & Metal Stocks Gain (Today's Market)

Sep 19, 2018 09:30 am

Indian share markets open flat with Sensex trading up by 54 points, while the Nifty is trading up by 27 points.

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