Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Sensex Opens Flat; Lupin & ONGC Top Losers
Wed, 21 Jun 09:30 am

Asian equity markets are lower today following MSCI's decision to add mainland Chinese stocks to its emerging markets index gradually. The Shanghai Composite is off 0.12%, while the Hang Seng is down 0.31%. The Nikkei 225 is trading down by 0.23%. US equities closed lower on Tuesday, pulling back from record highs, as oil prices pressured energy stocks.

Meanwhile, share markets in India have opened the day on a flat note. The BSE Sensex is trading lower by 44 points while the NSE Nifty is trading lower by 5 points. The BSE Mid Cap Index and BSE Small Cap index both opened the day flat.

Sectoral indices have opened the day on a mixed note with realty stocks and capital goods stocks leading the gainers. While metal stocks and information technology stocks have opened the day in the red. The rupee is trading at 64.47 to the US$.

Engineering stocks opened the day on a mixed note with Jyoti Structure & Blue Star leading the losses. As per an article in a leading financial daily, ABB, the Swedish-Swiss multinational, is in talks with Larsen & Toubro (L&T) to acquire its electrical and automation division.

Reportedly, electrical and automation division generated revenues of Rs 46.50 billion and operating profit of a little over Rs 7 billion in 2016-17.

However, L&T was seeking a valuation of Rs 180 billion for the entire business, which includes the Indian operations as well as subsidiaries in Malaysia, Saudi Arabia and the United Arab Emirates.

In the past, too, L&T had tried to sell the electrical and automation business, as it looked to prune its portfolio and exit non-core areas.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Further, L&T had decided to divest its industrial valves unit. The company was in discussions with American private equity firm KKR. The deal was expected to fetch Rs 30-40 billion but got stuck due to serious differences over the price.

L&T has been in its business for over seven decades. Its sheer reputation, extensive technical prowess, and large skilled workforce have enabled L&T to command a certain premium from customers and vendors alike. Moreover, in the tricky large-projects business, the company has built its reputation through quality and timeliness of execution, brand positioning and a having a diversified presence.

On the flip side, near term headwinds from strained execution and the tepid order inflow were flowing fast.

In such a scenario, what is key to identifying potential multibagger stocks? How does one pick them at the right time and ride them to their full potential? How many multibaggers do you really need to achieve the big riches that you desire?

Most importantly, are there any stocks right now that could turn out to be multibaggers? Click here to know everything that you need to know right now about mutlibagger stocks...

L&T share price opened up by 1.2%.

Moving on the news from IPO space. GTPL Hathway, which offers cable TV and broadband services, raised more than Rs 1.45 billion from anchor investors, ahead of its initial public offering that opens today.

The initial public offering of GTPL Hathway is a 50:50 joint venture between cable TV operator GTPL and Hathway. The price band has been set between Rs 167-170 per share.

An investor can bid for a minimum of 88 equity shares and in multiples of 88 shares thereafter. The issue will close on 23 June.

In the meanwhile, The IPO of pharmaceutical firm Eris Lifesciences Ltd was completely subscribed on Tuesday afternoon, the final day of the offering. The IPO opened on 16 June.

According to the data from stock exchanges, the portion of shares reserved for institutional investors was subscribed 1.29 times, while the portions reserved for high net-worth individuals and retail investors were subscribed 6% and 2.34 times, respectively.

Overall, the offering was subscribed 1.14 times.

Notably, as per an article in The Economic Times, 2017-18 is expected to be one of the best years in India's IPO history. With upwards of 50 IPOs, companies will be looking to raise as much as Rs 400 to 600 billion.

Are IPOs a Sure Shot Way to Make Money?

That could make this IPO frenzy even more frenzied than the previous high of 2007-08 when 84 companies raised Rs 410 billion.

And if you're new to the world of IPOs, we have something for you...

Our new and completely free report - How to Get Rich with IPOs - will tell you how to find those money spinning IPOs and avoid the disasters in the coming year and beyond.

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

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex Opens Flat; Lupin & ONGC Top Losers". Click here!


Views on News

DILIP BUILDCON Share Price Up by 8%; BSE CAPITAL GOODS Index Down 0.6% (Market Updates)

Mar 4, 2021 | Updated on Mar 4, 2021

DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).

BHEL Share Price Up by 6%; BSE CAPITAL GOODS Index Down 0.1% (Market Updates)

Mar 4, 2021 | Updated on Mar 4, 2021

BHEL share price is trading up by 6% and its current market price is Rs 54. The BSE CAPITAL GOODS is down by 0.1%. The top gainers in the BSE CAPITAL GOODS Index is BHEL (up 6.1%). The top losers are HINDUSTAN AERO. and V GUARD INDUSTRIES (down 1.6%).

DILIP BUILDCON Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.3% (Market Updates)

Mar 4, 2021 | Updated on Mar 4, 2021

DILIP BUILDCON share price is trading down by 5% and its current market price is Rs 651. The BSE CAPITAL GOODS is down by 0.3%. The top gainers in the BSE CAPITAL GOODS Index are FINOLEX CABLES (up 4.0%) and THERMAX (up 3.7%). The top losers is DILIP BUILDCON (down 5.0%)..

Mazagon Dock Shipbuilders IPO: Should You Apply? (IPO)

Sep 29, 2020

Should you bet on this public sector defence shipbuilder?

THERMAX Share Price Up by 5%; BSE CAPITAL GOODS Index Down 0.4% (Market Updates)

Mar 4, 2021 | Updated on Mar 4, 2021

THERMAX share price is trading up by 5% and its current market price is Rs 1,447. The BSE CAPITAL GOODS is down by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is THERMAX (up 5.3%). The top losers are HINDUSTAN AERO. and SCHAEFFLER INDIA (down 0.3%).

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Mar 4, 2021 (Close)