Of the Ongoing IPO Rush, Rising Crude Oil Prices, and Top Cues in Focus Today

Wed, 4 Jul Pre-Open

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Share markets in India closed on a positive note yesterday. Gains were largely seen in the healthcare sector and IT sector.

At the closing bell yesterday, the BSE Sensex stood higher by 114 points (up 0.3%) and the NSE Nifty closed higher by 43 points (up 0.4%). The BSE Mid Cap index ended up by 0.7%, while the BSE Small Cap index ended up by 0.4%.

Top Stocks in Focus Today

From the IT sector, Infosys share price will be in focus today as shares of the company scaled their fresh all-time high of Rs 1,358 in yesterday's trade on the back of a weakening rupee.

From the pharma space, Dr Reddy's share price will also be in focus today as it was yesterday reported that the company has launched Repatha, a cholesterol lowering drug, in India after getting approval from the health regulator.

Strides Shashun share price will also be in focus today after its subsidiary received approval from the US Food and Drug Administration (USFDA) for its painkiller drug Ibuprofen. Strides Pharma Global Pte Ltd received final approval from the USFDA for Ibuprofen which is a generic version of Motrin IB tablets, 200 mg, of Johnson & Johnson Consumer, Inc.

Crude Oil Prices Continue Uptrend on Supply Disruptions

In the news from the commodity space, crude oil prices were witnessing buying interest yesterday as Production at Syncrude Canada's 360,000 barrels per day (bpd) oil sands facility was hit by a power outage last month. The facility is said to remain offline through July and the development will help in draining US crude oil inventories.

Also, Libya's National Oil Corp (NOC) declared force majeure on loadings from Zueitina and Hariga ports on Monday, resulting in 850,000 bpd of supplies being disrupted.

The above developments meant a cut in crude oil supplies and led to a rise in crude oil prices.

Note that crude oil prices have been witnessing a rising trend lately. Rising crude oil prices not only affect fuel prices, but also have many other repercussions for the Indian economy.

They can be a big worry for the Modi government as well. This is because the Modi government has been a big beneficiary of lower crude oil prices.

Apart from that, what does rising crude oil prices mean for stock markets?

Richa Agarwal, editor of Hidden Treasure, tracks the oil and gas sector very closely. She believes the rise in crude oil prices is a bearish sign for stock markets globally. At the same time, any market correction, will throw up interesting buying opportunities in small-cap stocks.

How the government handles this situation of rising crude oil and fuel prices remains to be seen. Meanwhile, we will keep you posted on all the developments from this space. Stay tuned.

From the IPO Space...

In the news from the IPO space, Flemingo Travel Retail has received SEBI's approval to raise Rs 26 bn through an initial share sale. The company is a global travel retailer with a leading position in Indian and Sri Lanka travel retail markets, where it operates core duty-free stores and the aggregate retail area of core duty-free stores.

With the above development, the total number of companies getting clearance to float IPO this year stands at 29 so far.

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

Also, according to EY India IPO Readiness Survey Report, globally, Indian exchanges recorded the highest IPO activity as the country saw 90 IPO launches that raised US$ 3.9 billion in the first half of this year.

Meanwhile, the amount raised by SME IPOs in 2017 stood at Rs 17.9 bn. This is more than three times the amount raised in 2016. The number of SME IPOs launched also doubled from 66 to 132.

We believe 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 how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

Hero MotoCorp Clocks Record Sales in 1QFY19

From the automobile sector, Hero MotoCorp clocked record sales of more than 2.1 million unit sales in the first quarter of the current fiscal.

The company sold 704,562 two-wheeler units in the month of June 2018, which is a 13% growth over the 624,185 units sold in June 2017.

The company also took a price hike in most of its models of motorcycles and scooters to partially offset higher input costs amid rising demand as sales climbed in June. The company did not however, specify the quantum of increase.

The company expects better sales going forward with the monsoon already hitting many parts of the country ahead of time, which will lead to a positive consumption pattern.

One of the major indicators of the positive consumption pattern is the volume of vehicles sold.

For the first nine months of FY18 at least, the auto industry has done well to grow in double digits after some lean years.

Vehicle sales grew by 11.3% YoY during this period. The best performing of the lot were commercial vehicles (CVs), volumes of which grew by 15% YoY. Two-wheelers also did well growing by around 12% YoY. In fact, in a recent conference call, the management of the largest two-wheeler company in the country - Hero Motocorp - said they expect the two-wheeler industry to grow in double digits in FY19 as well.

We're keeping a close eye on auto stocks in this correction.

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

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