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Indian Indices Trade in Green, Global Stock Markets, and Top Stocks in Action Today
Wed, 18 Jul Pre-Open | Rini Mehta, TM Team

Indian share markets continued their momentum yesterday and ended on a positive note. Gains were largely seen in the energy sector and PSU banking sector.

At the closing bell yesterday, the BSE Sensex stood higher by 196 points (up 0.5%) and the NSE Nifty closed up by 71 points (up 0.7%). The BSE Mid Cap index ended the day up 2.1%, while the BSE Small Cap index ended the day up by 1.1%.

Top Stocks in Action Today

In the news from pharma sector, Glenmark Pharmaceuticals share price will be in focus today as the company received final approval from the US health regulator for Colesevelam Hydrochloride for oral suspension which is used to lower cholesterol levels in the blood.

As per the company filing, the approval has been granted by the United States Food and Drug Administration (USFDA) in the strengths of 1.875 grams/packet and 3.75 grams/packet.

Colesevelam Hydrochloride is a generic version of Welchol 1 of Daiichi Sankyo Inc. According to IQVIATM sales data for the 12-month period ending May 2018, Welchol for Oral Suspension achieved annual sales of approximately US$ 73 million.

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Apart from the above, the company has also completed the formalities for the acquisition of the equity stake and has acquired the 100% equity share holding of Zorg.

From the banking sector, Federal Bank share price will also be in focus today as the bank reported a rise of 25% in its net profit at Rs 2.6 billion for the quarter ended June 30, 2018 as compared to Rs 2.1 billion for the same quarter in the previous year. Total income of the Bank increased by 10.7% at Rs 29.4 billion for Q1FY19 as compared Rs 26.5 billion for the corresponding quarter previous year.

The Bank's gross NPA for the April-June quarter of the current fiscal increased to 3%, as compared to 2.4% in the same quarter of the previous year. Besides, bank's Net NPA stood at 1.72% in Q1FY19.

Moving on to news from steel sector, Tata Steel share price will be in focus after it was reported that the company is planning to raise overseas loans.

Tata Steel is planning to raise as much as US$3.1 billion via overseas loans to repay existing high-cost debt ahead of the merger of its European operations with German steel giant Thyssenkrupp.

The new facilities will replace the existing debt held by its European businesses. Once completed, this could be one of the largest refinancing program by a corporate this year to drastically cut down borrowing costs.

According to reports, the new plan will substantially reduce debt burden on Tata Steel's consolidated operations. The new debt will be cheaper by 30-40 basis points from the current level.

Global Share Markets Trade on a Mixed Note

Asian stock markets finished mixed yesterday. The Hang Seng was down by 1.3% and the Shanghai Composite was down by 0.6%. The Nikkei 225 was up by 0.4%. Meanwhile, European markets were trading on a positive note. The FTSE 100 was down by 0.2%, The DAX, was down by 0.1% while the CAC 40 was down by 0.2%.

The rupee was trading at Rs 68.41 against the US$ at the time of writing. Oil prices were trading at US$ 71.6.

From the IPO Space...

The initial public offering (IPO) of TCNS Clothing will kick off today. The issue will comprise of 15,714,038 shares which will be offered in the Rs 714-716 price band.

The company is engaged in the business of designing, manufacturing, marketing and retailing of branded apparels for women. TCNS offers top-wear, bottom-wear, drapes, combo-sets and accessories etc., catering to the varied wardrobe requirements of Indian women. Company's brand portfolio includes 3 brands:

  1. 'W' - A premiere brand targeted at women's casual and workwear requirements.
  2. Aurelia - A contemporary ethnic wear brand that grew in revenue at a CAGR of 70.8% during 2013-17.
  3. Wishful - A premium occasion wears brand that grew in revenue at a CAGR of 66.7% during 2013-17.

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Stock Market Updates

BSE Small-Cap Index Closes 0.8% Up This Week; Here are Smallcaps that Gained the Most... (Today's Market)

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Here are stocks that gained the most in BSE Smallcap this week. Read on for weekly market stats and individual stock performance.

BSE Mid Cap Index Falls 0.5% This Week; Here are Midcaps that Lost the Most... (Today's Market)

Oct 19, 2018

Here are stocks that lost the most in BSE Midcap this week. Read on for weekly market stats and individual stock performance.

BSE Sensex was Up 2.3% This Week; Here are Stocks that Gained the Most... (Today's Market)

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Here are stocks that gained the most in BSE Sensex this week. Read on for weekly market stats and individual stock performance.

MPHASIS LTD Plunges by 5%; BSE IT Index Down 2.8% (Today's Market)

Oct 19, 2018 02:56 PM

MPHASIS LTD share price has plunged by 5% and its current market price is Rs 1,120. The BSE IT is down by 2.8%. The top gainers in the BSE IT Index are NIIT TECHNOLOGIES (up 5.1%) and NIIT LTD (up 1.4%). The top losers are MPHASIS LTD (down 5.2%) and L&T INFOTECH LTD (down 5.3%).

MAGMA FINCORP Plunges by 5%; BSE 500 Index Down 1.5% (Today's Market)

Oct 19, 2018 02:56 PM

MAGMA FINCORP share price has plunged by 5% and its current market price is Rs 103. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.7%) and JET AIRWAYS (up 5.9%). The top losers are MAGMA FINCORP (down 5.1%) and PIRAMAL ENTERPRISES (down 9.7%).

TV TODAY NETWORK Plunges by 5%; BSE 500 Index Down 1.5% (Today's Market)

Oct 19, 2018 02:52 PM

TV TODAY NETWORK share price has plunged by 5% and its current market price is Rs 395. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.2%) and JET AIRWAYS (up 6.4%). The top losers are TV TODAY NETWORK (down 5.1%) and L&T INFOTECH LTD (down 5.5%).

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