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Markets will remain closed on 15th August 2018.
We wish all our readers a Happy Independence Day!

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.

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

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Read the latest Market Commentary

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Stock Market Updates

CITY UNION BANK Surges by 5%; BSE BANKEX Index Up 1.0% (Today's Market)

Aug 14, 2018 03:23 PM

CITY UNION BANK share price has surged by 5% and its current market price is Rs 185. The BSE BANKEX is up by 1.0%. The top gainers in the BSE BANKEX Index is CITY UNION BANK (up 5.1%). The top losers are SBI (down 0.1%) and HDFC BANK (down 0.1%).

PFIZER at All Time High; BSE HEALTHCARE Index Up 2.2% (Today's Market)

Aug 14, 2018 03:04 PM

PFIZER share price has hit an all time high at Rs 2,910 (up 1.7%). The BSE HEALTHCARE Index is up by 2.2%. Among the top gainers in the BSE HEALTHCARE Index today are PFIZER (up 1.7%) and SANOFI INDIA (up 0.2%). The top losers include NARAYANA HRUDAYALAYA LTD (down 0.2%) and GLENMARK PHARMA (down 0.3%).

NIIT TECHNOLOGIES at All Time High; BSE IT Index Up 0.8% (Today's Market)

Aug 14, 2018 03:01 PM

NIIT TECHNOLOGIES share price has hit an all time high at Rs 1,334 (up 3.3%). The BSE IT Index is up by 0.8%. Among the top gainers in the BSE IT Index today are NIIT TECHNOLOGIES (up 3.3%) and ORACLE FINANCIAL SERVICES (up 2.3%). The top losers include MPHASIS LTD (down 0.2%) and ZENSAR TECHNOLOGIES (down 0.7%).

JSW STEEL at All Time High; BSE METAL Index Up 0.2% (Today's Market)

Aug 14, 2018 03:01 PM

JSW STEEL share price has hit an all time high at Rs 350 (down 0.2%). The BSE METAL Index is up by 0.2%. Among the top gainers in the BSE METAL Index today are JSW STEEL (down 1.4%) and TATA STEEL (up 1.4%). The top losers include JSW STEEL (down 0.2%) and VEDANTA LTD (down 0.3%).

DABUR at All Time High; BSE FMCG Index Up 0.7% (Today's Market)

Aug 14, 2018 03:01 PM

DABUR share price has hit an all time high at Rs 453 (up 2.5%). The BSE FMCG Index is up by 0.7%. Among the top gainers in the BSE FMCG Index today are DABUR (up 2.5%) and NESTLE (up 0.7%). The top losers include BOMBAY BURMAH (down 0.2%) and RADICO KHAITAN (down 0.3%).

Sensex Up Over 240 Points; Rupee Touches Record Low (Today's Market)

Aug 14, 2018 12:30 pm

The BSE Sensex is trading up by 242 points, while the NSE Nifty is trading up by 81 points.

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