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

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

  • MyStocks

MEMBER'S LOGINX

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

Tatva Chintan Pharma's IPO Update, L&T Infotech's June Quarter Performance, and Buzzing Stocks Today
Mon, 19 Jul Pre-Open

Indian share markets ended on a flat note on Friday.

Benchmark indices ended on a flat note as investors worried about the recent surge in Covid-19 cases in the country and different parts of the world.

At the closing bell on Friday, the BSE Sensex stood lower by 19 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 1 point (down 0.1%).

Divi's Laboratories and Bharti Airtel were among the top gainers.

HCL Technologies and Eicher Motors, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.5% and 0.4%, respectively.

Sectoral indices ended on a mixed note with stocks in the IT sector, banking sector and finance sector witnessing most of the selling pressure.

Telecom and realty stocks, on the other hand, witnessed buying interest.

At 8:05 am today, the SGX Nifty was trading down by 226 points, or 1.4% lower at 15,710 levels. Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading down by 0.3% at Rs 48,268 per 10 grams at the time of closing stock market hours on Friday.

--- Advertisement ---
The Hidden Opportunity in EV Stocks No One Knows About

With today's fast-changing technology and concern about the environment, the popularity of electric vehicles (EVs) has been on the rise.

Most investors go the usual route of investing in large companies and waiting to rake in profits.

We believe that's not the best approach.

In fact, our research has uncovered a hidden way to make potentially windfall gains from this EV opportunity.

Interested to know more? You can get all details by clicking the link below:

Equitymaster's Latest Research Project - Details
------------------------------

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani, talks about a new market that the Reserve Bank of India has opened for investors, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be L&T Infotech.

L&T Infotech (LTI) reported a net profit of Rs 5 bn for the quarter ended 30 June 2021, up 19.3% year on year (YoY).

Revenue for the three-month period rose 17.4% to Rs 34.6 bn.

In dollar terms, revenue was 20.4% higher YoY, and up 5.1% sequentially to US$470.2 m. In constant currency terms, revenues were up 17.8%.

Commenting on the earnings, CEO and managing director of L&T Infotech said,

  • We are pleased to report our best-ever quarter one sequential growth of 5.1% driven by holistic growth across our verticals, service lines, client pyramid and geographies.

    Our healthy pipeline and continued strong demand make us confident of future growth.

    Also, quarter one marks the 5-year anniversary of LTI's IPO, and our board has declared a special dividend to commemorate this occasion.

    Over these past 5 years, we have delivered US dollar revenue compound annual growth rate (CAGR) of 13.5% and more than doubled our net profit.

The company added a net 2,300 employees during the quarter, taking total headcount to 38,298.

The attrition rate for the quarter was 15.2% compared to 12.3% in the previous quarter.

The company signed on 23 new clients during the quarter, including one in the over US$50 m category.

Angel Broking share price will also be in focus today.

Shares of Angel Broking jumped 20% on Friday after the company posted strong numbers for the June 2021 quarter.

The recently listed broking firm reported a jump of 210% in net profit at Rs 1.2 bn, against a net profit of Rs 382 m in the same period last year.

It had clocked a profit of Rs 997 m in the March 2021 quarter.

The company reported an operational revenue of Rs 4.6 bn, 94.3% higher than its revenue of Rs 2.4 bn in the year-ago period.

FREE Event: Discover Your First Stock for a Potential Rs 7 Crore in Long-term Wealth

The board of directors of the company declared an interim dividend of Rs 5.15 per share with a record date of 26 July 2021.

The company's board has consented to submit an application to the market regulator to obtain approval for acting as a sponsor for its mutual fund business and to constitute a committee.

This committee will oversee the activities related to the proposal of setting up of its mutual fund business.

The board in its meeting also approved the change of name of the company from 'Angel Broking Limited' to 'Angel One Limited' or 'Angel One Fintech Limited' or any other name as may be approved by the Central Registration Center ("CRC') of Ministry of Corporate Affairs.

Shares of Angel Broking were listed in October 2020. The company had issued shares at Rs 306 in its initial offering. The scrip has almost turned four times from the issue price.

Tatva Chintan Pharma Chem IPO Subscribed 4.5 Times on Day 1

Tatva Chintan Pharma Chem's initial public offering (IPO) saw strong demand, as the IPO was fully subscribed in the initial hour of bidding on the first day itself.

The offer was subscribed 4.5 times on July 16, as investors put in bids for 14.6 m equity shares against the IPO size of 3.3 m equity shares, data available on the exchanges showed.

The demand from retail investors remained strong for the specialty chemical company, as their reserved portion was subscribed 8.2 times.

The portion set aside for non-institutional investors was subscribed 1.1 times, while qualified institutional buyers' portion was subscribed 50%.

Tatva Chintan mobilised Rs 1.5 bn of the total issue size of Rs 5 bn through the anchor book on July 15 at the higher end of the price band of Rs 1,073-Rs 1,083 per equity share.

The IPO comprises a fresh issue of Rs 2.3 bn and an offer for sale of Rs 2.8 bn by promoter and promoter group whose shareholding will be reduced to 79.2% after the issue.

--- Advertisement ---
What CNBC Won't Tell You...

The next 10 years would be a golden period for Indian investors...

The "Big Bull" Rakesh Jhunjhunwala claims it could be one of the largest stock market bull runs in India ever...

And veteran investor Raamdeo Agarwal says the S&P BSE Sensex could even reach 200,000 points in the next 10 years... All thanks to these...

Highly Powerful Wealth-Building Mega-Trends
------------------------------

Zomato IPO Subscribed 38.3 Times on July 16

The initial public offering of Zomato was subscribed 38.3 times on July 16, the third and final day of bidding.

The offer received bids for 27.5 bn equity shares against IPO size of 0.72 bn equity shares, the subscription data available on the exchanges showed.

The retail investor portion was subscribed 7.5 times, while non-institutional investors put in bids for 33 times against their reserved portion.

The portion set aside for employees was subscribed 62% and that of qualified institutional buyers (QIBs) subscribed 51.8 times.

Speaking of Zomato's IPO, Equitymaster's telegram channel conducted two polls on the food delivery company to know about the mindset of market participants towards the company's IPO.

The two questions asked by us were as follows:

  • Are you investing in the Zomato IPO?

According to the poll data, around 36% of participants said yes to apply for the public offer, while 64% of them people denied to subscribe the IPO. (Sample size - 434)

  • If you are investing in the Zomato IPO, pick the reason you are choosing to invest...

For the above question, out of 297 people around 35% of them said they will invest in the Zomato IPO for long term gains, while 21% of the market participants said they will apply to the pubic offer only for short term gains.

On the other hand, around 44% of them said that they will subscribe to the offer just for listing gains.

How the IPO sails through remains to be seen. Meanwhile, we will keep you updated on the latest news from this space.

if you haven't subscribed to Equitymaster's telegram channel yet, you can do so here.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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 "Tatva Chintan Pharma's IPO Update, L&T Infotech's June Quarter Performance, and Buzzing Stocks Today". Click here!

  

Stock Market Updates

SGX Nifty Down 52 Points; Indicates Negative Opening for Indian Stock Markets (Today's Market)

Dec 3, 2021 SGX Nifty

Trends on SGX Nifty indicate a negative opening for Indian stock markets.

L&T, ReNew Power Join Hands for Green Hydrogen Biz, Cadila's Covid Vaccine, and Buzzing Stocks Today (Today's Market)

Dec 3, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

Infosys vs TCS: Which is Better?(Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake(Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

6 Popular Stocks that Turned into Penny Stocks(Views On News)

Nov 27, 2021

A look at popular stocks that crashed big time and never recovered, i.e. which went from 'Multibaggers to Multibeggers'.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing.(Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.

5 Indian Companies Embracing Blockchain Technology(Views On News)

Nov 23, 2021

Blockchain adoption in India was slow in the past. Now, the technology is being well received.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Dec 3, 2021 02:54 PM

MARKET STATS