X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
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?  

Of IPOs, LIC-IDBI Bank Deal, and Top Cues in Focus Today
Mon, 23 Jul Pre-Open | Monish Vora, TM Team

Share markets in India closed marginally higher on Friday last week. All sectoral indices traded in green, with stocks in the IT sector and stocks in the pharma sector, leading the gains.

At the closing bell on Friday, the BSE Sensex stood higher by 145 points (up 0.4%) and the NSE Nifty closed up by 53 points (up 0.5%). The BSE Mid Cap index ended up 0.7% while the BSE Small Cap index ended up by 0.4%.

Top Stocks in Focus Today

From stocks in the pharma sector, Alembic Pharma share price will be in focus today. The stock of the company was among top gainers on Friday last week as the company received an establishment inspection report (EIR) from the US Food and Drug Administration (USFDA). The company received the establishment inspection report (EIR) for its active pharmaceutical ingredient (API) facility at Karakhadi, Gujarat indicating a closure of inspection.

Jain Irrigation share price will also be in focus today as the company on Friday announced that it has received an order worth Rs 9.75 billion from Madhya Pradesh government to execute the Mohanpura Major Project.

Form the auto sector, Bajaj Auto share price will also be in focus today as the company reported 21% YoY growth in standalone net profit at Rs 11.2 billion for the quarter ended June 30, 2018.

--- Advertisement ---
Top 3 'Regulation - 31' Stocks to Buy

Kunal Thanvi, editor of Smart Money Secrets, has just released a special report. Research Analyst, Kunal's special report is called…

Top 3 'Regulation-31' Stocks.

Now, if you're wondering …

    What exactly is 'Regulation 31'?

    How does it guide us towards stocks which could potentially turn into multi-baggers in just a few years?

    How can you get full details on these 3 'Regulation 31' stocks?

Click here to get all the answers.
------------------------------

RBI Gives LIC Nod to Acquire IDBI Bank

From stocks in the banking sector, IDBI Bank share price will be in focus today as the Reserve Bank of India (RBI) last week gave an in-principle nod to Life Insurance Corporation (LIC) for acquiring a majority stake in IDBI Bank.

The RBI's approval comes right after LIC's board approved the deal for the buyout of the state-owned IDBI Bank Ltd.

The LIC board approved the acquisition of up to 51% stake in IDBI Bank.

The government owns over 81% stake in IDBI Bank, while LIC already holds a 7.98% stake in IDBI Bank as of end June this year; the latest approval will enable it to acquire another 43% stake in the bank.

A stake sale of 40-43% in the lender could net the government over Rs 100-110 billion.

Notably, the government had announced that it would bring its stake in IDBI Bank below 50% in the Union Budget 2016.

The IDBI Bank board is scheduled to meet soon to draw capital raising plan for the next five years.

From the IPO Space...

The initial public offering (IPO) of Women's apparel maker TCNS Clothing Company which opened for offer last week, was subscribed 3.2 times on its final day of the bidding process.

The firm sells its products under W, Aurelia and Wishful brands.

As on 30 September 2017, TCNS sold its products through 418 exclusive brand outlets, 1,305 large format store outlets and 1,361 multi-brand outlets in different parts of the country. It also sold products through six exclusive brand outlets in Nepal, Mauritius and Sri Lanka.

To know our view on the IPO of TCNS Clothing, you can read our entire IPO analysis here (subscription required).

Further, HDFC Asset Management Company, the country's second largest mutual fund firm, has fixed a price band of Rs 1,095-1,100 per share for its initial public offering. The IPO is estimated to garner Rs 28 billion.

The initial share sale offer will be open for public subscription from July 25 to 27.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.

Reportedly, the proposed IPO will put up to 25.4 million equity shares of the fund house on sale, of which 8.6 million shares will be put up by HDFC and up to 16.8 million shares by Standard Life.

HDFC AMC is selling a 4.1% stake in the IPO, while Standard Life will offload 8%.

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

Equitymaster requests your view! Post a comment on "Of IPOs, LIC-IDBI Bank Deal, and Top Cues in Focus Today". Click here!

  

Stock Market Updates

BSE Small-Cap Index Surges 1% This Week; Here are Smallcaps that Gained the Most... (Today's Market)

Aug 17, 2018

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 Surges 1% This Week; Here are Midcaps that Gained the Most... (Today's Market)

Aug 17, 2018

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

Top Stocks that Hit 52-Week Highs This Week (Today's Market)

Aug 17, 2018

Get a complete list of BSE-500 stocks that touched their 52-Week highs during the week.

Top Stocks that Hit All-Time Highs This Week (Today's Market)

Aug 17, 2018

Get a complete list of BSE-500 stocks that touched their all-time highs during the week.

BSE Sensex was Up 0.8% This Week; Here are Stocks that Gained the Most... (Today's Market)

Aug 17, 2018

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

YES BANK at All Time High; BSE BANKEX Index Up 1.3% (Today's Market)

Aug 17, 2018 03:28 PM

YES BANK share price has hit an all time high at Rs 394 (up 3.8%). The BSE BANKEX Index is up by 1.3%. Among the top gainers in the BSE BANKEX Index today are YES BANK (up 3.8%) and HDFC BANK (up 0.2%). The top losers include FEDERAL BANK (down 3.6%).

View More Indian Share Market News

Most Popular

This is a Must-Have Stock for Your Portfolio(The 5 Minute Wrapup)

Aug 8, 2018

Tanushree just released the permanent wealth blueprint report. This report includes three safe and steady stocks. I like one in particular. Here's why

Trading in These Times: 8% Gains in 3 Days!(Profit Hunter)

Aug 9, 2018

Here are 2 stocks you can buy right now! And there are plenty more opportunities to come...

Banks are Raising FD Rates and That's Good News(Vivek Kaul's Diary)

Aug 7, 2018

Lending to the retail segment remains strong, whereas lending to the service sector has picked up dramatically.

Why HDFC Equity Fund Disappointed Its Investors(Outside View)

Aug 9, 2018

Though popular, HDFC Equity Fund is not among the best performers anymore. Here is the reason behind its underperformance that has left investors disappointed.

HDFC AMC Makes 65% Listing Gains! Should It Attract Mutual Fund Investors?(Outside View)

Aug 8, 2018

PersonalFN explains if investors should invest in schemes of HDFC Mutual Fund looking at the listing gains of HDFC AMC.

More

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 17, 2018 (Close)

MARKET STATS