NITI Aayog on India's Economic Growth, Recent QIP Launches, and Top Buzzing Stocks Today

Thu, 6 Aug Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

Indian share markets ended on a flat note yesterday.

At the closing bell yesterday, the BSE Sensex stood lower by 24 points (down 0.1%).

The NSE Nifty closed higher by 24 points (up 0.2%).

The BSE Mid Cap index ended up by 0.4%.

The BSE Small Cap index ended up by 0.9%.

On the sectoral front, gains were largely seen in the telecom sector and metal sector.

Speaking of the current stock market scenario, note that after over 2 years of lag, the smallcap index is beating Sensex in the post Covid rebound.

As per Richa Agarwal, lead smallcap analyst at Equitymaster, the next few days would be crucial for making big gains in smallcap stocks. But while it is time to act, you must tread with caution. Post Covid, Richa expects a lot of clean up in the smallcap space, with only a few quality stocks emerging as winners.

She will be revealing more about these quality stocks online at her Rebound Riches Summit on Friday, 7 August 2020.

To book your free seat for this summit, please click here.

Also, speaking of stock markets, in his latest video, co-head of research, Rahul Shah talks about how you can make winning penny stock investments with the help of few simple ratios. He talks about the most critical data points that are needed to make successful penny stock investments.

Tune in to find out more:

Top Stocks in Focus Today

Axis Bank will be among the top buzzing stocks today.

Axis Bank has set a floor price of Rs 442.2 per equity share for its proposed Rs 150 billion qualified institutional placement (QIP). The board of the bank had last month approved the fund raise plan. The QIP was okayed by shareholders at the annual general meeting held on 31 July 2020. Reportedly, the committee may, at its absolute discretion, offer a discount of not more than 5% of the said floor price.

PI Industries will also be in focus today as the company reported a strong set of numbers for the first quarter of the financial year 2020-21 (FY21). The company posted a 43% year-on-year (YoY) rise in its consolidated net profit at Rs 1.5 billion against Rs 1.02 billion reported in the corresponding quarter of the previous fiscal. Revenue for the quarter came in at Rs 10.6 billion, up 41% YoY.

Domestic revenues were up by 76% YoY, contributed by carryover demand from Q4FY20, Isagro brand sales, and robust momentum in the domestic segment on planned brand positioning to avail advantage of early sowing. The company further said that its business outlook remains robust and it expects to launch two new products in the second, or third quarter of the current financial year.

Market participants will also track HDFC Ltd today as it is reported that India's largest private sector mortgage financier was to launch a mega qualified institutional placement (QIP) to raise Rs 140 billion as it looks to strengthen its balance-sheet and scout for M&A opportunities in the COVID-19 era.

As per a leading financial daily, the company have received excellent demand from long only funds. The plan is to raise the entire Rs 140 billion in a single tranche via a QIP of equity and warrants. It was not immediately clear on how NCDs (non-convertible debentures) would be accommodated as part of the exercise.

With the launch, HDFC Ltd will become the sixth corporate to launch a QIP during the lockdown period and will join the likes of Kotak Mahindra Bank, JM Financial, PI Industries Axis, Bank and Info Edge.

On June 19th, 2020, a committee of directors of the firm had approved a massive fund-raising exercise of up to Rs 140 billion in one or more tranches through a combination of financial instruments.

The HDFC statement added that the said funds are being raised to augment its long-term resources, finance organic & inorganic business opportunities that may arise in financial services including housing finance and/or in areas where its subsidiaries operate, and to maintain sufficient liquidity and for general corporate purposes.

NITI Aayog's Recommendations to Boost Growth in Auto and Real Estate Sectors

With the economy going through a slowdown, the NITI Aayog is of the view that India's gross domestic product (GDP) may contract around 5.1% in the current fiscal.

In a recent presentation to Prime Minister Narendra Modi and the Finance Ministry, it has suggested ways to boost demand, specifically in automobile sector and real estate sector.

As per NITI Aayog, the long-awaited scrappage policy should be brought in to help the automobile sector. It has also recommended removal of cess on automobiles.

In a bid to revive demand in the realty sector, it has suggested reinstatement of the subvention scheme which was disallowed last year.

Further, the think tank has also recommended government spending as private expenditure and investment is likely to take a backseat in the current scenario.

NITI Aayog, in its presentation, also noted that manufacturing sector growth and capacity utilisation was severely low even before the nationwide lockdown was implemented.

In another major recommendation, it was reported that the think tank has suggested privatisation of three banks - Punjab & Sind Bank, UCO Bank and the Bank of Maharashtra.

If and how the above recommendations are acted upon by the government remains to be seen. Meanwhile, we will keep you updated on all the developments from this space. Stay tuned.

Info Edge Shares Hit All-Time High on QIP Launch

Info Edge share price hit a record high of Rs 3,419 on the BSE yesterday after the company announced it has launched qualified institutional placement (QIP) to raise up to Rs 18.8 billion.

The company has set a floor price of Rs 3,177.18 per share for the qualified institutional placement offering (QIP).

"We propose to utilize the net proceeds to augment our long term cash resources, for meeting the fund requirements of our business activities and general corporate purposes as a part of our growth strategy," the company said in a prospectus filed with the stock exchanges.

On June 22, the company's board of directors had approved fundraising through issue of equity shares of face value of Rs 10 each of the company by way of QIP to eligible qualified institutional buyers for an aggregate amount not exceeding Rs 18.8 billion.

Info Edge runs online classified businesses such as Naukri.com, 99acres.com, Jeevansathi.com, and Shiksha.

Note that Info Edge is the third company to launch a QIP to raise equity capital this month, in just the first two trading days of the month.

Private sector lender Axis Bank launched its Rs 100-billion QIP on Tuesday evening, while pharmaceutical firm Alembic Pharma launched its share sale on Monday.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers