Infosys Woes, Insurance IPOs and Top Stocks in Action

Tue, 22 Aug Pre-Open

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On Monday, the share markets in India slumped in the final hours of trade and finished the day in red.

The BSE Sensex closed lower by 266 points to end at 31,259 while the broader NSE Nifty ended the day lower by 83 points to close at 9,754.

Among BSE sectoral indices, IT index fell the most by 2%, followed by PSU stocks 1.8%, and healthcare stocks 1.6%. Infosys, BHEL, and Bank of Baroda were the top losers, while Axis Bank, M&M and Tech Mahindra were among the top gainers.

Top Stocks in Action Today

Infosys share price is likely to be in focus today as the stock fell to its three-year low of Rs 881, down 4.5% in intra-day trade, extending its previous day's fall of nearly 10%. The stock is expected to experience further pain as the proposed buyback failed to enthuse market participants after MD and CEO Vishal Sikka's resignation.

The company on Saturday announced that it would buy back shares worth up to Rs 130 billion, or 4.92%, from investors at Rs 1,150 per share

Cadila Healthcare share price and Torrent Pharma share price will be in focus today amid news of a potential merger between the two entities. If the deal goes through, there would be significant benefits in terms of achieving the desired size and scale and synergies in terms of complementary overseas markets like Russia and Latin America. Moreover, the resultant merged entity of Cadila Healthcare and Torrent Pharma would command a market cap of nearly Rs 700 billion and move into a stronger number two position and inch closer to Sun Pharma.

Cadila Healthcare is already at the number two position with a m-cap of Rs 490.9 billion followed by Cipla, Lupin & Aurobindo Pharma.

Company Earnings That Will Drive Indian Markets Today

Companies which will be reporting June quarter earnings today include Mayur Uniquoters, Castrol India Ltd, CARE Ratings Ltd among others.

Uncertainty Shrouds Global Stock Markets

Financial markets worldwide traded on a week note amid global uncertainty. Market participants cheered the firing of White House strategist, Steve Bannon, however uncertainties over Donald Trump's economic agenda failed to keep US share markets in the positive territory.

Market participants are now eyeing the financial announcements from the annual summit in Jackson Hole, where top central bankers including Fed Chairwoman Janet Yellen and ECB President Mario Draghi will are set to meet later this week.

IPO Buzz

In news from the IPO space, India's third largest private sector insurer - HDFC Life is set to come out with its initial public offering (IPO) after the company announced that it filed its draft red herring prospectus (DHRP) with the regulators. The DRHP follows a board resolution by the insurer last month. On 17 July, the HDFC Life board passed a resolution, clearing the IPO by way of offering a combined 20% holding, of which the insurer's UK-based JV partner, Standard Life (Mauritius Holdings) 2006 Ltd, is to offload more than 10%.

As per the prospectus filed with Sebi, HDFC will dilute about 9.565% stake and Standard Life will offload about 5.4% in the IPO.  top central bankers including Fed Chairwoman Janet Yellen and ECB President Mario Draghi will gathe

IPOs are all the rage in the share markets these days. With new companies listing by the day, all with promises of superior returns.

However, we don't need thousands of IPOs to get rich. That's not how super investors make their fortunes. But a few good IPOs could certainly become the multibaggers in your portfolio in a few years.

We have reviewed each of them and have released their recommendation notes. You can check the same on their IPO page.

Download this FREE report now and discover How to Get Rich with IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

Oil Prices Edge Lower

Oil edged lower on Monday despite a deal struck by some of the world's biggest producers to rein in output. Concerns about major oil producers' wavering commitment to output caps and rising US oil production has been a major contributor to falling prices.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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