Of IPOs, Rebound in Oil Markets, and Top Stocks in Action Today

Thu, 7 Sep Pre-Open

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Share markets in India ended their Wednesday session on a negative note. Losses were seen across most of the sectors with stocks in the pharma sector and stocks in the FMCG sector, leading the losses. At the closing bell, the BSE Sensex stood lower by 148 points (down 0.5%) and the NSE Nifty closed lower by 36 points (down 0.4%). The BSE Mid Cap index ended the day up by 0.2%, while the BSE Small Cap index ended the day up by 0.4%.

Top Stocks in Focus Today

Dr. Reddy's Laboratories share price will be in focus today as the company yesterday announced the launch Metaxalone Tablets, USP 800 mg, approved by the US Food and Drug Administration (USFDA). One shall note that in the past three years, the USFDA raised numerous regulatory concerns resulting in import bans and suspension of new drug approvals from facilities of Indian pharma companies. But what has come as a breather is a sharp pick-up in new drug approvals in 2017. We'll keep you updated on all the recent developments in this space.

Reliance Industries share price is also said to be in focus today as the stock sets to go ex-bonus.

From the automobile space, market participants will be keeping tabs on Tata Motors share price as news reported that workers are staging protests at the heavy and medium truck making facility in Jamshedpur seeking clarity on the pay hike.

Two IPOs on the Table. Should You Subscribe to Them?

Two companies viz. Bharat Road Network and Dixon Technologies (India) Ltd are bringing their IPOs to the financial market today. The initial public offerings of both these companies will be open for subscription from 6^th-8^th September.

Dixon Technologies (India) expects to raise Rs 6 billion from its IPO today. The company plans to spend the proceeds on capacity expansion and debt repayment. It plans to offer about 33,93,425 equity shares of face value of Rs 10 each amounting to Rs 5.99 billion on the upper price band.

Further, it has raised Rs 1.8 billion by selling 1.02 million shares to institutional investors.

Meanwhile, Bharat Road Network also opened its IPO for subscription today aiming to garner around Rs 6 billion.

At least 75% of the issue will be allotted on a proportionate basis to qualified institutional buyers, of which the company may allocate up to 60% of the QIB portion to anchor investors, on a discretionary basis.

Do these companies have sound business models? Are they leaving enough money on the table for investors?

We have released our IPO note for both the above IPOs. You can access the same in our IPO section.

Also, to get a more detailed view on the IPO sector, you can download our FREE report - How to Get Rich with IPOs. This report will show you how to safely profit from the 2017 IPO rush.

Revival of Stressed Power Assets

As per a leading financial daily, the government is formulating a novel scheme to revive stressed power assets by inviting competitive bids from them to supply electricity for five years.

This would be the government's biggest plan to support 34 stressed plants with a capacity of 40,000 megawatts (MW).

Accordingly, the power ministry is considering pooling electricity demand of various states and call tariff- based bids. Once the demand is finalised, the contracts will be passed on to the states. Guidelines for the scheme are likely to be issued in a month.

The above move will mean cheaper electricity for state utilities as well as help stranded plants to start operation and repay debt.

Oil Prices Rise after Hurricane Harvey Fallout

Oil rose to 4-week highs on Wednesday as reopening of US Gulf Coast refineries post hurricane Harvey renewed demand. Further, fears of potential damage to US oil production from Hurricane Irma heading towards the Florida coast meant oil prices held on to the gains.

The upswing in crude prices marked a swift reversal from last week, when prices had languished in the wake of Hurricane Harvey. The storm knocked out more than 20% of U.S. refining capacity, cutting demand for crude and weighing on 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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