Sensex Trades Flat; Energy Stocks Drag

Thu, 7 Sep 01:30 pm

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After opening the day in green, Share markets in India traded down throughout the day and are currently trading marginally above the dotted line. Sectoral indices are trading on a mixed note, with stocks in the realty sector and the metal sector witnessing maximum buying interest. Stocks in the energy sector are trading in the red.

The BSE Sensex is trading up by 11 points (up 0.1%) and the NSE Nifty is trading up 12 points (up 0.1%). Meanwhile, the BSE Mid Cap index is trading up by 0.6%, while the BSE Small Cap index is trading up by 0.7%. The rupee is trading at 63.99 to the US$.

In news from the IPO space. ICICI Lombard General Insurance Co.'s initial public offering (IPO) will be open for subscription from 15 to 19 September.

The company plans to an equity dilution of over 86 million shares, with a reservation of up to 4.3 million shares of ICICI Lombard for ICICI Bank Ltd's existing shareholders. However, the price band for the offer has not yet been decided.

Two state-run general insurers-General Insurance Corp. of India and New India Assurance Co.-as also two life insurance firms - SBI Life and HDFC Standard Life - have lined up IPO plans and are awaiting the market regulator's go ahead for their respective draft papers.

In related news, two IPOs viz. Dixon Technologies and Bharat Road Network are making waves in the market with their initial share sale offers. The initial public offerings of both these companies will be open for subscription during 6th-8th September.

Dixon Technologies, a consumer electronics manufacturer, has fixed a price band of Rs 1,760-1,766 per share for its IPO, through which it aims to raise about Rs 6 billion. Its public issue was fully subscribed at the time of writing.

Meanwhile, Bharat Road Network (BRN), a Srei Infrastructure Finance initiative, has fixed price band of Rs 195-205 per share for its IPO and also aims to raise Rs 6 billion. At the time of writing, BRN's public issue was subscribed by 26%.

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

IPO Market Buzzing

With multiple offerings lined up, it becomes difficult to evaluate and pick out the best opportunity, if any exists. Not all IPOs will have fortunes like the D-Mart IPO, as the IPO game is inherently rigged against the retail investor.

We don't need to back all the IPOs to get rich. But a few good IPOs could certainly become the multibagger in your portfolio in a few years.

We have come out with a special report titled, How to Get Rich with IPOs. It is a comprehensive report that aims to cut through all the hoopla surrounding IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

Moving on to news from stocks in the automobile sector. Eicher Motors share price is among the top gainers today amid reports of the company preparing a bid to acquire Ducati.

According to an article in the Economic Times, the Royal Enfield manufacturer is set to make a binding offer acquire the iconic Italian superbikes Ducati for $1.8-2 billion.

The report adds that the acquisition, if successful will help Eicher expand its portfolio, increase its brand equity and global presence, in addition to giving it access to Ducati's technology.

Eicher Motors is believed to be the to be the only Asians left in the fray in the ongoing auction for the Ducati disposal and is currently finalizing the financing and structural terms of the merger with a consortium of global banks.

The Volkswagen group, which owns Ducati through its Audi arm has been trying to sell its Ducati business since early April this year.

The divestment plans had reportedly triggered interests from a diverse set of potential suitors, including Harley Davidson, Suzuki home grown Bajaj Auto and Hero MotoCorp as well as private equity buyout funds like KKR and CVC Capital Partners.

However, as of now Eicher Motors remains one of the frontrunners.

At the time of writing, Eicher Motors share price was trading up by 3.2%.

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

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