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Capacit'e Infraprojects IPO, BPCL Expansion Plans, and Top Stocks in Focus Today
Thu, 14 Sep Pre-Open | Monish Vora, TM Team

Indian share markets witnessed selling pressure in final few hours of trade yesterday and finished their session on a flat note. Losses were seen on the back of mixed global markets.

At the closing bell, the BSE Sensex closed higher by 28 points and the NSE Nifty finished down 14 points. The S&P BSE Mid Cap finished down by 0.7% while & S&P BSE Small Cap too finished down by 0.6%.

Losses were seen in PSU stocks and energy stocks, while bank stocks and pharma stocks witnessed buying interest.

Top Stocks in Focus Today

Market participants will be tracking Tata Power share price and Tata Chemicals share price today as both the companies are said to sell some of their stake in Tata Group companies to Tata Sons. The move is aimed at reducing the complex cross-holding structure of the giant conglomerate.

ITC share price is said to be in focus today. This comes as the company has announced that it'll likely enter the market with fresh potato, followed by some more fresh vegetables. This is the first such move by an Indian FMCG company. ITC is also planning to launch fruit pulps and juices in order to become top food company in India.

Wockhardt share price will also be in focus today. The stock of the company surged 4.5% yesterday after the company said it is undertaking remediation measures for US-linked facilities. The company will re-invite the US drug regulator after remediation of plants is completed.

Apart from the above, market participants will be keeping tabs on oil marketing companies. Most of the companies operating in this sector witnessed selling pressure after it was reported that India is unlikely to further raise fuel prices due to higher inflation.

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In the News from IPO Space...

The initial public offering (IPO) of Capacit'e Infraprojects got subscribed 26% yesterday, the first day it started receiving bids.

The company has an asset-light business model and a Rs 46 billion order book that includes clients such as Rustomjee, Lodha, Oberoi and Godrej seeks to raise 4 billion from the primary market.

The company has set an IPO price band of Rs 245-250 per share. The company will use the proceeds from the issue to fund working capital requirement, purchase capital assets and general corporate purposes.

We have released our IPO note for this IPO. You can access the same in our IPO section.

Apart from the above, the IPO of ICICI Lombard General Insurance Company is also set to hit the market this week. The IPO would be the first by a general insurer in India.

To know which IPOs to subscribe to, 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.

BPCL to Invest Heavily Over the Next Five Years

BPCL yesterday announced that it will invest Rs 1.08 trillion over the next five years to expand operations across its business segment.

While the above development comes as a positive news, market participants reacted negatively to the news. BPCL share price plunged 6% with above average volumes.

Here's a note from the Profit Hunter team on the stock:

  • The stock has been trading in a rising channel line since July 2016. Recently, it broke below the channel's support line but it recovered immediately to get back into the channel. The stock continued to trade strong to hit a new life high of Rs 546 earlier this month where it found resistance from the channel's upper band.

    The stock is now exactly in the middle of the channel. So will the stock hit the channel's support line or the upper line first? Let's wait and watch...

Crude Oil Prices Witness Volatility

Crude oil witnessed buying interest yesterday after the International Energy Agency (IEA) said the global supply glut was starting to shrink due to robust global demand and an output drop from OPEC and other producers.

However, lower forecast figures by the EIA capped the gains. The US Energy Information Administration (EIA) revised its 2017 and 2018 US oil output forecast figures lower to reflect the negative effects of Hurricane Harvey.

Crude oil has also been witnessing losses lately on concerns regarding the rising output from OPEC. Owing to the supply glut, crude oil prices have been remarkably silent over the last two years.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

On the domestic front, falling oil prices bode well for the Indian economy. This is because India is hugely dependent on petroleum imports.

India is the world's third-largest oil consumer. And energy consumption in India is set to grow as our economy remains one of the few 'bright spots' in a slowing, aging world economy. And India could face a potent risk with a rise in crude oil prices.

The only way out for India is to reduce its dependence on oil imports and achieve fuel-sufficiency.

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

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Mar 16, 2018 (Close)