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Sensex Opens in Red; Capacit'e Infraprojects Soars on Market Debut
Mon, 25 Sep 09:30 am | Rini Mehta, TM Team

Majority of the Asian stock markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.30% while the Hang Seng is down 0.86%. While, the Nikkei 225 is trading is up 0.58%. US stocks closed slightly higher on Friday as worries about the Graham-Cassidy proposal to reform US health insurance eased and investors shrugged off concerns about North Korea.

Back home, share markets in India have opened the day on a negative note ahead of economic stimulus from the government later today. The BSE Sensex is trading lower by 142 points while the NSE Nifty is trading lower by 45 points. The BSE Mid Cap and BSE Small Cap index opened the day down by 0.1% & 0.2% respectively.

Sectoral indices have opened the day on a mixed note with stocks from and witnessing maximum selling pressure. While, and are leading the pack of gainers. The rupee is trading at 64.96 to the US$.

In the news from IPO space. Capacit'e Infraprojects, a Mumbai-based construction company, whose initial public offer (IPO) saw a whopping 186-times subscription, has listed its shares on the exchanges today.

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Capacite has listed at the premium of Rs 175 in the opening trade.

The stock is listed on both NSE and BSE. Issue price of Capacit Infraprojects was fixed at Rs 245-250 per share.

Interestingly, with 186 times subscription Capacit'e Infraprojects' IPO becomes the most subscribed IPO of 2017. The portion of Capacit'e Infraprojects' IPO reserved for non-institutional investors was subscribed 651 times while the portion reserved for Institutional investors was subscribed 134 times.

To know more about the company, you can access our IPO note on the same in our IPO section.

However, with so many new IPOs set to hit the market, it is prudent to be ready with a strategy to take advantage of the frenzy.

It's good to be very selective when investing in IPOs. Carefully analyse each company for its own merits and don't give in to the hype surrounding the public offering.

That's Ankit Shah's approach at Equitymaster Insider. He keeps a sharp eye on developments in the IPO space and keeps his readers up to date on the big-ticket IPOs.

Ankit and his team of researchers constantly reference this handbook on investing in IPOs. You can download a copy for yourself. It's free. Just click here.

Moving on to the news from pharma sector. As per an article in a leading financial daily, Cadila Healthcare Ltd.'s subsidiary Zydus can now sell a hypertension drug in the American market., as it has received an approval from the US Food and Drug Administration (USFDA).

The drugmaker will manufacture the tablets at its formulation plant in Ahmedabad.

Reportedly, there are at least 75 million Americans who suffer from high blood pressure.

Further, the Amlodipine and Olmesartan Medoxomil tablets will be sold in four different strengths. With this, Cadila and Zydus together now have more than 150 approvals in the US.

Speaking of pharma sector, at a point in time, almost every stock in this space was considered a safe stock. You could just pick the top 5-6 companies from the sector and expect to make decent returns over a period of time.

But over the last two to three years, the pharma stocks have been anything but safe. In fact, the BSE Healthcare Index is down 24% in two years. In comparison, Sensex has gained 23% in the same period.

But the recent developments have been encouraging. Domestic growth seems to have bounced back post the GST impact. The Indian Pharmaceutical Market (IPM) which declined in July showed a 2.4% YoY growth in August.

Here's what Kunal Thanvi, our research analyst, recently wrote about the sector:

  • "Pharma companies which can adapt to these changes will thrive in the long run. The uncertainties highlight it important to be stock specific in the sector. It is crucial to look for companies with the competence and staying power to overcome the challenges."

So, what is key to identifying potential multibagger stocks? How does one pick them at the right time and ride them to their full potential? How many multibaggers do you really need to achieve the big riches that you desire?

Most importantly, are there any stocks right now that could turn out to be multibaggers? Click here to know everything that you need to know right now about mutlibagger stocks...

Cadila Healthcare share price opened down by 1%.

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