Key Q2FY19 Results; Oil Prices; IPO Buzz, & Top Stocks in Focus Today

Mon, 12 Nov Pre-Open

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Share markets in India continued to trade in the red during closing hours on Friday and ended their trading session marginally lower. Sectoral indices ended on a mixed note with stocks in the IT sector and metal sector witnessing most of the selling pressure.

At the closing bell on Friday, the BSE Sensex stood lower by 79 points (down 0.2%) and the NSE Nifty closed down by 13 points (down 0.1%). The BSE Mid Cap index ended up 0.7%, while the BSE Small Cap index ended up by 0.6%.

Top Stocks in Action Today

Infosys share price will be in focus today as the company has formed an alliance with Nokia to develop solutions powered by new-age technologies like artificial intelligence (AI) and machine learning (ML).

The partnership will help drive digital transformation in a wide array of enterprises and industries, addressing vertical markets, including transportation, energy and manufacturing, media and entertainment, and education.

To know more about the company, you can access Infosys Q2FY19 result analysis and Infosys 2017-18 Annual Report on our website.

From the pharma space Glenmark pharma share price will also be in focus today as the company is planning to launch a Phase 1 trial in solid tumors for its CD38xCD3 bispecific antibody GBR 1342.

Market participants will also be tracking Mphasis share price.

Reportedly, the company's wholly owned subsidiary - Mphasis Corporation has acquired Stelligent Systems LLC in a cash deal valued at Rs 1.75 billion. Stelligent provides DevOps and DevSecOps solutions on Amazon Web Services (AWS).

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Results Corner

Hindustan aeronautics share price has reported over 4-fold jump in its net profit at Rs 2.9 billion for the quarter under review as compared to Rs 0.7 billion for the same quarter in the previous year.

Indian bank share price has reported 66.8% fall in its net profit at Rs 1.5 billion for the quarter under review as compared to Rs 4.5 billion for the same quarter in the previous year. However, total income of the bank increased by 5.2% at Rs 51.3 billion for Q2FY19 as compared Rs 48.7 billion for the corresponding quarter previous year.

India cements share price has reported a fall of 94% in its net profit at Rs 14.3 million for the quarter under review as compared to Rs 236.7 million for the same quarter in the previous year.

You can also read our recently released Q2FY19 result analysis of the following companies: Asian Paints, TVS Motors, Wipro, Ambuja Cement, HDFC Bank, Infosys and more.

Oil Prices Continue Downtrend

Oil prices fell to the lowest level since April as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.

The market focused on record US crude production and signals from Iraq, Abu Dhabi and Indonesia that output will grow more quickly than expected in 2019.

It would be interesting to see how this pans out. Meanwhile, we will keep you updated on all the developments from this space.

From the IPO Space...

In the latest development from the IPO space, Surat-headquartered Ami Organics, which had received market regulators approval for an initial public offering (IPO) in October, is getting ready to launch its IPO in the first half of next month.

The company, according to the draft red herring prospectus (DRHP), will sell 35 lakh shares through the initial stake sale.

Proceeds of the IPO will be used to repay borrowings, fund long-term working capital requirements and for general corporate purposes.

With so many IPOs set to hit the markets, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

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

Read the latest Market Commentary

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