Of WPI-Inflation Data, Q2FY19 Results, and Top Stocks in Focus Today

Thu, 15 Nov Pre-Open

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Share markets in India ended their trading session on a flattish note yesterday. Sectoral indices ended on a mixed note with stocks in the IT sector and pharma sector witnessing most of the selling pressure. Stocks from the energy sector were witnessing buying interest.

At the closing bell yesterday, the BSE Sensex stood flat and the NSE Nifty closed down by 6 points (down 0.1%). The BSE Mid Cap index ended up 0.2%, while the BSE Small Cap index ended down by 0.2%.

Top Stocks in Action Today

From the pharma space, Alkem Laboratories share price will be in focus today as the US Food and Drug Administration (USFDA) has concluded an inspection at Alkem Laboratories' Bioequivalence facility located in the state of Maharashtra. At the end of the inspection, no Form 483 was issued.

Havells India share price will also be in focus today as company will launch new range of fans in the summer of 2019. The products would be offered under two categories i.e. 'State-of the-Art technology range' and 'State-of-the-Style range'.

Market participants will be tracking Zee Entertainment share price.

Reportedly, the company's promotors showed their keenness in divesting up to 50% of their equity stake in the company to a strategic partner.

As per the company filing, the partner will pursue disruptive technological development and transform the business of Zee Entertainment into tech-media company.

Results Corner

Glenmark pharma share price has reported over 2-fold jump in its net profit at Rs 7.4 billion for the quarter under review as compared to Rs 3.2 billion for the same quarter in the previous year.

Coal India share price has reported over 5-fold jump in its net profit of Rs 6.1 billion for the quarter under review as compared to Rs 1.1 billion for the same quarter in the previous year.

M&M share price has reported 23.9% rise in its net profit at Rs 16.5 billion for the quarter under review as compared to Rs 13.3 billion for the same quarter in the previous year.

PTC India share price has reported 26.7% fall in its net profit at Rs 0.9 billion for the quarter under review as compared to Rs 1.3 billion for the same quarter in the previous year.

You can also read our recently released Q2FY19 result analysis of the following companies: Sun Pharma, Jet Airways, Ashok Leyland, Axis bank, Titan company and more.

From the Macroeconomic Space...

Inflation based on wholesale prices rose to a four-month high of 5.3% in October, mainly due to a spike in petrol and diesel prices, even as food prices softened.

Food articles witnessed softening of prices with deflation at 1.5% in October, against 0.21% September. Vegetables too became cheaper with deflation at 18.7% in October, compared to 3.8% in the previous month.

The 5.23% inflation is the highest in four months, and a higher inflation than this level was last seen in June at 5.7%.

The Reserve Bank of India (RBI) mainly takes into account retail inflation data while formulating monetary policy.

The RBI warned that volatile and rising oil prices and the tightening of global financial conditions pose substantial risks to the growth and inflation.

Apart from this, India imports, exports and trade balance data are likely to be released today.

From the IPO Space...

In the news from the IPO space, Reliance General Insurance is planning to file fresh papers with the markets regulator to float an initial public offer (IPO).

Earlier, the company failed to hit the primary markets as lack of investors' appetite and volatile equity market conditions forced the company to postpone its plans.

Market regulators' approval for IPOs is valid for one year, which will expire on 29th November in the case of Reliance General Insurance company.

The IPO will comprise fresh issue of 16.7 million shares by the company and an offer of sale of 50.3 million shares by Reliance capital share price.

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.

Oil Prices Continue Downtrend

Oil prices continued to fall on Wednesday on the back of worries about weakening world demand and oversupply.

The Organization of the Petroleum Exporting Countries (OPEC) warned on Tuesday that a supply glut could emerge in 2019 as the world economy slows and rivals increase production more quickly than expected.

OPEC member states rely heavily on high oil prices to finance government budgets and they have been watching the increase in supply and the corresponding price slump with concern.

Crude oil has lost over a quarter of its value since early October in what has become one of the biggest declines since a price collapse in 2014.

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

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