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Indian Indices Gain Momentum, Upcoming IPOs, and Top Cues in Focus Today

Thu, 27 Dec Pre-Open

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Indian share markets erased their early losses and ended on a positive note yesterday.

At the closing bell yesterday, the BSE Sensex ended up by 235 points, while the NSE Nifty ended up by 66 points. Sectoral indices ended on a mixed note with realty stocks, and IT stocks witnessing maximum selling pressure. While, telecom stocks and bank stocks ended the day in green.

Top Stocks in Focus Today

From the FMCG sector, Hindustan Unilever share price (HUL) will be in focus today as the National Anti-Profiteering Authority (NAA) yesterday slapped a Rs 3.8 billion fine for GST profiteering.

The NAA said HUL did not pass on the benefit of GST rate cuts to the consumers. In September, the regulator had ruled that suppliers would be liable to pay penalty for not passing the benefits of GST rate reduction on the sale of goods.

To know more about the company, you can read HUL Q2FY19 result analysis and HUL Annual Report analysis on our website.

Jubilant Foodworks share price will also be in focus today on the back of concerns of rising employee expenses and higher base and more intense competition from food aggregators.

Market participants will also be tracking Aurobindo Pharma share price as the company has received final approval from the US health regulator to market anaesthesia drug Vecuronium Bromide Injection.

Reportedly, the company has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Vecuronium Bromide Injection in the strengths of 10mg and 20mg.

To know more about the company, you can access to Aurobindo Pharma's Q2FY19 result analysis and Aurobindo Pharma FY18 annual report analysis on our website.

From the IPO Space...

In the news from the IPO space, as per an article in a leading financial daily, Bengaluru-based real estate developer Shriram Properties Ltd has filed draft documents with markets regulator for an initial public offering (IPO).

The company, part of the Shriram Group, plans to raise up to Rs 2.5 billion in fresh capital through the IPO.

As per the reports, the overall size of the Shriram Properties IPO is expected to be around Rs 12 billion as several existing investors plan to pare their holdings through the share sale.

Starwood Capital, Tata Capital Financial Services Ltd, TPG Asia and Mauritius Investors Ltd will collectively offer to sell 42.4 million shares in the Shriram Properties IPO.

Shriram plans to use the proceeds to repay debt, which would include loans availed by its units Shriprop Structures, Global Entropolis and Bengal Shriram.

Note that, Shriram Properties is not the only real estate company looking to go public.

In April, Mumbai-based real estate developer Lodha Developers Ltd had filed its draft prospectus for an IPO, which will see the company raise Rs 37.5 billion in primary capital, and an offer for sale by promoters.

In June, Puranik Builders Ltd, a major real estate developer with projects in Mumbai and Pune, filed the draft prospectus for a Rs 8.1-billion IPO.

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.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

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

Crude Oil Witnesses Volatility

In the news from the commodity space, crude oil prices are trading on a mixed note as the US benchmark rebounded from steep losses in the previous session, even though concern over the health of the global economy continued to overshadow the market in the longer term.

Global markets have been under pressure on worries about a global economic slowdown amid higher US interest rates and the US-China trade dispute.

On Tuesday, Russian energy minister Alexander Novak said that oil prices would become more stable in the first half of 2019, supported by OPEC and non-OPEC countries' joint efforts to cut output.

Oil prices have been pulled down sharply since October by signs of an economic slowdown. Meanwhile the two world's biggest economies, the United States and China, are locked in a trade war which is threatening to slow global growth and battering investor sentiment.

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 Currency Space...

The rupee was trading at 69.79 to the dollar in the morning trade. It hit a low of 70.06 and a high of 69.75 in the course of trading today.

The rupee has gained on increased selling of the US currency by exporters and banks. However, a lower opening of the domestic equity markets capped the rise, the reports noted.

At the Interbank Foreign Exchange, the rupee opened on a strong note at 69.79 a dollar against the previous close of 70.14. Further, the domestic unit surrendered early gains to quote at 69.95, showing a gain of 19 paise.

On Monday, the rupee had recovered 4 paise to close at 70.14 against the American currency, following weak crude oil prices and the dollar's losses in global markets due to political uncertainty in the US.

Meanwhile, the benchmark Sensex plunged over 300 points as investors turned jittery over political uncertainty in the US and fears of a global economic slowdown amid a heavy sell-off by foreign investors.

This selling pressure was seen on the back of a strong dollar and high oil prices. Similarly, the spill-over from the emerging-market turmoil in Argentina and Turkey weighed on the rupee.

However, in the near term, the rupee being under pressure could benefit export-oriented businesses.

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Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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