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Sensex Trades Over 200 Points Higher; Dow Futures Up by 79 Points
Fri, 12 Mar 12:30 pm | Ayesha Shetty, TM Team

Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 258 points, up 0.5% at 51,537 levels.

Meanwhile, the NSE Nifty is trading up by 74 points.

BPCL and Indian Oil Corporation are among the top gainers today. HDFC Life and SBI Life are among the top losers today.

The BSE Mid Cap index is trading up by 0.8%.

The BSE Small Cap index is trading up by 1.1%.

On the sectoral front, stocks from the utilities sector and telecom sector, are witnessing most of the buying interest

On the other hand, stocks from the automobile sector, are witnessing most of the selling pressure.

US stock futures are trading mixed today.

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Nasdaq Futures are trading down by 36 points (down 0.3%) while Dow Futures are trading up by 79 points (up 0.2%)

The rupee is trading at 72.66 against the US$.

Gold prices are trading down by 0.6% at Rs 44,585 per 10 grams.

Gold and silver prices edged lower today in Indian markets as a rally in risk assets took some shine off precious metals. On MCX, gold futures were down 0.3% to Rs 44,731 per 10 grams while silver declined 0.5% to Rs 67,177 per kg.

Speaking of silver, India's #1 trader, Vijay Bhambwani talks about why you should get excited about making profits in silver from Tesla's entry in India, in his latest video for Fast Profits Daily.

In the video below, Vijay shares the reasons why he is so bullish on the white metal and why you should be too.

Tune in here to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Infosys.

Infosys BPM, the business process management arm of Infosys, on March 11, 2021, announced a five-year extension of its strategic collaboration with Newmont Corporation to standardize and digitize delivery models across the latter's mine sites.

Founded in 1921, the Colorado, US-based Newmont Corporation is a leading gold mining company.

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Through this renewed engagement, Infosys BPM will drive operational excellence leveraging automation, artificial intelligence (AI), and design thinking, to deliver increased business value for Newmont, a statement said.

As part of the engagement, Infosys BPM will provide an enhanced end-to-end digital service to Newmont with its analytics-driven platform-as-a-service offering.

Infosys BPM will also improve Newmont's touchless invoice processing across its accounts payable processes and provide a Digital Command Centre for real-time visibility into process health metrics and analytical models to identify root causes, and thus boost performance across its operations, it added.

"We are pleased to continue to partner with Infosys BPM in standardizing and digitizing supply chain processes across our regions.

"Infosys BPM's strong leadership commitment and clear understanding of our operations will enable significant productivity improvements, service levels improvements, and cost savings," said Ryan Plourde, Group Executive -- Supply Chain at Newmont Corporation.

Anantha Radhakrishnan, MD and CEO of Infosys BPM, said the engagement leverages the company's deep digital and domain expertise and will fast track Applied AI and RPA (Robotic Process Automation) adoption in mining.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, shares of Infosys were trading up by 1.2% on the BSE.

Moving on to news from the ipo space...

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Anupam Rasayan IPO Opens Today

Anupam Rasayan's Rs 7.6 billion initial public offering (IPO) opened for subscription this morning. The issue by the speciality chemicals company comprises entirely fresh issuance of shares and is being sold in the Rs 553-555 price band.

At the upper limit of the price band, the scrip is asking a Price to Earnings (P/E) ratio of 95.2 times trailing 12-month basis on restated Earnings Per Share of Rs 5.8. This is significantly higher than the peer average of 33 times.

The company plans to use net proceeds of the IPO to repay or prepay certain debt and for general corporate purposes. The post-issue implied market capitalisation of the company is projected at Rs 55.3 billion - 55.4 billion.

Anupam Rasayan manufactures a variety of intermediates and ingredients for insecticides, fungicides and herbicides for agrochemical companies. Besides it also manufactures anti-bacterial and ultraviolet protection ingredients for FMCG and pharma companies.

The company's life sciences revenue grew at a CAGR of 26.3% to Rs 5 billion over FY18-20. In the first nine months of FY21, the segment posted a YoY revenue growth of 40.7% at Rs 5.1 billion.

Exports contribute over 60% of the company's total business, while the rest comes from the domestic market. The company operates six manufacturing facilities in Gujarat with an aggregate installed capacity of 23,438 metric tonnes.

How this IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

Speaking of stock markets, a right investing process can help you win in the long term. It might offer some unexpected and undesirable results in the short term but lets you fare well when you average the outcomes.

According to Richa Agarwal, Senior Research Analyst at Equitymaster, any investment process should not be judged based on individual outcomes. Instead, it should have stood the test of the time.

Her smallcap service Hidden Treasure has had its fair share of failures. But sticking to a disciplined process meant that Hidden Treasure's internal rate of return (IRR) increased to 24.38% since inception.

This compares favourably to the IRRs of 9.6% for the Sensex, and 8.8% for the smallcap index in the same period (February 2008 - June 2020) as can be seen in the chart below.

The service's performance did suffer in the short term after the 2018 crash in smallcaps. However, the long term track record and the post Covid rebound underscores the strength of stock picking process.

If you are interested in becoming a Hidden Treasure subscriber, here's where you can sign up.

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

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

What else is happening in the markets today? Dig in...

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Stock Market Updates

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 0.9% (Today's Market)

May 7, 2021 01:12 PM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,188 (up 4.1%). The BSE POWER Index is up by 0.9%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 4.1%) and TORRENT POWER (up 0.3%). The top losers include BHEL (down 0.1%) and JSW ENERGY (down 0.2%).

Sensex Trades Marginally Higher, Dow Futures Up by 22 Points (Today's Market)

May 7, 2021 12:30 pm

BSE Sensex is trading up by 180 points, while the NSE Nifty is trading up by 70 points.

Sensex Gains 400 Points, Nifty Tops 14,850; Banking & Metal Stocks Rally (Today's Market)

May 7, 2021 09:30 am

Indian share markets open on a positive note. The BSE Sensex opened up by 405 points, while the Nifty is trading higher by 121 points.

TATA STEEL at All Time High; BSE METAL Index Up 2.5% (Today's Market)

May 7, 2021 09:34 AM

TATA STEEL share price has hit an all time high at Rs 1,147 (up 3.3%). The BSE METAL Index is up by 2.5%. Among the top gainers in the BSE METAL Index today are TATA STEEL (up 3.3%) and JSW STEEL (up 2.0%).

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 0.9% (Today's Market)

May 7, 2021 09:34 AM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,175 (up 2.7%). The BSE POWER Index is up by 0.9%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 2.7%) and SIEMENS (up 0.2%). The top losers include POWER GRID (down 0.5%) and THERMAX (down 0.7%).

ERIS LIFESCIENCES at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

May 7, 2021 09:34 AM

ERIS LIFESCIENCES share price has hit a 52-week high. It is presently trading at Rs 650. BSE 500 Index is up by 0.7% at 20,055. Within the BSE 500, ERIS LIFESCIENCES (up 7.0%) and IRB INFRA (up 5.3%) are among the top gainers, while top losers are VAIBHAV GLOBAL and SRF.

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