Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

SAMHI Hotels IPO, PMC Bank Fiasco, and Top Cues in Focus Today
Thu, 5 Dec Pre-Open | Monish Vora, TM Team

Indian share markets ended their day on a positive note yesterday.

At the closing bell yesterday, the BSE Sensex stood higher by 174 points (up 0.4%) and the NSE Nifty closed higher by 43 points (up 0.4%).

The BSE Mid Cap index ended up by 0.5%, while the BSE Small Cap index ended the up by 0.3%.

On the sectoral front, gains were seen in the banking sector and metal sector. Capital goods sector and energy sector, on the other hand, witnessed selling.

Speaking of Indian stock markets, Vijay Bhambwani states why he is positive about the markets and the Indian economy for the next 11 months.

As per Vijay, the US election season is set to have a big impact on India. In the video below, he covers what to expect over the next 11 months. Tune in to find out more...

Top Stocks in Focus Today

From pharma sector, Biocon share price will be in focus today as the company, with its partner Mylan, launched the much-awaited oncology biosimilar of Trastuzumab in the US.

It marks the second biosimilar launch in the US after the company's launch of oncology drug Pegfilgrastim earlier.

Further, Biocon-Mylan will be launching both the strengths (420 mg and 150 mg) of biosimilar Trastuzumab.

Biocon 's prospects continue to be driven by the launch of biosimilars, which is also a key reason for its stock price gaining more than 30% since September lows.

--- Advertisement ---
New FREE Guide: Find the Next Crorepati Stock in this Futuristic Industry

Tanushree Banerjee, the co-head of research, just released her new guide:

Find the Next Crorepati Stock in this Futuristic Industry

And she has agreed to make it available for free for a limited time.

If you've not claimed your free copy, then do so now. It might not remain free for long. One more thing…

Tanushree has also discovered one stock from this futuristic industry… which she strongly believes has the potential to make you a crore or more.

She'll reveal more details about this stock in her first-ever 'One Stock Crorepati MEGA Summit'

We expect this to a huge event… with more than 10,000 people attending it LIVE.

You simply can't miss it.

Click Here to Download the Guide & Block Your Seat Now. It's Free.

The company has been targeting emerging markets which are witnessing strong sales and has also commercialized both insulin and Trastuzumab biosimilars in Australia.

From the , will be in focus today as one of the promoters, Standard Life Investments, offered to offload 2.3% stake in the fund house yesterday.

In a regulatory filing to exchanges, Standard Life proposed to sell up to 4.75 million equity shares of the total issued and paid-up equity share capital of HDFC AMC, with an option to sell additional 3.85 million shares, through offer-for-sale mechanism.

Developments in the IPO Space

SAMHI Hotels has received Indian stock market regulator's go ahead to raise an estimated Rs 18-20 billion through its initial public offering (IPO).

Going by the draft papers, SAMHI Hotels' IPO comprises a fresh issue of Rs 11 billion and an offer for sale (OFS) of 1,91,45,624 equity shares.

Net proceeds of the fresh issue will be utilised towards repayment or prepayment of certain indebtedness by the company and its subsidiaries. Besides, the money will be utilised for general corporate purposes.

Kotak Mahindra Capital Company, CLSA India, DSP Merrill Lynch and Goldman Sachs will manage the offer.

--- Advertisement ---
A One Stock Gift in 1990 is Now Worth Rs 130 Crores. Here's The Full Story...

In 2017, Ravi made headlines by calling into a leading business news channel with a surprising announcement – his grandfather had left him 20,000 shares of only one stock.

And on the day of his call – these shares were worth Rs 130 crore.

Can you guess which is this company?

It's MRF.

Ravi's story is one of the amazing stories of becoming Crorepati from a single stock.

But the question is, how to find that one stock that could make one a crorepati?

To find the answer to this million-dollar question, join our 'One Stock Crorepati' MEGA summit on 20th December, where we will reveal details of what we call a 'crorepati' stock...

We expect this to be the largest ever public event in the history of Equitymaster…

Register NOW and Block Your 'Crorepati' Seat…

As on June 30, 2019, the current portfolio of SAMHI consists of 27 operating hotels across 12 cities.

For operating its hotels, the company has a long-standing relationship with three leading hotel operators --Marriott, IHG and Hyatt, as per the company overview in draft papers.

How this IPO sails through remains to be seen. We will keep you updated on all the news from this space.

Speaking of IPOs, 2019 has seen some of the most mindbogglingly profitable IPOs.

The top six IPOs of the year have given high double-digit and triple-digit returns so far - IRCTC (180%), IndiaMART InterMESH (121%), Affle India (105%), Neogen Chemicals (73%) and Polycab India (72%).

In a recent edition of The 5 Minute WrapUp, Ankit Shah shares how IPOs offer insights into the mood of the stock markets.

He picked the six most successful IPOs of the year and checked the retail investor enthusiasm for them.

Obviously, all these IPOs were oversubscribed across investor categories. But the level of retail investor enthusiasm differed widely, depending on the overall market sentiments.

Here's what Ankit wrote about it...

  • Clearly, IRCTC witnessed the highest number of bids for the retail category. Factoring in the discount of Rs 10 per share for the retail category, the total bids were worth a whopping Rs 3,242 crore. Over five times the entire IPO size!

    Polycab India and the recent IPO of CSB Bank also received a strong thumbs-up from retail investors.

Does this hint that retail investors are coming back to the markets? Could we witness of flurry of IPOs in the coming months?

Ankit is keeping a close watch and going to pick all the profitable IPOs for his readers at Insider.

PMC Bank Saga Continues...

23 individuals comprising senior bankers, directors and account holders of Punjab & Maharashtra Co-operative (PMC) Bank had allegedly withdrawn around Rs 700 million, days before the Reserve Bank of India (RBI) imposed a clampdown on the lender.

Officials at the Economic Offence Wing (EOW) of the Mumbai Police said these individuals withdrew the money between September 7 and September 19.

On September 21, the bank's managing director, Joy Thomas, wrote to the RBI about alleged violations of regulations and irregularities in its dealings and two days later, the central bank put restrictions on the bank, including a Rs 1,000 cap on withdrawals.

The limit has since been increased in phases, to Rs 50,000 now.

Grant Thornton, which conducted a forensic audit of the bank, has pegged the alleged fraud at Rs 66.7 billion in its draft report, the EOW officials said.

The amount was earlier estimated to be Rs 43.6 billion. The audit has also found alleged misappropriation of Rs 50 million by bank employees.

The city police on Tuesday arrested three more directors of the bank. So far, 12 people including two promoters of real estate firm HDIL, three auditors and seven former directors have been arrested in the case.

Note that the PMC bank fiasco has put small savers in the limelight yet again. These banks have poor lending practices. Depositors have had to pay the price time and again.

In the short run, this has an adverse effect on microfinance lending as well. Micro finance institutions (MFIs) are skeptical about lending to even genuine borrowers in an uncertain environment.

But this is actually a blessing in disguise for MFIs with strong business practices.

After all, last mile connectivity in lending is still a huge opportunity.

Here's what Tanushree Banerjee wrote about this in one of the editions of The 5 Minute WrapUp...

  • The average ticket size of a microfinance borrower in India is around Rs 38,000 which is much lower than the global average (Rs 65,000).

    The sector itself has grown at an average annual rate of 27% for the last 4 years.

    Still states like Uttar Pradesh, Bihar, and Madhya Pradesh with a large rural population are highly under-penetrated even today.

A private bank that is part of Tanushree's 7 stocks to buy list has already taken a step in this direction.

It will be a big beneficiary when the microfinance boom plays out in India.

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

Equitymaster requests your view! Post a comment on "SAMHI Hotels IPO, PMC Bank Fiasco, and Top Cues in Focus Today". Click here!


Stock Market Updates

Sensex Ends 428 Points Higher; Metal and IT Stocks Witness Buying (Today's Market)

Dec 13, 2019 Closing

Indian share markets end on a positive note with the Sensex up by 428 points, while the Nifty closed up by 115 points.

INFO EDGE Surges by 5%; BSE IT Index Up 1.7% (Today's Market)

Dec 13, 2019 03:32 PM

INFO EDGE share price has surged by 5% and its current market price is Rs 2,658. The BSE IT is up by 1.7%. The top gainers in the BSE IT Index are INFO EDGE (up 5.3%) and FIRSTSOURCE SOL. (up 5.2%). The top losers is ECLERX SERVICES (down 2.2%).

PC JEWELLER Surges by 11%; BSE 500 Index Up 1.0% (Today's Market)

Dec 13, 2019 03:22 PM

PC JEWELLER share price has surged by 11% and its current market price is Rs 26. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are PC JEWELLER (up 10.8%) and UCO BANK (up 11.5%). The top losers are HUL and GILLETTE INDIA .

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

Dec 13, 2019 03:14 PM

GUJARAT GAS share price has hit a 52-week high. It is presently trading at Rs 232. BSE 500 Index is up by 1.0% at 15,534. Within the BSE 500, GUJARAT GAS (up 1.9%) and TRIDENT (up 13.5%) are among the top gainers, while top losers are MANPASAND BEVERAGES and IFB INDUSTRIES LTD.

GE T&D INDIA Surges by 5%; BSE CAPITAL GOODS Index Up 1.2% (Today's Market)

Dec 13, 2019 02:48 PM

GE T&D INDIA share price has surged by 5% and its current market price is Rs 157. The BSE CAPITAL GOODS is up by 1.2%. The top gainers in the BSE CAPITAL GOODS Index is GE T&D INDIA (up 5.0%). The top losers are SKF INDIA (down 0.1%) and SIEMENS (down 0.2%).

PRESTIGE ESTATES Surges by 6%; BSE REALTY Index Up 1.8% (Today's Market)

Dec 13, 2019 02:46 PM

PRESTIGE ESTATES share price has surged by 6% and its current market price is Rs 328. The BSE REALTY is up by 1.8%. The top gainers in the BSE REALTY Index is PRESTIGE ESTATES (up 6.0%). The top losers is GODREJ PROPERTIES (down 1.3%).

View More Indian Share Market News

Most Popular

Use My Secret to Increase Your Trading Profits Today

Dec 10, 2019

What to do after every trade.

A Simple, 7-Step Checklist for Your Trading Success

Dec 4, 2019

What we can learn from one of the greatest traders to have ever lived.

Blue Chips Are Passe. Get into these Stocks for Outstanding Gains in 2020(Profit Hunter)

Dec 5, 2019

This corner of the market could provide more returns than blue chips in 2020.

Make the Most of the Smallcap Rebound with These Stocks(Profit Hunter)

Dec 3, 2019

Even amid a gloomy economic scenario, there are smallcaps that have grown earnings over last one and a half year and I believe these could be the strongest candidates for a smallcap rebound.

What Is the IPO Euphoria Signaling Us About the Markets?(The 5 Minute Wrapup)

Dec 2, 2019

2019 will be remembered as the year of great money-making IPOs...


Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms


Dec 13, 2019 (Close)