Sensex Trades Over 600 Points Higher; Dow Futures Up by 136 Points

Tue, 19 Jan 12:30 pm

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

The BSE Sensex is trading up by 642 points, up 1.3% at 49,206 levels.

Meanwhile, the NSE Nifty is trading up by 185 points.

Grasim and Bajaj Finserv are among the top gainers today. Tech Mahindra and Mahindra & Mahindra are among the top losers today.

The BSE Mid Cap index is trading up by 1.8%.

The BSE Small Cap index is trading up by 1.6%.

On the sectoral front, all sectors are trading in green with stocks from the real estate sector, witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 110 points (up 0.9%) while Dow Futures are trading up by 136 points (up 0.4%).

The rupee is trading at 73.21 against the US$.

Gold prices are trading flat at Rs 48,895 per 10 grams.

In global markets, gold prices today inched higher. Spot gold rose 0.1% after prices dipped to over one-month low in the previous session.

Tracking flat global rates, gold prices were mixed in Indian markets. On MCX, gold futures dipped 0.1% to Rs 48,846 per 10 grams. In the previous session, gold had finished 0.4% higher, after hitting the lowest level in over a month.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report, talks about why it might be the right time to take money off the table in pharma stocks, in his latest video for Fast Profits Daily.

Tune in here to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Indiabulls Real Estate.

Commercial and residential real estate developer, Indiabulls Real Estate's profit for the quarter ended December jumped 64% to Rs 806 million from Rs 492 million in the same period last year.

The company's revenue from operations, however, fell 41% year-on-year (YoY) to Rs 7.2 billion from Rs 12.3 billion while it clocked new sales worth Rs 9.9 billion.

The total net surplus from completed inventory, sold receivables and ongoing projects is Rs 113.9 billion.

"Affordability of real estate is at a multi-year high with declining interest rates. We are seeing high demand for our completed products, and continue to expect robust collections for the rest of the financial year," the Gurugram-based company said.

Highlighting the progress of Indiabulls Real Estate's proposed merger with NAM Estates & Embassy One Commercial Property Developments, the company said all administrative points are clarified and the approvals are expected anytime.

The assets of Embassy Group will merge into Indiabulls Real Estate, to create one of India's largest listed real estate companies. The merged entity will have a balanced mix of commercial and residential assets which should provide a natural hedge against cyclicality.

At the time of writing, Indiabulls Real Estate share price was trading up by 11.5% on the BSE.

Speaking of smallcaps, note that since the lows in March 2020, the smallcap index has gained more than 100%.

While caution is indeed warranted, Richa Agrawal, Research Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rally.

Despite rallying more than 100% since the March 2020 lows, Richa believes small-cap stocks are set for a massive up move in 2021 and beyond. Here's what she wrote in a recent edition of Profit Hunter...

• The P/E for smallcap index doesn't make sense. There are thousands of listed small companies. Some have negative earnings. The base is not a valid data to work with.
  
  That said, the closest proxy to relative valuations is the Smallcap to Sensex ratio,
  
  Historically, this ratio has averaged 0.43x. In the previous mega runs of the smallcap index, this ratio has gone as high as 0.75x.
  
  In January 2018, when smallcaps peaked, the ratio was at 0.58x.
  
  Guess where this ratio is now after a 100% run up in the smallcap index?
  
  0.38.
  
  It's lower than the median over 2 decades.

Richa believes if you focus on the quality of business, margin of safety in valuations, and an optimum asset allocation, you are likely to create huge wealth for yourself.

Moving on to news from the energy sector...

French Energy Giant Total Puts US$ 2 Billion Into Adani Green

Adani Green Energy (AGEL) on January 18 said that French energy giant Total SA will acquire 20% minority interest in the company from Adani Group. The deal, valued at around US$ 2 billion, will also provide Total a seat on the board of directors of AGEL.

The transaction follows Total investing US$ 510 million in April 2020 for the acquisition of 50% stake in AGEL's 2,353 megawatt (MW) operational solar project in the country.

The acquisition is part of Total's target of building a portfolio of 35,000 MW of renewable energy capacity globally by 2025.

Currently, AGEL's operational renewable energy portfolio stands at 3,000 MW, with an equal capacity under construction. The average rate at which AGEL sells power is Rs 3.3/unit. Though it is higher than the record low rates of Rs 2/unit discovered in recent solar auctions, the tariff is lower than the average power purchase cost of Rs 3.6/unit to discoms across the country.

Total has partnered with Adani to increase its presence in the country on other energy fronts as well. In October 2019, the two companies had formed a 50:50 venture to jointly own and operate several assets across the gas value chain, including imports and regasification liquefied natural gas (LNG) terminals.

Total has also taken over a 37.4% stake in Adani Gas and 50% stake in Adani's Dhamra LNG project in Odisha. The two companies plan to establish a joint venture to market LNG in India and Bangladesh and set up a retail network of 1,500 fuel service stations over a period of 10 years.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

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!

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