Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

SGX Nifty Trades Lower, Godavari Biorefineries IPO, Tata Steel Stock Split, and Top Buzzing Stocks Today
Mon, 18 Apr Pre-Open

On Wednesday, Indian share markets witnessed negative trading activity in the second half and ended near the day's low.

Benchmark indices retreated and ended the holiday-truncated week on a negative note, tracking weakness in global markets and some profit-booking.

Market participants weighed inflation risks against the start of the earnings season and remained cautious ahead of crucial macroeconomic data announcements.

At the closing bell on Wednesday, the BSE Sensex dropped 237 points, down 0.4%. While the NSE Nifty ended down by 55 points or 0.3%.

Profit booking in financial stocks and banks dragged the Nifty private bank index down by 1% while the metal index added 0.6%.

Maruti Suzuki, HDFC twins, Tata Motors, and Dr Reddy's Lab were among the top losers.

ONGC, ITC, and Sun Pharma, on the other hand, were among the top gainers.

In the broader market, the BSE Midcap index slipped 0.2% while the BSE Smallcap index rose 0.3%.

FMCG, capital goods, oil and gas, and metals stocks rose. While automobile, banks, and realty stocks witnessed selling.

At 8 AM today, the SGX Nifty was trading down by 28 points indicating a negative opening for Indian share markets.

Speaking of stock markets, Research Analyst and Chartist at Equitymaster Brijesh Bhatia discusses defence stocks, in his latest video.

As per Brijesh, defence stocks are breaking out and showing a breakout pattern on technical charts.

Tune in to the below video to know more:

Top stocks in focus today

BPCL share price will be in focus today.

Bharat Petroleum Corporation last week said it will invest around Rs 2 bn this fiscal to set up 100 fast electric vehicles (EV) charging corridors having 2,000 stations along the busiest 100 national highways.

The public sector oil marketing company recently opened its first EV charging corridor along the Chennai-Trichi-Madurai highway with one charging unit.

HDFC Bank share price will also be in focus today.

The country's largest private sector lender reported a 23% jump in standalone net profit to Rs 100.6 bn for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed.

Market participants will also track shares of Tech Mahindra as the homegrown IT major announced a collaboration with Keysight Technologies to certify 5G vendors' equipment at its O-RAN (open radio access network) lab in New Jersey, the US.

Tata Steel stock split

The board of Tata Steel is going to meet in early May to consider a stock split.

In a regulatory filing on Sunday, the company said its board will meet on 3 May 2022 to consider a proposal for sub-division of the equity shares of the company having a face value of Rs 10 each, in such manner as may be determined by the Board of Directors.

The company did not elaborate on the ratio of the split. It will likely be announced after the board approves the proposal.

Note that Tata Steel shares have surged over five-fold from the lows of March 2020.

A stock split activity is done by the company to increase liquidity in the counter after the price of a stock surges too much.

Tata Steel's board will also consider and take on record the quarterly and yearly earnings during the meeting. It may also announce a dividend payment for its investors.

Godavari Biorefineries to launch Rs 7 bn IPO

In latest developments from the IPO space, Godavari Biorefineries on Sunday said it is watching the geo-political situation and will make its share market debut at the right time.

The ethanol and bio-based chemicals maker's CEO and Managing Director Samir Somaiya said that the company has already received the market regulator's final approval for its initial public offering (IPO).

The company has time till November this year to list the IPO.

According to sources, the cumulative size of IPO would be over Rs 7 bn from a mix of primary and secondary offerings.

Mumbai-headquartered Godavari Biorefineries exports both sugar and bio-chemicals. It has customers from over 20 countries.

We will keep you updated on the latest developments from this space. Stay tuned.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "SGX Nifty Trades Lower, Godavari Biorefineries IPO, Tata Steel Stock Split, and Top Buzzing Stocks Today". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.