Sensex Touches Record High; FMCG Stocks Witness Buying

Wed, 26 Apr 11:30 am

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After opening the day on a positive note, Indian share markets have continued their momentum and are presently trading in the green. Sectoral indices are trading on a positive note with stocks in the FMCG sector and metal sector leading the gains.

The BSE Sensex is trading up 186 points (up 0.6%) and the NSE Nifty is trading up 50 points (up 0.5%). The BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 0.3%. The rupee is trading at 63.98 to the US$.

Indian stock markets are witnessing buying interest today on the back of a host of domestic as well as global factors. Owing to this, the Sensex touched its 30,000 mark today. The momentum is aided by strong global cues, strengthening of rupee, and quarterly results announcements by various companies.

The only question is will the above rally continue this momentum?

For Indian stock markets, our research in March revealed that, in aggregate, the profit margins of Sensex companies were trading at ten-year lows. So, if profit margins were to revert to their long-term averages, the Sensex may hit 40,000 three to four years down the line. To know more on this, you can download our Sensex 40,000 report.

In the news from the initial public offering (IPO) space, the bidding process of S Chand, the 7.2 billion IPO kicks off today. The company has set the price band for the IPO at Rs 660-670 per share and the minimum bid lot at 22 shares.

The IPO includes fresh issue of share worth up to Rs 3 billion and an offer for sale (OFS) of 60 lakh shares by the existing shareholders.

S Chand is a leading Indian education content company (in terms of revenue from operations in FY16). The company delivers content, solutions and services across the education lifecycle through its K-12, higher education and early learning segments. It is the leading K-12 education content company with a strong presence in the CBSE/ICSE affiliated schools and increasing presence in the state board affiliated schools across India.

We will shortly release a note on the above IPO. To know our view on the latest IPOs, you can visit our IPO page.

Speaking of IPOs, a dozen of IPOs are lined up in the upcoming months. And given the recent buoyancy surrounding IPOs, market participants are looking forward to most of the upcoming issues. The buoyancy in the IPO space can be seen from the huge retail participation in some of the recent IPOs.

Huge Retail Participation in IPOs

But no matter what picture the present trend paints, one should look at the fundamentals of the business and the attractiveness of valuations in each and every IPO.

One of our editions of The 5 Minute WrapUp offers two ways to think about IPOs and explains how to profit from them. Further, in case you wish to run IPOs through a handy checklist, we have something for you. Download our Handbook of IPOs to be able to pick only the right ones for you.

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

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