Sensex Trades Marginally Lower; Reliance Industries & Yes Bank Top Losers

Fri, 7 Jun 12:30 pm

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Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the energy sector and healthcare sector witnessing selling pressure while telecom stocks and consumer durable stocks are trading in green.

The BSE Sensex is trading down by 56 points (down 0.1%), while the NSE Nifty is trading down by 10 points (down 0.1%). The BSE Mid Cap index and the BSE Small Cap index are trading on a flat note.

The rupee is currently trading at Rs 69.35 against the US$.

Speaking of Indian stock markets, note that the Sensex, BSE Midcap index and BSE Smallcap index have had differing degrees of volatility over past fifteen years.

But the returns from the three different indices are mostly in line since 2004. Rs 100 invested in any of these indices in 2004 would have yielded about Rs 700 by March 2019.

In fact, as we can see in the chart below, the gap in the compounded annual return of the Sensex and Smallcap index is less than 1%.

Difference in 15-year CAGR of Sensex and BSE Smallcap Index is Less than 1%

This shows that while small caps are a good place to look for big returns, blue chips can also offer you big returns over long time frames.

In fact, as per Tanushree, the best contrarian bets on such safe stocks could even offer you handsome three digit returns.

Indiabulls Real Estate share price is witnessing buying interest today after the promoters sold 14% of their holding in the company through open market. Data showed that 61.3 million shares changed hands on the BSE in a single transaction.

The company in a regulatory filing said, 'in line with company's promoters' strategy to focus on financial services in the long run, the promoters intend to dispose-of up to 14% of the fully paid-up share capital of the company to third party investors'.

President of Indiabulls Group, Ajay Mittal added that the chief reason behind exiting real estate business was to fast track the Lakshmi Vilas Bank merger.

Reports state that, Blackstone Group and Bengaluru-based property developer Embassy Group are set to jointly acquire the promoters' stake at an estimated enterprise value of around US$ 1 billion.

Earlier, news reports suggested the Blackstone-Embassy Group JV was set to acquire the entire 39% stake of Indiabulls Group chairman Sameer Gehlaut in the company.

Indiabulls Real Estate has been selling its commercial assets to Blackstone. In December 2018, it sold 50% stake in two office assets in Gurgaon to Blackstone at an enterprise value of Rs 4.6 billion.

The company also sold 50% stake in its two prime commercial assets in Mumbai to Blackstone for an enterprise value of Rs 95 billion.

Moving on to the news from the steel sector, JSW Steel has agreed to acquire 10,000 shares of Piombino Steel from JSW Techno Projects Management.

Further, Piombino Steel shall acquire 8,000 shares, comprising the entire issued and paid-up share capital of Makler from JSW Techno Projects Management.

After this transaction, Piombino Steel will become a wholly owned subsidiary of the company and Makler will become a wholly owned subsidiary of Piombino Steel.

In other news, the company is also weighing options for British Steel Ltd. A team from JSW Steel has reportedly started looking at the company and its prospects.

British Steel, which produces products used in construction and rail networks, went into administration last month following the collapse of talks between Greybull Capital, the private equity owner of British Steel, and the UK government for a £30-million loan.

Reports state that, British Steel has 3 million tonnes of steel-making capacity in Sculthorpe, UK, and rolling mills specializing in rail, construction steel, special steel and wire rod across the UK, France and the Netherlands.

Speaking of acquisitions, JSW Steel has made a series of acquisitions in the past year. In May 2018, it bought Italy's second largest steel plant Aferpi for Rs 6 billion and in June, it committed Rs 34 billion to acquire and upgrade US-based integrated steel plant Acero Junction.

JSW also acquired Monnet Ispat through the insolvency courts for Rs 28.8 billion in a consortium with AION Investments. The company's bid of Rs 197 billion for Bhushan Power and Steel is awaiting court approval.

JSW Steel share price is presently trading up by 0.5%.

To know more about the company, you can read JSW Steel's latest result analysis on our website.

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

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