Future Retail's Stake Buyout, Gold Witnesses Volatility, and Top Cues in Focus Today

Mon, 15 Jun Pre-Open

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Indian share markets ended on a positive note on Friday.

Benchmark indices tumbled in the opening trade on Friday last week, following US and Asian peers that fell amid worries over resurgence in Covid cases and a gloomy economic projection.

However, markets staged a smart rebound and recovered during closing hours, led by gains in automobile, telecom and energy stocks.

At the closing bell on Friday, the BSE Sensex recovered over 1,400 points from day's low and stood higher by 243 points (up 0.7%) to end the day on a positive note.

Meanwhile, the NSE Nifty closed higher by 71 points (up 0.7%).

Gains were largely seen in the automobile sector and telecom sector.

Meanwhile, IT stocks were among the hardest hit.

The BSE Mid Cap index ended up by 1%, while the BSE Small Cap index ended up by 0.1%.

Speaking of stock markets, note that the last two and a half months have been a roller coaster ride for Indian share markets. After a sharp correction of 33% from the peak, stock markets witnessed a sharp rebound, and then flip flopped last week amid global sell off.

In the video below, Richa Agarwal, editor of our premium smallcap service Hidden Treasure, shares her thoughts on the implications of market volatility for potential returns in the smallcap space.

Tune in to find out more...

Top Stocks in Focus Today

Market participants will be tracking penny stocks in today's market trade. This comes as penny stocks have delivered eye-popping gains in the recent market rebound from the lows of March 24, when Sensex and Nifty had scaled their fresh 52-week lows.

Shares of real estate firm Prozone Intu Properties have more than doubled since April after ace investor Radhakishan Damani acquired more than one percentage stake in the company during the March quarter (Q4FY20).

Meanwhile, shares of Vodafone Idea have rallied as much as 200% from Rs 3.36 on March 24 to Rs 10.08 earlier this week on June 9.

Another penny stock, Birla Tyres has rallied more than 780% from Rs 2.78 on March 24 to Rs 26.90.

Penny stocks are those stocks that are trading for below or around Rs 50. This follows the traditional idea of penny stocks i.e. stocks under US$ 1.

To know more, you can check Rahul Shah's penny stock recommendation service Exponential Profits (requires subscription).

From the pharma sector, Biocon share price will be in focus today as the company said that its biosimilar insulin glargine, co-developed with Mylan, has been approved by the US Food and Drug Administration (USFDA). The regulator has given nod to the insulin, Semglee, in vial and pre-filled pen format to control high blood sugar in both Type 1 and Type 2 diabetes patients.

Akzo Nobel share price will also be in focus as the company's revenue fell 5% for its first quarter and that revenue for April and May was even weaker amid the coronavirus. The Dutch paints-and-coatings company said that Asia was its most affected market in the first three months of the year, with other regions hit from the second half of March onward.

Gold Trades on a Volatile Note

In news from the commodity space, domestic gold prices traded on a volatile note last week. Prices fell sharply on Friday after rallying in the previous session. On MCX, August gold futures fell 0.7% to Rs 47,065 per 10 gram after a Rs 800 rally seen on Thursday last week.

In global markets too, gold prices witnessed volatility last week as a stronger US dollar offset rising safe-haven demand amid gloomy economic projections and renewed fears over a second wave in coronavirus cases.

Note that global gold rates have rallied about 20% since touching an over three-month low of US$ 1,451 in mid-March.

We will keep you updated on how gold performs this week. Stay tuned.

Speaking of gold, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

Gold Has Been a Shining Long-Term Investment

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

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

• In fact, gold has delivered double-digit gains in 10 of the last 15 years.
  
  During the entire 15-year period, gold has shot up 555% (compounded annual return of 12.1%).
  
  During the same period, the Sensex surged 511% (compounded annual return of 12.0%). If you include dividends, the Sensex returns would be higher than gold by a couple of percentage points.
  
  One must note that the Sensex returns are not representative of the broader market returns. Moreover, gold was a no-brainer. You didn't have to study financial statements, business models and forecast future earnings growth to get a double-digit return on your investment.

In one of his recent videos, Vijay Bhambwani, editor of Fast Profits Daily explains why this year's US presidential elections could be bullish for gold.

As per him, the US presidential cycle may not be as predictable this time as it usually is. But there is good money to be made if you can play this trend correctly.

He shows a simple way to profit from this important event.

Tune in to know more: This Year's US Presidential Cycle Could Be Bullish for Gold and Silver

Samara Capital, Reliance Retail Among Suitors for Future Retail Buyout

As per an article in a leading financial daily, several suitors, including Reliance Retail and private equity firm Samara Capital, are in advanced talks to buy a stake in Kishore Biyani's Future Retail, which runs the popular BigBazaar supermarket stores.

Biyani's debt-related woes surfaced in March when shares of his listed firms plunged, triggering a rating downgrade of the promoter holding firm and invocation of pledged shares by lenders.

The stake sale will help the group pare its large debt.

Reportedly, while Samara is eyeing a stake in Future Retail, a possible deal with Reliance could also involve the group's apparel retail business Future Lifestyle Fashion.

Samara, in partnership with US e-commerce giant Amazon.com Inc., owns supermarket chain More. Amazon is also an existing investor in Future Retail, through its investment in promoter group company Future Coupons.

On May 4, ICRA downgraded Future Corporate Resources, a promoter group entity, to D, after it defaulted on coupon payments.

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

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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