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- Indian Stock Market News July 16, 2021
Sensex Trades Marginally Lower, Dow Futures Up by 18 Points Fri, 16 Jul 12:30 pm
Share markets in India are presently trading marginally lower.
The BSE Sensex is trading down by 52 points, down 0.1%, at 53,108 levels.
Meanwhile, the NSE Nifty is trading down by 7 points.
Divi's Lab and Bharti Airtel are among the top gainers today. HCL Technologies and Tech Mahindra are among the top losers today.
The BSE Mid Cap index is trading up by 0.2%.
The BSE Small Cap index is trading up by 0.1%.
On the sectoral front, stocks from the software sector, are witnessing most of the buying interest.
On the other hand, stocks from the metal sector, are witnessing most of the selling pressure.
US stock futures are trading mixed today.
Nasdaq Futures are trading down by 7 points (down 0.1%) while Dow Futures are trading up by 18 points (up 0.1%).
The rupee is trading at 74.58 against the US$.
Gold prices are trading down by 0.2% at Rs 48,295 per 10 grams.
Gold prices in India today edged lower after rising for three days in a row. On MCX, gold rates were down 0.1% to Rs 48,355 per 10 grams.
In global markets, gold rates were trading higher near a one-month high after the US Fed Chief reassured that he was in no rush to tighten policy. Spot gold was up 0.3% at US$ 1,832.2 per ounce.
Note that large stimulus measures typically tend to support gold, which is often considered a hedge against inflation and currency debasement.
Speaking of the precious yellow metal, 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...
As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.
Even with the recent volatility in prices, gold and silver remain among the best performing commodities this year to combat the fallout from the coronavirus pandemic.
To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?
Speaking of the stock markets, India's #1 trader, Vijay Bhambwani, talks about a new market that the Reserve Bank of India has opened for investors, 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 Angel Broking.
Shares of Angel Broking jumped 20% during early trade today after the company posted strong numbers for the June 2021 quarter. The recently listed broking firm reported a jump of 210% in net profit at Rs 1.2 bn, against a net profit of Rs 382 m in the same period last year.
It had clocked a profit of Rs 997 m in the March 2021 quarter.
The company reported an operational revenue of Rs 4.6 bn, 94.3% higher than its revenue of Rs 2.4 bn in the year-ago period.
The board of directors of the company declared an interim dividend of Rs 5.15 per share with a record date of 26 July 2021.
The company's board has consented to submit an application to the market regulator to obtain approval for acting as a sponsor for its mutual fund business and to constitute a committee.
This committee will oversee the activities related to the proposal of setting up of its mutual fund business.
The board in its meeting also approved the change of name of the company from 'Angel Broking Limited' to 'Angel One Limited' or 'Angel One Fintech Limited' or any other name as may be approved by the Central Registration Center ("CRC') of Ministry of Corporate Affairs.
Shares of Angel Broking were listed in October 2020. The company had issued shares at Rs 306 in its initial offering. The scrip has almost turned four times from the issue price.
We will keep you posted on more updates from this space. Stay tuned.
At the time of writing, Angel Broking shares were trading up by 20% on the BSE.
Moving on to news from the IPO space...
Tatva Chintan Pharma IPO Opens Today: Should You Subscribe?
Tatva Chintan Pharma's initial public offering (IPO) opens its Rs 5 bn public issue today. The issue consists of a fresh issue of Rs 2.25 bn and an offer for sale of Rs 2.75 bn by the promoter and promoter group.
The fresh issue proceeds will be utilised for expansion of its Dahej manufacturing facility and the upgradation of its research and development (R&D) facility in Vadodara.
The price band for the offer, which will close on 20 July 2021, has been fixed at Rs 1,073 - Rs 1,083 per equity share.
Tatva Chintan Pharma Chem is a specialty chemicals manufacturer dealing with a variety of products including structure directing agents (SDAs), phase transfer catalysts (PTCs), pharmaceutical and agrochemical intermediates, and other specialty chemicals (PASCs).
It is the largest and only commercial manufacturer of SDAs for Zeolites in India (second globally). Its products, totalling over 154, have wide applications across automotive, petroleum, agrochemicals, dyes and pigments, paints and coatings, pharmaceutical and personal care.
The company has a strong earnings track record with net profit CAGR at 60% over the financial years 2019-2021.
It's revenues have grown at a CAGR of 21.7%, and earnings before interest, tax, depreciation and amortisation (EBITDA) margin have improved by 6% to 23% over the same period.
Return ratios have also been strong and rising with return on equity (RoE) and return on capital employed (RoCE) for 2021 at 31.5% and 33%, respectively compared to 25.8% and 26.4% in 2019.
How the IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.
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!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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