Upcoming IPOs, Global Stock Market Drivers, and Top Stocks in Action Today

Wed, 25 Sep Pre-Open

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On Tuesday, Indian share markets traded on a volatile note throughout the day and ended their trading session on a flat note.

The BSE Sensex closed higher by 7 points to end the day at 39,097. Infosys and Reliance Industries were among the top gainers.

While the broader NSE Nifty ended down by 12 points to end at 11,588.

Among BSE sectoral indices, IT stocks gained the most, followed by energy stocks and realty stocks.

In the video below, Vijay Bhambwani, editor of Weekly Cash Alerts, gives quick insights on what to expect going forward.

When everyone was busy cheering the tax rate cuts by FM Nirmala Sitharaman, Vijay was the one to notice that just a few minutes later China cut its interest rates.

Tune in to find out his non-mainstream view...

Top Stocks in Action Today

SBI Life Insurance share price will be in focus today as the company has signed a corporate agency agreement with Repco Home Finance (RHFL) to offer the company's range of products to RHFL customers.

Trent share price will also be in focus today as the company has agreed to acquire 51% of the share capital of Booker India, for a consideration of around Rs 220 million.

To know more about the company, you can read Trent's latest result analysis and Trent's 2018-19 annual report analysis on our website.

Market participants will also track TVS Srichakra share price.

The company has launched a new marketing campaign building on the ethos of its new brand TVS Euro grip. The campaign includes a new brand film that accentuates the USP of the brand as a range of specialist high performance bike tyres.

IRCTC IPO

In latest developments from the IPO space, state-owned Indian Railway Catering and Tourism Corp (IRCTC), which sells tickets for Indian Railways and manages its catering services, is planning to launch its initial public offering (IPO) on 30 September.

The proposed IRCTC IPO is expected to see the government sell stake worth Rs 4.8 billion through an offer for sale. The company will announce the price band for the IPO on Wednesday.

As per a leading financial daily, the government is looking to offload up to 20 million shares in IRCTC via the IPO. The stake sale will result in the government reducing its stake in the company by about 12.5%.

IRCTC's business is divided into four segments - internet ticketing, catering, packaged drinking water under the 'Rail Neer' brand, and travel and tourism.

According to the draft red herring prospectus (DRHP) filed with the regulators in August, IRCTC's sales rose 25% year-on-year to Rs 19 billion. Profits grew by 23.5% to Rs 2.7 billion in FY19.

More than half of its revenues at Rs 10.4 billion came from the catering business, while internet ticketing business contributed about 12%.

Note that the plan to launch its initial share sale comes immediately after a sharp turnaround in the Indian stock markets, following the finance minister's announcement last week to cut corporate taxes.

Despite lackluster activity in India's primary markets, there have been attractive money-making opportunities for attentive investors.

Ankit Shah recommended applying to the IPO of Polycab India and the IPO of IndiaMART InterMESH. Both IPOs were subscribed many times over. And both gave handsome double-digit returns on the listing date.

At Equitymaster, we believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

Global Stock Market Drivers

European shares rose on Tuesday, following their worst day in over a month, after Washington said the United States and China would resume trade talks.

Asian shares inched up after the vice head of China's state planner said Beijing will step up efforts to stabilize growth.

Japan's Nikkei ended up by 0.2%. The yen was trading at 107.62 against the US$ at the time of writing. The Japanese currency had touched a two-week high of 107.32 the previous day.

Wall Street looked on track for modest gains, with S&P futures up 0.3%.

Sterling extended gains while eurozone stocks tumbled after Britain's Supreme Court ruled that British Prime Minister Boris Johnson had acted unlawfully when he advised Queen Elizabeth to suspend Parliament this month.

On the commodities front, oil prices dipped on expectations of subdued demand although uncertainty remained about whether Saudi Arabia would be able to fully restore output after recent attacks on its oil facilities.

Here are the important events which are due later today:

• USA's Crude Oil Inventory data
• New Zealand Interest Rates
• India's M3 Money Supply

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

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Indian Share Market Update: Top Gainers and Losers