Indian Indices Erase Gains; FMCG and Metal Stocks Fall

Mon, 16 Dec 12:30 pm

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Share markets in India have erased early gains and are presently trading on a volatile note.

Sectoral indices are trading mixed with stocks in the FMCG sector and metal sector witnessing selling pressure, while IT stocks and healthcare stocks are witnessing buying interest.

The BSE Sensex is trading up by 13 points, while the NSE Nifty is trading down by 4 points. The BSE Mid Cap index is trading down by 0.2%, while the BSE Small Cap index is trading up by 0.2%.

The rupee is currently trading at Rs 70.93 against the US$.

Speaking of Indian stock markets, smallcap analyst Richa Agarwal talks about the ongoing economic slowdown, an upcoming rebound in the small cap space, and her number 1 stock pick for 2020 in the video below.

Tune in to find out more...

In latest developments from the IPO space, Prince Pipes and Fittings, India's third-largest PVC pipes manufacturer, is planning to raise about Rs 5 billion through an initial public offer (IPO) this week.

The issue of the Mumbai-based Prince Pipes will open for subscription between December 18 and December 20.

The firm is looking to raise Rs 5 billion via the IPO, of which Rs 2.5 billion will be fresh issue and the remaining portion would see its promoters selling their stakes partially.

The price band has been fixed at Rs 177 to Rs 178 per share.

The company plans to use Rs 1.8 billion of the net proceeds towards setting up a new plant at Sangareddy in Telangana. The firm plans to start production at the plant by fiscal year 2021, and expects its installed capacity to reach 51,943 tonnes per annum.

The remaining funds would be used for repayment of certain outstanding loans and upgrading equipment at its manufacturing facilities.

How this IPO sails through remains to be seen. Stay tuned for more updates from this space.

Speaking of IPOs, 2019 has seen some of the most mindbogglingly profitable IPOs.

The top six IPOs of the year have given high double-digit and triple-digit returns so far - IRCTC (180%), IndiaMART InterMESH (121%), Affle India (105%), Neogen Chemicals (73%) and Polycab India (72%).

In a recent edition of The 5 Minute WrapUp, Ankit Shah shares how IPOs offer insights into the mood of the stock markets.

He picked the six most successful IPOs of the year and checked the retail investor enthusiasm for them.

Obviously, all these IPOs were oversubscribed across investor categories. But the level of retail investor enthusiasm differed widely, depending on the overall market sentiments. This can be seen in the chart below:

Are Retail Investors Back in the IPO Game?

Here's what Ankit wrote about it...

• Clearly, IRCTC witnessed the highest number of bids for the retail category. Factoring in the discount of Rs 10 per share for the retail category, the total bids were worth a whopping Rs 3,242 crore. Over five times the entire IPO size!
  
  Polycab India and the recent IPO of CSB Bank also received a strong thumbs-up from retail investors.

Does this hint that retail investors are coming back to the markets? Could we witness of flurry of IPOs in the coming months?

Ankit is keeping a close watch and going to pick all the profitable IPOs for his readers at Insider.

Moving on to news from the pharma sector, Glenmark Pharma share price is in focus today.

Shares of the company gained over 3% today after the company's Baddi manufacturing unit received GMP certificate from a European regulator.

The company's Baddi manufacturing unit was inspected by the leading European regulator, SUKL (State Institute for Drug Control) from Czech Republic in the week of October 21, 2019.

The European regulator has issued a certificate of compliance for the facility stating that it complies with the principles and guidelines of good manufacturing practice laid down in the directive 2003/94/EC which stipulates the requirements to fulfil GMP recommendations of World Health Organization (WHO).

To know more about the company, you can read Glenmark Pharma's 2018-19 annual report analysis on our website.

And 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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