Asian stock markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.6% while the Hang Seng is down 0.5%. The Shanghai Composite is trading down by 0.1%. Meanwhile, the S&P 500 and Dowended down slightly on Thursday as gains in Apple and Amazon were offset by losses in energy and financial shares.
Back home, India share markets have opened the day on a lower note. The BSE Sensex is trading down by 75 points while the NSE Nifty is trading down by 23 points. The BSE Mid Cap index opened and BSE Small Cap index both opened the day up by 0.1%.
The rupee is currently trading at 68.62 to the US$.
Sectoral indices have opened the in on a mixed note with realty stocks and automobile stocks witnessing maximum buying interest. While, bank stocks and PSU stocks have opened the day in red.
In the news from the aviation sector. Jet Airways share price plunged over 8% in the opening session after it was reported that the company has deferred announcing the June quarter numbers to an unspecified late date.
Reportedly, the audit committee did not recommend financial results to the board for its approval, pending closure of certain matters.
Amid rising concerns over the airline's financial health and proposed salary reductions for employees, the Jet Airways chairman said a new committee would be set up to improve public perception and negative publicity about it.
Notably, the Jet counter has slumped over 12% since July 2, it touched a 52-week low of Rs 287. From its 52-week high of Rs 883.7 on 5 January 2018, the counter tumbled over 68% to hit a one-year low of Rs 278.
In such an environment, it makes sense for investors to be selective while buying stocks. Focus on value and the underlying fundamentals of the business. Then, they need not worry about the market.
So, what is key to identifying potential multibagger stocks?
Most importantly, are there any stocks right now that could turn out to be multibaggers? Click here to know everything that you need to know right now about mutlibagger stocks...
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
Meanwhile, in the latest edition of our stock market podcast, we talk to Rahul Shah, Co-Head of Research, about his buy-list for this market. Have a question for Rahul? Write in. Don't miss it! Sign up for our free podcast today. Visit SoundCloud, iTunes or Stitcher.
Moving on to the news from IPO space. As per an article in a leading financial daily, Dodla Dairy, a leading dairy company headquarters at Hyderabad, on Thursday filed draft papers with capital markets regulator to float an initial public offering.
The initial public offer (IPO) comprises fresh issuance of shares worth up to Rs 1.5 billion, besides, an offer for sale of up to 9.5 million equity shares by TPG Dodla Dairy Holdings Pte Ltd and Dodla Deepa Reddy.
The company's operations in India are primarily across the four south Indian states of Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its international operations are based in Uganda and Kenya.
Speaking of IPOs, the stock market is gearing up for a burst of IPO activity.
According to EY India IPO Readiness Survey Report, globally, Indian exchanges recorded the highest IPO activity as the country saw 90 IPO launches that raised US$ 3.9 billion in the first half of this year.
Meanwhile, the amount raised by SME IPOs in 2017 stood at Rs 17.9 bn. This is more than three times the amount raised in 2016. The number of SME IPOs launched also doubled from 66 to 132. This is evident from the chart below:
SME IPO Boom in 2017
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.
To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.
This article was originally published in English at www.equitymaster.com
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