The Nikkei fell 0.8% while the Shanghai Composite is flat. Hang Seng is trading with a gain of 0.3%.
In US stock markets, Wall Street indices fell but well from their lows of the day, with the Nasdaq rebounding late in the session as some investors looked for bargains despite concerns about rising interest rates. .
The Dow Jones Industrial Average fell 0.5% while the Nasdaq Composite gained 0.1%.
Back home, Indian stock markets are trading on flat note,
Market participants will be tracking the stocks of Delta Corp, National Standard, Radhe Developers and Earm Pharmaceuticals as these companies announce their December quarter results today.
BSE Sensex is trading up 34 points. Meanwhile, NSE Nifty is trading with a gain of 6 points.
HCL Tech and NTPC are among the top gainers today. On the other hand, Tata Steel is the biggest loser today.
Both BSE Mid Cap Index and BSE Small Cap Index are trading on a flat note.
Sectoral indices are trading mixed with stocks in IT sector and healthcare sector showing buying interest.
Metal shares, on the other hand, are trading in the red.
Shares of Greaves Cotton and Suzlon Energy hit 52-week highs today.
Shares of Vodafone Idea crashed 15% after the company said the government would own about 36% in the wireless phone operator after its board approved conversion of dues into equity.
Rupee is trading at 73.91 against US Dollar.
Gold prices up 0.2% 47,528 per 10 grams.
Meanwhile, silver prices are trading with a gain of 0.2%. 60,775 per kg.
Crude oil prices rose today after two days of losses, with some risk appetite in the market waiting for clues to a possible rate hike from the US Federal Reserve chairman and some oil producers struggling to ramp up production. to continue.
In news from the pharma space, Aurobindo Pharma has initiated talks with private equity funds to sell around 30-35% stake in its injectable business. 45-52.5 billion as the Hyderabad-based drugmaker plans to unlock value in its core businesses.
TPG Capital Management, Advent International, Bain Capital and Blackstone have been pooled for potential transactions, valuing the business. 150 billion Carlyle Group and PAG are two other companies that have been approached for a possible deal.
As part of expanding the injectables business, Aurobindo is setting up a dedicated injection facility in Vizag for the European Union and other global markets, the company said in its latest annual presentation.
Aurobindo has built a strong presence in injectables in delivery systems such as liquid and lyophilized vials, bags, ampoules, and prefilled syringes. It has completed construction of an injectable facility in the US.
It remains to be seen how the stake sale pans out.
In news from PSU space, RailTel Corporation of India is one of the top buzzing stocks today. RailTel Corporation of India has made an interim announcement Dividend at the rate of 17.5% of the paid-up share capital for the financial year 2021-22.
The total dividend payout is approx. 560 metres, said the Public Sector Unit (PSU) of the Central Government under the Ministry of Railways.
The decision on interim dividend was taken in the meeting of the Board of Directors on Monday.
The Board also approved 21 January 2022 as the record date for payment of interim dividend for 2021-22.
Company’s CMD Puneet Chawla said that RailTel has remained a profitable company continuously since the financial year 2006-07. Despite the challenge posed by the COVID pandemic, RailTel has managed to grow rapidly and reported its highest ever consolidated earnings in FY21. 14.1 billion, an increase of 21%.
He added that RailTel currently has a healthy order book of 53 billion
The company is continuously expanding its existing business and continuously exploring new areas and activities to broaden its profile.
RailTel Corp share price is currently trading on a flat note.
Coming to PSUs, take a look at the chart below which shows the performance of BSE PSU Index vis–vis BSE Sensex over the past few years.
see full image
As can be seen from the chart above, over the past decade, 100 rupees invested in BSE PSU index will fall 80, compared to almost 3x gains for the Sensex.
Here’s what Richa Agarwal, Lead Smallcap Analyst at Equitymaster, wrote about PSU stocks in an edition of Profit Hunter:
However, it would be foolish to paint all PSUs with the same brush. There are exceptions in this area, which put their personal peers to shame. In an editorial, I shared an opportunity in a PSU stock that is riding and enabling an irreversible megatrend – digitization.
Moving on to the realty sector news, global investment firm Blackstone has sold its entire 9.16% stake in Mindspace Business Parks REIT.real estate investment trust) For 17.4 billion through open market transactions.
The units were bought by Platinum Illumination Trust in a wholesale deal on the stock exchanges.
As per BSE wholesale deal data, Platinum Illumination A 2018 Trust bought over 54.3 million units at an average price. 320.
Yesterday, shares of Mindspace Business Parks REIT were down 1.4% . ended on 324.46.
Mindspace Business Park REIT sponsored by K Raheja Corp Group was listed on the Indian stock exchanges in August 2020.
REITs own quality office portfolios located in four major office markets of India, namely the Mumbai region, Pune, Hyderabad and Chennai.
REITs, a globally popular instrument, were introduced a few years back in India to attract investments in the real estate sector by monetizing rental properties.
This helps to unlock the massive value of real estate properties and enable retail participation.
Mindspace Business Parks REIT is currently trading with a decline of 0.9%.
This article is syndicated from Equitymaster.com
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