After opening the day on a flat note, share markets in India witnessed some buying interest and are presently trading marginally higher. Sectoral indices are trading on a positive note with stocks in the realty sector and consumer durable sector witnessing maximum buying interest.
The BSE Sensex is trading up 68 points (up 0.2%) and the NSE Nifty is trading up 21 points (up 0.2%). The BSE Mid Cap index is trading up by 0.7%, while the BSE Small Cap index is trading up by 1%. The rupee is trading at 64.63 to the US$.
In the news from the initial public offering (IPO) space, New Delhi-based textbook publisher S Chand & Co is looking to raise Rs 7 billion through an IPO. The issue is set to open on April 26th.
The company has set the price band for the IPO at Rs 660-670 per share and the minimum bid lot at 22 shares.
The IPO includes fresh issue of share worth up to Rs 3 billion and an offer for sale (OFS) of 60 lakh shares by the existing shareholders.
S Chand is a leading Indian education content company (in terms of revenue from operations in FY16). The company delivers content, solutions and services across the education lifecycle through its K-12, higher education and early learning segments. It is the leading K-12 education content company with a strong presence in the CBSE/ICSE affiliated schools and increasing presence in the state board affiliated schools across India.
We will shortly release a note on the above IPO. To know our view on the latest IPOs, you can visit our IPO page.
Speaking of IPOs, a dozen of IPOs are lined up in the upcoming months. And given the recent buoyancy surrounding IPOs, market participants are looking forward to most of the upcoming issues. The buoyancy in the IPO space can be seen from the huge retail participation in some of the recent IPOs.
Huge Retail Participation in IPOs
But no matter what picture the present trend paints, one should look at the fundamentals of the business and the attractiveness of valuations in each and every IPO.
One of our editions of The 5 Minute WrapUp offers two ways to think about IPOs and explains how to profit from them. Further, in case you wish to run IPOs through a handy checklist, we have something for you. Download our Handbook of IPOs to be able to pick only the right ones for you.
In other news, Indian information technology (IT) companies got a sigh of relief after it was reported that US President Donald Trump has chosen not to not to push for legislative changes in the country's visa programme for technology workers in his latest executive order.
As per the news, Trump signed the executive order named 'Buy American and Hire American' in which he directed to suggest reforms to help ensure that H-1B visas are awarded to the most-skilled or highest-paid beneficiaries.
The news comes as a sigh of relief for Indian IT companies that they may be able to benefit from the existing H-1B visa policy for their workers.
One must note that Indian IT companies are facing the brunt of immigration restrictions proposed by the Trump administration.
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