Share markets in India are presently trading on a negative note.

The BSE Sensex is trading down by 822 points, down 1.6% at 49,970 levels.

Meanwhile, the NSE Nifty is trading down by 225 points.

Tech Mahindra and HCL Technologies are among the top gainers today. Axis Bank and Bajaj Finserv are among the top losers today.

The BSE Mid Cap index is trading down by 1.5%.

The BSE Small Cap index is trading down by 0.8%.

On the sectoral front, stocks from the banking sector, are witnessing most of the selling pressure.

On the other hand, stocks from the software sector, are witnessing most of the buying interest

US stock futures are trading mixed today.

Nasdaq Futures are trading down by 7 points (down 0.1%) while Dow Futures are trading up by 57 points (up 0.2%)

The rupee is trading at 72.67 against the US$.

Gold prices are trading up by 0.2% at Rs 44,843 per 10 grams.

In global markets, gold prices were marginally higher as the passage of a US stimulus bill raised concerns over inflation risks. However, higher US bond yields, which hovered near their highest in more than a year, capped the precious metal's gains.

Note that gold is typically considered a hedge against inflation, but higher bond yields increase the opportunity cost of holding non-yielding bullion.

Tracking a similar global trend, gold prices today edged higher in Indian markets, On MCX, gold futures were up 0.4% to Rs 44,915 per 10 grams. In the previous session, gold had hit a near one-year low when it touched Rs 44,271 per 10 grams at session's low.

Moving on to stock specific news...

Among the buzzing stocks today is Tech Mahindra.

IT services firm Tech Mahindra said today that it has acquired a 70% stake in Perigord Asset Holdings, a digital workflow and artwork, labelling and BPO services firm.

This acquisition will help Tech Mahindra to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors. It will also strengthen the company's presence in the artwork and packaging services space with an integrated platform and services portfolio.

The company will pay 21 million euros for a 70% stake, and the balance 30% over the next four years at a valuation linked to the company's financial performance. Dublin, Ireland headquartered Perigord had revenues of 19.5 million euros as of December 31, 2020, and 380 employees.Additionally, Tech Mahindra will leverage Perigord's expertise and offerings to extend capabilities towards delivering efficiency and automation levers, across sectors including consumer-packaged goods (CPG), medical devices and over the counter (OTC) products.

The acquisition is a part of Tech Mahindra's long-term growth plan to build presence across key markets in Ireland, Germany, US, and India with enhanced global delivery.

"Healthcare and Lifesciences (HLS) is a key vertical for Tech Mahindra and this acquisition will expand our footprint globally in these domains. Perigord's disruptive proprietary platform and expertise in the artwork space and life sciences industry will add significant value to our offerings and capabilities," said Vivek Agarwal, President - BFSI, HLS and Corporate Development, Tech Mahindra.We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, shares of Tech Mahindra were trading up by 1.2% on the BSE.

Moving on to news from the ipo space...

Kalyan Jewellers to Launch IPO Tomorrow

Kalyan Jewellers India's Rs 11.8 billion initial public offering (IPO) will open for bidding on March 16, 2021. The IPO will close on March 18.

The company has fixed the issue price at Rs 86-87 per share and plans to raise Rs 11.8 billion at the higher end of the price band.

The bidding for anchor investors will open on March 15, 2021.

The public issue, backed by Warburg Pincus, comprises fresh issue of Rs 8 billion and an offer for sale (OFS) amounting to Rs 3.8 billion. Investors can bid for a minimum of 172 shares and in multiples of 172 shares thereafter. A total of 35% of the issue will be reserved for retail investors.

The company will utilise the IPO proceeds to fund its working capital requirements and for general corporate purposes.

Kalyan Jewellers was started by Kalyanaraman in Kerala in 1993. It counts Bollywood actors Amitabh Bachchan and Katrina Kaif among its brand ambassadors. Post listing, Kalyan Jewellers will compete with some of the biggest jewellery names in India such as Tata Group's Titan, Tribhovandas Bhimji Zaveri and PC Jeweller.

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

Speaking of stock markets, a right investing process can help you win in the long term. It might offer some unexpected and undesirable results in the short term but lets you fare well when you average the outcomes.

According to Richa Agarwal, Senior Research Analyst at Equitymaster, any investment process should not be judged based on individual outcomes. Instead, it should have stood the test of the time.

Her smallcap service Hidden Treasure has had its fair share of failures. But sticking to a disciplined process meant that Hidden Treasure's internal rate of return (IRR) increased to 24.38% since inception.

This compares favourably to the IRRs of 9.6% for the Sensex, and 8.8% for the smallcap index in the same period (February 2008 - June 2020) as can be seen in the chart below.

The service's performance did suffer in the short term after the 2018 crash in smallcaps. However, the long term track record and the post-COVID rebound underscores the strength of stock picking process.