Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices gave up initial gains amid choppy trade tracking mixed global cues.

At the closing bell, the BSE Sensex stood lower by 109 points (down 0.2%).

Meanwhile, the NSE Nifty closed lower by 41 points (down 0.2%).

Maruti Suzuki and NTPC were among the top gainers today.

Tata Steel and Grasim Industries, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,932, down by 76 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.6% and 1.1%, respectively.

Sectoral indices ended on a mixed note with stocks in the metal sector and energy sector witnessing most of the selling pressure.

Realty and auto stocks, on the other hand, witnessed buying interest.

Shares of Allcargo Logistic and Phoenix Mill hit their respective 52-week highs today.

Asian stock markets ended on a negative note today.

The Hang Seng and the Shanghai Composite ended down by 0.2% and 1.1%, respectively. The Nikkei ended down by 0.4% in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading down by 11 points.

The rupee is trading at 74.68 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.2% at Rs 47,788 per 10 grams.

In news from the pharma sector, Sun Pharma was among the top buzzing stocks today.

Indian pharmaceutical major Sun Pharma has declared a profit after tax of Rs 20.5 bn for the quarter ended in September, increasing by 12.9% compared to Rs 18.1 bn reported in the same quarter in 2020.

Strong operating performance and healthy revenue growth supported the bottom line during the quarter.

Consolidated revenue came in higher at Rs 96.3 bn for the quarter, compared to Rs 85.5 bn in September 2020 quarter, registering a 12.5% growth.

The sequential growth in the profit was 41.8%.

Earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 19.9% year on year (YoY) to Rs 26.3 bn, and margin expanded by 170 bps to 27.3% in the quarter ended September 2022.

The company's total expenses in the quarter rose 9.7% YoY to Rs 75.6 bn, which boosted the operating performance.

During the last one year the stock has moved up by 74% and by 37% in this financial year. The stock is up 5% in the past three months but down 2% in the past one month.

Sun Pharma's share price ended the day up by 0.2% on the BSE.

Speaking of the stock markets, the 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 farewell 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 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 favorably 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 small caps. However, the long-term track record and the post-Covid rebound underscores the strength of the stock-picking process.

Moving on to news from the IPO space...

Delhivery Files DRHP for Rs 74.6 Bn IPO

New-age logistics player Delhivery has filed its draft papers with the market regulator. The issue size of the initial public offerings (IPO) is Rs 74.6 bn.

The company will raise Rs 50 bn through the issuance of fresh shares while it will have an offer for sale (OFS) component of Rs 24.6 bn where some of its existing investors will dilute their holdings.

Delhivery, a new-age domestic logistics giant and supply chain firm, backed by the likes of Softbank, Tiger Global Management, and Carlyle, earlier signed an agreement to acquire a 100% stake in rival express logistics player Spoton Logistics.

The company earlier issued bonus shares to shareholders through a resolution passed in the extraordinary general meeting (EGM) held on 29 September 2021.

With this, Delhivery joins a growing list of top-tier startups like Paytm, Nykaa, and Policybazaar going public in India after Zomato's stellar Rs 90 bn IPO in July.

Delhivery, which competes with Blue Dart, Ecom Express, and others, reported revenue from contracts with customers at Rs 36.5 bn in the financial year 2021 compared to Rs 27.8 bn a year ago. In fiscal 2021, its net loss was at Rs 4.2 bn against almost Rs 2.7 bn in the financial year 2020.

For the quarter ending June 2021, Delhivery's revenue was at Rs 13.2 bn with a loss of over Rs 1.3 bn during the same period.

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