Indian Indices Trade Marginally Higher; Realty Sector Up 1.9%

Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the realty sector and energy sector witnessing maximum buying interest.

The BSE Sensex is trading up 93 points (up 0.3%) and the NSE Nifty is trading up 11 points (up 0.1%). The BSE Mid Cap index is trading flat, while the BSE Small Cap index is trading up by 0.4%. The rupee is trading at 63.46 to the US dollar.

In the news from the pharma space, Aarti Drugs share price is witnessing buying interest today. The stock of the company scaled its fresh 52-week high after the company informed bourses that it has fixed January 19 as record date for the purpose of buyback of upto 2.75 lakh shares representing upto 1.15% stake at Rs 875 per share.

Presently the stock of the company is trading up by around 5%.

Speaking of share buybacks, many buybacks are set to hit a new record this financial year. As per Prime Database, in the first five months of FY18, at least twenty companies have offered to buy back shares worth Rs 480 billion.

Also, in the past two years, the quantum of share buybacks has far exceeded the amount of new equity capital raised from IPOs.

In the news from the IPO space, Apollo Micro Systems is going to launch its IPO tomorrow. The offer will be open from 10th January till 12th January and the company intends to raise Rs 1.5 billion from its public offering.

The price band of the IPO is finalised at Rs 270 to Rs 275 per share.

Apollo Micro Systems Ltd is Hyderabad based company engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply. The company designs, develops and sells high-performance, mission and time critical solutions to Defense, Space and Home Land Security for Ministry of Defense, government controlled public sector undertakings and private sectors.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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