Nifty 17196.7 (-1.18%)
Sensex 57696.46 (-1.31%)
Nifty Bank 36197.15 (-0.85%)
Nifty IT 35848.05 (-0.86%)
Nifty Financial Services 17779.5 (-1.13%)
Adani Ports 737.45 (-0.22%)
Asian Paints 3110.45 (-2.21%)
Axis Bank 673.00 (-0.46%)
B P C L 385.90 (1.86%)
Bajaj Auto 3287.85 (-1.22%)
Bajaj Finance 7069.25 (-1.55%)
Bajaj Finserv 17488.70 (-1.52%)
Bharti Airtel 718.35 (-1.94%)
Britannia Inds. 3553.75 (-0.69%)
Cipla 912.05 (-1.00%)
Coal India 159.75 (0.28%)
Divis Lab. 4757.05 (-0.42%)
Dr Reddys Labs 4596.50 (-1.42%)
Eicher Motors 2455.55 (0.16%)
Grasim Inds 1703.90 (-1.16%)
H D F C 2771.65 (-1.29%)
HCL Technologies 1171.40 (-1.12%)
HDFC Bank 1513.55 (-0.80%)
HDFC Life Insur. 690.95 (-2.03%)
Hero Motocorp 2462.45 (-0.41%)
Hind. Unilever 2343.65 (-1.66%)
Hindalco Inds. 424.65 (-1.72%)
I O C L 122.20 (1.28%)
ICICI Bank 716.30 (-0.84%)
IndusInd Bank 951.15 (0.59%)
Infosys 1735.55 (-0.73%)
ITC 221.65 (-1.69%)
JSW Steel 644.55 (-0.34%)
Kotak Mah. Bank 1914.20 (-2.55%)
Larsen & Toubro 1801.25 (0.67%)
M & M 836.95 (-1.48%)
Maruti Suzuki 7208.70 (-1.59%)
Nestle India 19321.35 (-0.93%)
NTPC 127.00 (-1.32%)
O N G C 145.90 (1.32%)
Power Grid Corpn 206.10 (-3.92%)
Reliance Industr 2408.25 (-3.00%)
SBI Life Insuran 1165.95 (-1.86%)
Shree Cement 25914.05 (-1.43%)
St Bk of India 473.15 (-0.81%)
Sun Pharma.Inds. 751.80 (-1.89%)
Tata Consumer 774.30 (0.14%)
Tata Motors 480.10 (0.21%)
Tata Steel 1118.00 (0.50%)
TCS 3640.45 (-0.07%)
Tech Mahindra 1593.30 (-2.23%)
Titan Company 2369.25 (-0.72%)
UltraTech Cem. 7332.45 (0.13%)
UPL 712.75 (2.08%)
Wipro 640.75 (-0.94%)

5 Stocks to Buy Today: September 8, 2021

Stocks to buy Today - 8th September 2021
08/09/2021

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today

1. Dollar Industries (DOLLAR)

Dollar Industries Limited has become one of the leading brands in the hosiery sector with an enviable 15% market share and a significant percentage in textile exports of the total production in the Indian hosiery market. It has also made a noticeable presence across social media and e-commerce platforms. Dollar Industries Limited has extensively penetrated across 29 states in India. 

DOLLAR Stock Details for Today: 

- Current Market Price: Rs.393

- Stop Loss: Rs. 380

- Target 1: Rs. 410

- Target 2: Rs. 427

- Holding Period: One week

5paisa Recommendation: Very strong volumes in the day makes Dollar Industries one of the top stocks to buy today. 

 

2. Balaji Amines Ltd. (BALAMINES)

Balaji Amines Ltd. is an ISO 9001: 2015 certified company and one of the leading manufacturers of Aliphatic Amines in India. The company is specialised in manufacturing Methylamines, Ethylamines, Derivatives of Specialty Chemicals and Pharma Excipients. They also have facilities for the manufacture of derivatives, which are down stream products for various Pharma/Pesticide industries apart from user specific requirements.

BALAMINES Stock Details for Today: 

- Current Market Price: Rs. 4,225

- Stop Loss: Rs. 4,170

- Target: Rs. 4,385

- Holding Period: One week 

5paisa Recommendation: Sideways move is expected to end and expected to continue holding the grip, thus making it one of the best stocks to buy today.

 

3. Tube Investments of India Ltd. (TIINDIA)

Tube Investments of India Limited is a Murugappa Group company that specializes in engineering, bicycles, metal formed products, and chains. Based in Chennai, it was incorporated as TI Cycles of India Limited in 1949, as a joint venture company.

TIINDIA Stock Details for Today: 

- Current Market Price: Rs. 1,387

- Stop Loss: Rs. 1,345

- Target: Rs. 1,472

- Holding Period: One week

5paisa Recommendation:  Trends suggest a renewed interest in buying today, thus, making TIINDIA feature on today's list of top 5 stocks to buy. 

 

4. APL Apollo (APLAPOLLO)

APL Apollo Tubes Limited is the largest producer of Structural Steel Tubes in India. The company's multi-product offerings include over 1,100 varieties of Pre- Galvanized Tubes, Structural Steel Tubes, Galvanized Tubes, MS Black Pipes and Hollow Sections, making APL Apollo one of the leading branded steel products manufacturers in India.

APL Apollo Stock Details for Today: 

- Current Market Price: Rs. 1,765

- Stop Loss: Rs. 1,715

- Target 1: Rs. 1,820

- Target 2: Rs. 1,890

- Holding Period: One Week

5paisa Recommendation:  Experts observe a breakout in trends, and the stock is likely to perform well today, thus making to our stock recommendations list. 

 

5. Rallis India (RALLIS)

Rallis is known for its deep understanding of Indian agriculture, sustained contact with farmers, quality agrochemicals, branding and marketing expertise and its strong product portfolio of comprehensive crop care solutions. Agricultural solutions from the company benefit more than five million farmers.

RALLIS Stock Details for Today: 

- Current Market Price: Rs. 292

- Stop Loss: Rs. 286

- Target: Rs. 306

- Holding Period: One week buy

5paisa Recommendation:  The stock pattern shows recovery, and our experts expect this to perform well today. 

 

Performance of our Previous 'Buy' Stock Calls

As we promised, here's how our previous stock call recommendations have worked.

1. Swing trade IRCTC went up 10% in 1 day
2. Swing trade CANFINHOME went up 7.3% in 1 day
3. Swing trade SUNDRMFAST 3.2% in 1 day
4. BLUEDART went up 4%
5. PNCINFRA is 15% in 4 days
6. Profit of Rs. 17.8k from BTST MPHASIS

 

Share Market Today

SGX Nifty:

SGX Nifty indicates positive opening for Indian markets. SGX Nifty is at 17,428.00 levels, higher 58.75 points. (Updated at 7:45 AM).

International Markets:

US Market: US markets see profit booking as Dow Jones slips over 260 points while Nasdaq closed flat even as bond yields ended at month highs near 1.37%.

Markets turn cautious after the Friday jobs report suggesting growth momentum may be lagging. US$ also sees a bounce to close @ 92.5.

Asian Market: Asian markets opened mixed with the Japanese 'Nikkei' trading above 30,000 for the 1st time in over 3-months on the back of a change of new Prime Minister who seems to be a popular choice.


Taiwan and South Korean markets have seen some profit booking ahead of quarterly numbers due to large manufacturers.

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Outcome of the Telecom Committee Meeting

Outcome of the Telecom Committee Meeting
by 5paisa Research Team 08/09/2021

There were major expectations that the Cabinet Meeting on Telecom on 08 September would be a game changer. However, the meeting started at 11 am on Wednesday but did not discuss any of the contentious issues like relief package for Vodafone, change in methodology of AGR computation, deferral of spectrum fees payment etc. The I&B Minister, Anurag Thakur, merely said that the issue was not discussed.

 

In a way, it is disappointing for telecom stocks, especially Vodafone Idea. It is struggling with its mounting losses, falling customer base and a huge outstanding liability of Rs.180,000 crore. Most of this is owed to the government in the form of Annual Gross Revenue (AGR) dues and spectrum fees payable.

 

The last relief for telecom players was when outstanding AGR dues were defrayed over 10 years in equal instalments. Here were some key expectations that telecom companies had from the Cabinet Committee on Telecom.

 

• There were expectations of rationalization of telecom license fees so as to reduce the prospective burden on telcos.

 

• It was hoped that the AGR definition would be tweaked to exclude non-telecom revenues sources to give relief to telecom companies.

 

• Telecom players were expecting a moratorium of another 2 years on AGR pay-outs, but markets are unsure how attractive it would be with interest implications.

 

• There were hopes that government would intervene to bail-out Vodafone, which is stuck with debt of Rs.180,000 crore and huge accumulated losses that have wiped out their net worth.

 

• The street was expecting that part of the debts of Vodafone Idea would be converted into equity so that the government becomes a partner in the rescue.

Anurag Thakur has been non-committal on whether this would be taken up for discussion next week. Any worsening of the situation at Vodafone Idea would not only lead to loss of jobs, but also a huge dent on banks that guaranteed most of the statutory payables.

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Indian Bonds to be Included in Global Bond Market Indices

Indian bonds to be Included in Global Bond Market Indices
by 5paisa Research Team 08/09/2021

A recent report by Morgan Stanley has highlighted that Indian bonds could be included in global bond market indices before February 2022. The Indian government has been lobbying for some time with global index majors like JP Morgan, FT and MSCI for inclusion in the global bond indices. That effort appears to be fructifying.

As per a recent report by Morgan Stanley, India was likely to be included in JP Morgan’s GBI-EM (Global Bond Index – Emerging Markets) as well as in the Global Aggregate Index. However, it will take some more time before India is included in the World GBI indices as Indian bond markets are yet to reach that level of depth and liquidity. 

Why is the inclusion in global bond indices important? Typically, a large chunk of the global money gets allocated by passive funds like index funds and ETFs. This is true of equities and also of bonds. While India has been present in most of the benchmark equity indices, it had been absent in the bond indices. That had impacted global capital flows into Indian debt.

It is estimated that the inclusion in the bond index would right away result in infusion of an impressive $40 billion into Indian debt. Also, Morgan Stanley, has pointed out in its report that over the next 10 years, Indian bonds could get as much as $250 billion of flows from such passive funds. That would not only reduce the pressure on equity flows, but make bond markets substantially more liquid.

Also Read: Difference Between Convertible and Non-Convertible Debentures

Currently, foreign ownership of Indian government debt is less than 2%. This figure is expected to increase to 9% over the next decade. This would also impel the Indian government to remove foreign portfolio limits on bonds. Morgan Stanley has also estimated that the rupee could appreciate 2% over next few years and that would add to the dollar yields for global investors and make effective yields a lot more attractive.

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5 Mantras To Read A Company’s Balance Sheet

5 Mantras To Read A Company’s Balance Sheet
by 5paisa Research Team 08/09/2021

5 Mantras To Read A Company’s Balance Sheet

 

 Financial Position: A balance sheet is one of three important statements for companies, along with a profit & loss statement and cash flow statement. A balance sheet shows the financial position of a company as on a particular date. It is an overview of the business.

 Sources and Uses of Funds: A balance sheet is divided into Sources of Funds and Application of those Funds. This statement tells us where the management has got its funds from and how it is being used. Sources of funds could be from raising equity, taking on some debt, sale of assets, etc. Whereas, application of funds includes operating expenses, asset purchases, decrease in a liability, etc. All figures in a balance sheet are updated to current value. .

 Shareholder’s Equity: Shareholder’s Equity is the money that the shareholders would get if the business was liquidated immediately. If the company is doing well, the shareholder’s equity keeps increasing. It does not, however, include retained earnings of the company.

Shareholder’s Equity = Assets – Liabilities 

 Assets: Anything owned by the company is an asset. Assets could be Current or Non-current. Current assets are assets that can be easily liquidated such as cash, accounts receivable, inventory, marketable securities, etc. Non-current assets are more permanent in nature and cannot be liquidated as fast. Examples are Land, plant and machinery, other equipment, goodwill, etc.

 Liabilities: Anything owed by the company is a liability. Similar to assets, liabilities can be Current and Non-Current in nature as well. Current liabilities would be accounts payable, overdraft, etc. These are payments that need to be made in the short-run. Non-Current liabilities are loans, leases, bonds etc., that are more long-term in nature. 

Also Read: 7 Red Flags to Look at While Studying the Financial Statements

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LIC IPO - Government appoints Investment bankers

LIC IPO Investment bankers
by 5paisa Research Team 08/09/2021

The government has taken an important step towards the LIC IPO. On 08 September, the DIPAM secretary, Tuhin Pandey, announced the list of investment bankers managing the LIC IPO. A total of 16 merchant bankers had made presentations on 15-July to the government for managing the LIC IPO and out of them 10 have been shortlisted for the job. The government is yet to announce specifics of BRLMs and advisors to the issue.

The Department of Investment and Public Asset management (DIPAM) has appointed 5 global investment banks and 5 Indian investment banks.

The 5 global investment banks include

     1. Goldman Sachs

     2.Citigroup

     3. JP Morgan

     4. BOFA Securities

     5. Nomura

 

The 5 Indian investment bankers to the issue include:

   1.  SBI Caps

   2.  JM Financial

   3.  Axis Capital

   4.  ICICI Securities

   5.  Kotak Mahindra Capital.

 

Apart from appointing the investment bankers, DIPAM has invited applications for appointment of legal advisors to the issue. KFintech Private Limited , formerly Karvy Computershare, has been appointed as the registrar to the issue. Milliman Advisors LLP is already acting as the actuarial advisors and they are in the process of arriving at the embedded value of LIC. The issue is slated in the Mar-22 quarter.

While FDI up to 74% in life insurance is permitted under the automatic route, that is not applicable to LIC as it is governed by the LIC Act. The IPO is also likely to permit foreign investors to invest up to 20% via the IPO route. The Cabinet Committee on Economic Affairs has already cleared the issue.

Read: New rules for Insurance Sector

The success of the LIC IPO is crucial to the success of the government’s Rs.175,000 crore disinvestment target in FY22. Till date, divestments have only collected Rs.8,368 crore this fiscal. The government may sell 5% to 10% in LIC and the size of the IPO could vary from Rs.75,000 crore to Rs.100,000 crore and will be the biggest in Indian IPO history.

 

LIO IPO Storyline:

1.  Did the LIC IPO just get the Government Stamp of Approval

2. LIC IPO gets once step closer to becoming reality

3. Life Insurance Corporation LIC - IPO Update

4. LIC may split its proposed IPO into 2 tranches
 

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SAIL to Double Steel Capacity to 50 MTPA by 2030

SAIL to Double Steel Capacity to 50 MTPA by 2030
by 5paisa Research Team 08/09/2021

Steel Authority of India Limited (SAIL) has laid out an elaborate plan to double its steel manufacturing capacity from the current 23 million tonnes per annum (MTPA) to over 50 MTPA  by 2030. This phase of expansion will begin from 2023-24, after the ongoing expansion program is completed.

 

SAIL Plant

Current Capacity

Phase 1

Phase 2

Capacity by 2030

Durgapur

2.50 MTPA

7.50 MTPA

Nil

7.50 MTPA

Rourkela

3.70 MTPA

8.80 MTPA

Nil

8.80 MTPA

Bokaro

4.60 MTPA

9.50 MTPA

Nil

9.50 MTPA

Burnpur IISCO

2.50 MTPA

3.00 MTPA

7.50 MTPA

7.50 MTPA

Bhilai

7.00 MTPA

Nil

14.00 MTPA

14.00 MTPA

Others

3.00 MTPA

Nil

Nil

3.00 MTPA

 

The capacity expansion across the various plants of SAIL will be spread over two phases. While Durgapur, Rourkela and Bokaro will see capacity expansion in Phase 1, Bhilai will see capacity expansion in Phase 2. The IISCO plant in Burnpur will expand capacity in both the phases. Once the two phases of expansion are completed, the total capacity of SAIL will grow from the current 23 MTPA to 50 MTPA by year 2030.

The total expansion program will entail an investment of Rs.150,000 crore. SAIL has already procured a 30-year mining lease for iron ore in Rajasthan’s Bhilwara district to ensure steady supply of iron ore for steel production. This expansion is part of the National Steel Policy 2017, which had envisaged India’s steel output to grow 3-fold to 300 MTPA by the year 2030 with SAIL having one-sixth market share.

Steel companies have been in a structural rally in the last one year as is evident from the stock prices which have grown multi-fold. There has been a massive demand for steel coming domestically and from abroad. The global steel shortage has also ensured that steel prices remain buoyant on the London Metals Exchange (LME). The expansion seeks to make the best of this robust demand.
 

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