Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a negative note with stocks in the consumer durables sector and capital goods sector witnessing maximum selling pressure.

The BSE Sensex is trading down 107 points (down 0.3%) and the NSE Nifty is trading down 41 points (down 0.4%). The BSE Mid Cap index is trading down by 0.6%, while the BSE Small Cap index is trading down by 0.5%. The rupee is trading at 63.82 to the US dollar.

In the news from commodity markets, crude oil is witnessing buying interest today. Prices are seen hitting their highest levels since 2014 on the back of ongoing production cuts led by OPEC.

Note that crude oil prices have been on a rising trend this year. However, this is not good news from India’s perspective.

In the news from the IPO space, Apollo Micro Systems is going to launch its IPO today. The offer will be open 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.

Over last two decades, Apollo Micro Systems has developed an established brand name, acceptance and recall value in the defence ESDM sector. It is an electronic, electro-mechanical, engineering designs, manufacturing and supplies company and designs, develops and sells high-performance, mission and time critical solutions to Defence, Space and Home Land Security for Ministry of Defence, government controlled public sector undertakings and private sectors.

Healthy growth in revenues, high return on equity, and strong R&D capabilities are some key factors that stand out for Apollo Micro Systems Ltd. The company’s IPO comes at a time when ESDM markets are seeing double digit growth. Also, India is now seen as a favorable destination for ESDM markets. Apollo Micro Systems is well placed to benefit from these factors, among others.

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