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update 06 Jul 03:00 AM open_in_new  EquityMaster

SGX Nifty Trades Flat, Rupee at New Record Low, How PLI Schemes will Boost India's GDP, and Top Buzzing Stocks Today


Posted by Equitymaster On Tuesday, despite opening the day on a firm note, Indian share markets erased all gains in the last hour of trading and ended lower. Benchmark indices reversed course and erased all the intraday gains to end in the red amid high volatility. Denting sentiment was the depreciating rupee, which fell to its all-time low yesterday. At the closing bell on Tuesday, the�BSE Sensex�stood lower by 100 points (down 0.2%). Meanwhile, the�NSE Nifty�closed lower by 25 points (down 0.2%). Power Grid and Bajaj Finserv were among the�top gainers. ITC and Wipro, on the other hand, were among the�top losers. The�BSE MidCap�index ended lower by 0.4% while the BSE SmallCap index�ended higher by 0.2%. Sectoral indices ended on a mixed note with stocks in the IT sector and auto sector witnessing most of the selling. Metal stocks and pharma stocks, on the other hand, witnessed some buying. Electric vehicle stocks were in focus after the central government said it will soon take a call on whether or not to take penal action against manufacturers of faulty electric vehicles. Shares of Siemens and Varun Beverages hit their 52-week highs. Gold prices�for the latest contract on MCX are trading up by 0.2% at Rs 52,218 per 10 grams, at the time of Indian market closing hours yesterday. At 7:50 AM today, the SGX Nifty was trading up by 12 points or 0.1% higher at 15,820 levels. Indian share markets are headed for a flat opening today following the trend on SGX Nifty. Speaking of stock markets, in the latest episode of investor hour, Ajit Dayal talks about investing in IPOs and his philosophy on investing. Top Buzzing Stocks Today Life Insurance Corporation of India share price will be among the top buzzing stocks today. The insurance giant has received approval to invest Rs 806.7 m in the proposed rights issue of its joint venture LIC (Nepal). LIC owns 55% stake in LIC (Nepal). The board of directors in their meeting held on 4 July 2022, has approved the same. LIC got listed in May 2022. Here's How 2022's Newly Listed Stocks are Performing so far. Adani Power share price will also be in focus today. The company said it will seek shareholders' approval for the proposed related-party transaction worth up to Rs 50 bn with AdaniConnex during its annual general meeting on 27 July 2022. The transaction involves sale by Adani Power of its SPVs in which ownership and/or leasehold rights in land or land parcels have been procured by the company to its related party, according to the notice for AGM. Note that Adani Power is one the sources of Adani's Billions. Market participants will also track SpiceJet share price. The company's flight made an emergency landing following a technical fault. This is the sixth such incident on SpiceJet aircraft in the last 17 days. Rupee at all-time low Yesterday, the rupee weakened further in afternoon trade to touch a fresh record low against the US dollar. The fall was witnessed as concerns of a wider current account deficit came to the forefront after the country's June trade deficit hit a record high. Data late on Monday showed India's June trade deficit widened to a record US$ 25.6 bn, pushed by a rise in crude oil and coal imports, from US$ 9.6 bn a year ago. The partially convertible rupee closed at 79.37 yesterday. As the rupee falls, check out these�five companies which stand to gain big from a weakening rupee. Note that a depreciating rupee can be a lifeline for export backed industries like IT. This begs the question - Can a depreciating rupee trigger the recovery in Indian IT stocks? The IT index is down by 28% in H12022 while a depreciating rupee may trigger a�recovery in the IT index. According to chartist Brijesh Bhatia, on the weekly chart of IT index, the bullish harami candlestick pattern is visible in mid-June indicating the sign of reversal. Here's an excerpt from Brijesh's article: Historically, the USDINR and IT index stocks go hand-in-hand, though sometimes there are divergence considering the equity market scenario but the long-term relationship stays together. The rupee is likely to hit 80 sooner which will be beneficial for the�Indian IT sector. PLI schemes to boost GDP? According to a report, the production-linked incentives (PLI) scheme can add 4% to the GDP annually in terms of incremental revenue. The PLI scheme seeks to boost manufacturing in key areas by offering nearly Rs 2.4 tn in incentives over the next five years. So far, the scheme has seen maximum response from the electronics, auto components, and pharma sectors. The report said that domestic manufacturing was hit due to demonetisation, badly rolled out GST, and the pandemic apart from the missing consumer demand. The report also attributes the success of the PLI scheme to the China+1 strategy. Since the pandemic which originated there, China has been on the receiving end of many Western companies and governments. The world's factory is again facing significant pushback after the recent lockdowns in many Chinese cities, which further aggravated supply chain as well as manufacturing disruptions. Another enabling factor is the rupee depreciation against the Chinese yuan, making India more competitive on the manufacturing front. The key beneficiaries of these developments are auto and auto components, textiles, chemicals, and capital goods. Apart from PLI schemes, here's How Modi's Big Schemes Could Trigger Surges in Specific Stocks. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (SGX Nifty Trades Flat, Rupee at New Record Low, How PLI Schemes will Boost India's GDP, and Top Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 05 Jul 03:00 AM open_in_new  EquityMaster

SGX Nifty Up 64 Points, Why ITC Shares Are Rallying, Tata Motors AGM Highlights, and Top Buzzing Stocks Today


Posted by Equitymaster On Monday, despite opening the day with losses, Indian share markets reversed course as the session progressed to end higher. Benchmark indices reversed course as gains in index heavyweight stocks helped uplift sentiment. At the closing bell on Monday, the�BSE Sensex�stood higher by 327 points (up 0.6%). Meanwhile, the�NSE Nifty�closed higher by 83 points (up 0.5%). HUL and IndusInd Bank were among the�top gainers. TCS and Tata Steel, on the other hand, were among the�top losers. The�BSE MidCap�index gained 0.8% while the BSE SmallCap index�ended higher by 0.6%. Sectoral indices ended on a mixed note with stocks in the FMCG sector and banking sector witnessing buying interest. Metal stocks, on the other hand, witnessed selling pressure. Metal stocks fell�as iron ore and steel prices tumbled on fears of a slump in demand for commodities. Electric vehicle stocks�will be in focus today as the central government yesterday said it will soon take a call on whether or not to take penal action against manufacturers of faulty electric vehicles. --- Advertisement --- 3 Signs of a Potential Crorepati Stock There are thousands of stocks listed on the BSE and NSE. But only a few of them go on to deliver life-changing gains. To identify potential crorepati stocks, all you need to do is look for 3 simple signs. At our upcoming special event, our head of smallcap research, Richa Agarwal, will reveal these 3 signs of a potential crorepati stock... Plus, she will also share details of one tiny stock showing these 3 signs today... You can find all the details here... ------------------------------ Shares of AIA Engineering and Rolex Rings hit their�52-week highs. Avenue Supermarts share price�rose 3% yesterday after the company posted its business update. Radhakishan Damani, who owns and operates the retail chain DMart, saw his wealth rising nearly Rs 44 bn due to this rally. Gold prices�for the latest contract on MCX were trading up by 0.3% at Rs 52,055 per 10 grams, at the time of Indian market closing hours yesterday. At 7:30 AM today, the SGX Nifty was trading up by 64 points or 0.3% higher at 15,890 levels. Indian share markets are headed for a positive opening today following the trend on SGX Nifty. Speaking of stock markets, Rahul Goel talks to Ajit Dayal about investing in the Infosys IPO and his philosophy on investing, in the latest episode of Investor Hour Podcast. Top Buzzing Stocks Today ONGC and Reliance Industries will be among the top buzzing stocks today. As per an article in The Economic Times, the government's decision to impose windfall taxes on refiners and oil explorers is likely to see earnings cut of 5-15% in the ongoing fiscal on lower revenues. Here's an excerpt from the article: Revenues may shrink by about Rs 1 lakh crore on a full-year basis, and refining and upstream companies are expected to contribute equally to the estimated compression. The move would essentially cap gross refining margin (GRM) expansion of refining companies in the current super cycle and realisation at upstream companies. Last week, stocks of refiners and explorers plunged after the government announced the tax on export of petrol, diesel, among other things. --- Advertisement --- "$2.5 Trillion Crypto Market Boom..." A booming $2.5 trillion market... Set to multiply by 100 times over the next decade... With legendary investors like Warren Buffet, Elon Musk, and Peter Thiel pouring in billions of dollars all over... Really Want to Miss It? ------------------------------ Reliance and ONGC were big losers with Reliance shares falling 8%. ITC share price will also be in focus today. Shares of the FMCG to cigarette company hit an over two-year high yesterday on expectation of strong earnings growth. The sharp up move can also be attributed to better-than-expected demand recovery and a healthy margin outlook in cigarettes and better capital allocation in recent years. Market experts are of the view that this trend will continue and should result in improved cigarette volumes and earnings visibility. Before the rally in ITC started, we covered an editorial on why ITC is set for its next leg of growth. You can read it here:�ITC: Load, Aim...Fire! To know more about the company, check out�ITC's 2021-22 annual report analysis. Market participants will also track Torrent Pharma share price. Torrent Pharma will issue bonus shares this week in the ratio of 1:1. Join Our YouTube Channel: Get Close to Our Editors and Stay Ahead of the Curve Tata Motors AGM Highlights Speaking to the shareholders at the 77th annual general meeting (AGM), N Chandrasekaran, chairman of Tata Motors told shareholders that the company is keen to return to paying dividends soon. Tata Motors is planning to sell half a million cars in financial year 2022-23 and is confident that electric vehicle (EV) sales will cross one lakh units by the next fiscal year. Tata Motors has ambitious plans when it comes to electric vehicles in India. It has plans of expanding the product portfolio to 10 EV by 2025 and expects the share of electric vehicles in total sales to rise to 25% in the next five years. At present, the company does not have any plans to make electric two-wheelers but it will offer a charging solution for different segments of the market. The chairman added that Tata Motors is seeing strong demand for its vehicles across businesses - Jaguar Land Rover, commercial vehicles (CVs) and passenger vehicles (PVs) despite ongoing geopolitical, supply and inflation concerns. FMCG market slows down in June India's fast-moving consumer goods (FMCG) market fell 1% in value while sales of electronic goods such as air-conditioners and refrigerators dipped 25% in June from May, indicating higher prices continue to hurt demand. This is the second consecutive decline for FMCG and consumer electronics sequentially. The June quarter, however, saw growth of 14% due to a low base last year. Over the past year, shrinkflation has helped companies post value growth as volume declined. Several major FMCG companies�such as Nestle, Dabur, Britannia, Hindustan Unilever, P&G, Coca-Cola, and PepsiCo have adopted this method in recent times. Companies are expected to continue opting for 'shrinkflation'. This is because unprecedented inflation poses a significant challenges in the near term. But some experts caution that there must be a limit or a maximum ceiling to the use of shrinkflation else it may lead to loss of market share as consumer sentiment could deteriorate towards the brand. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (SGX Nifty Up 64 Points, Why ITC Shares Are Rallying, Tata Motors AGM Highlights, and Top Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 04 Jul 03:00 AM open_in_new  EquityMaster

SGX Nifty Trades Flat, Vedanta's Ambitious Semiconductor Dream, Maruti's Green Drive, and Top Buzzing Stocks Today


Posted by Equitymaster On Friday last week, Indian share markets ended on a flat note. Benchmark indices erased most of the losses as buying returned in index heavyweight stocks. At the closing bell on Friday, the�BSE Sensex�stood lower by 111 points (down 0.1%). Meanwhile, the�NSE Nifty�closed lower by 28 points (down 0.2%). ITC and Bajaj Finance were among the�top gainers. Reliance and Power Grid, on the other hand, were among the�top losers. The�BSE MidCap�index and the BSE SmallCap�index ended higher by 0.7% and 0.1%, respectively. Sectoral indices ended on a mixed note with stocks in the FMCG sector, finance sector and realty sector witnessing most of the buying. Energy stocks, on the other hand, witnessed selling pressure. Shares of Voltamp Transformers and Insecticides India hit their�52-week highs. HDFC Life ended 3% higher on Friday after falling for the past few consecutive sessions.�HDFC Life share price is falling�lately owing to a slowdown in new business premium. Rice stocks in India�are in focus lately after reports suggested India's rice stock could be barely over the buffer norms come 1 October. On Friday, the�domestic currency rupee�was trading at 79.02 against the US$. As the rupee falls, check out these�five companies which stand to gain big from a weakening rupee. Gold prices�for the latest contract on MCX were trading up by 2.5% at Rs 51,764 per 10 grams at the time of Indian closing market hours on Friday. At 8:00 AM today, the SGX Nifty was trading down by 20 points or 0.1% lower at 15,730 levels. Indian share markets are headed for a flat opening today following the trend on SGX Nifty. Speaking of stock markets, India's #1 trader Vijay Bhambwani explains whether you should be bullish on gold after the new sanctions on Russia, in his latest video for�Fast Profits Daily. Tune in to the below video to find out more: Top Buzzing Stocks Today Indian Oil Corporation (IOC) share price will be among the top buzzing stocks today. IOC�will invest over Rs 7.4 bn to raise the capacity of its oldest oil refinery at Digboi in Assam. The state-owned company said last week that its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes along with associated facilities. Maruti Suzuki share price will also be in focus today. India's largest carmaker that stopped production of diesel cars will next phase out vehicles that run purely on petrol, as it seeks to align its product portfolio with the government's objective of reducing crude imports and emissions. The transition of the entire portfolio to hybrid, flex-fuel, bio-fuel and pure electric vehicles will happen over the next seven to 10 years as per the current plans. The company is working on several eco-friendly technologies, said CV Raman, the Suzuki Motor unit's chief technology officer. Maruti Suzuki has also stepped up investments in transitional technologies. India's Fuel Sales India's petrol and diesel sales soared in June 2022 on the back of the start of cropping season, summer travels and overall pick up in economic activity, preliminary industry data showed. The start of the cropping season helped diesel demand register a double-digit growth over the pre-pandemic period. This is a record in recent years. Diesel saw sales jumping 35.2% YoY to 7.38 million tonnes in June. This was 10.5% higher than sales in pre-pandemic June 2019 and 33.3% more than June 2020. Petrol sales by state-owned fuel retailers, which control roughly 90% of the market, at 2.8 million tonnes in June were 29% higher than the same period last year. Note that oil refinery companies profited big time from higher crude oil prices. ONGC posted record margins. But now, companies benefitting from the rising crude oil prices�will see some effect in their profits as the government took away windfall gains by announcing tax on export of petrol and diesel. This sent Reliance's shares tumbling 8% last week on Friday. Vedanta's Ambitious Semiconductor Mission In news from the semiconductor space, the Vedanta Group is expecting its semiconductor business turnover to be in the range of US$ 3 to 3.5 bn out of which around US$ 1 bn will come from exports. The group's global managing director of display and semiconductor business Akarsh Hebbar said that its JV partner Foxconn has all the agreements and required technologies in place to start making electronic chips. Vedanta Foxconn JV is among three companies that have applied for setting up semiconductor manufacturing units in the country. Vedanta has also applied for setting up a display fabrication plant to make screens that are used for display in electronic devices. The company expects to start manufacturing display units in 2024-25 and semiconductors by 2025-26. Note that semiconductor stocks�are a hot trend in equity market today and they will continue to prevail and be of utmost importance in the years to come. This is almost a surety as India is on a path to become a�semiconductor powerhouse. If you are looking to invest in semiconductor stocks, keep a�long term investing approach�in mind. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (SGX Nifty Trades Flat, Vedanta's Ambitious Semiconductor Dream, Maruti's Green Drive, and Top Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 01 Jul 10:41 AM open_in_new  MoneyControl

MG Motor India June retail sales rise 27% at 4,503 units


The momentum in sales (evident across all models) comes on the back of some ease in semiconductor availability, even though the outlook remains constrained in the wake of supply-chain roadblocks and persistent logistical headwinds, the company said in a statement.

update 01 Jul 10:20 AM open_in_new  MoneyControl

Tribunal allows Hero MotoCorp to use 'Hero' trademark for its EVs


In a late night regulatory filing on Thursday, the two-wheeler major stated that the tribunal has ruled in its favour regarding the use of the trademark.

update 01 Jul 03:00 AM open_in_new  EquityMaster

SGX Nifty Trades Lower, Google-Bharti Airtel Deal, Eveready Industries AGM Highlights, and Top Buzzing Stocks Today


Posted by Equitymaster On Thursday, Indian share markets traded in a rangebound fashion throughout the day to end flat. Benchmark indices gave up early gains and slipped into red owing to weakness in auto, and IT stocks. At the closing bell on Thursday, the�BSE Sensex�stood lower by 8 points. Meanwhile, the�NSE Nifty�closed lower by 19 points (down 0.1%). Axis Bank and SBI were among the�top gainers. Tech Mahindra and IndusInd Bank, on the other hand, were among the�top losers. IOC share price rose yesterday after being under pressure constantly for the past few weeks.�Shares of IOC were under pressure�for the past couple of weeks owing to marketing margin pressure. The�BSE MidCap�index and the BSE SmallCap�index ended lower by 0.7% and 0.5%, respectively. Sectoral indices ended on a mixed note with stocks in the power sector and banking sector witnessing most of the buying interest. Auto stocks, IT stocks and realty stocks, on the other hand, witnessed selling pressure. Shares of Orient Bell and Axita Cotton hit their�52-week highs. --- Advertisement --- THOUSANDS of Readers Attended One Stock Crorepati Mega Summit Our One Stock Crorepati MEGA Summit was a huge success. Thousands of readers attended the summit LIVE. You still have a chance to watch the recording. Click here to view the Summit now Please note that, we'll take this recording offline soon. And considering you're a loyal reader of Equitymaster, we'd hate to see you miss out on it. Don't let this opportunity pass... Discover this Rare One Stock Crorepati Opportunity Now ------------------------------ As companies publish their annual reports, check out these�4 companies which turned profitable in 2022. If you are interested in penny stocks, have a look at�these fundamentally strong penny stocks. At 7:40 AM today, the SGX Nifty was trading down by 54 points, or 0.2% lower at 15,715 levels. Indian share markets are headed for a negative opening today following the trend on SGX Nifty. Speaking of stock markets, India's #1 trader Vijay Bhambwani explains whether you should be bullish on gold after the new sanctions on Russia, in his latest video for Fast Profits Daily. Tune in to the below video to find out more: Top Buzzing Stocks Today Sterlite Tech�will be among the top buzzing stocks today as the company has signed a definitive agreement to acquire balance 25% stake in Jiangsu Sterlite Tongguang Fiber Co. (JSTFCL) for cash consideration of Rs 650 m. The company's current shareholding in JSTFCL is 75%. Post-acquisition, JSTFCL will become a wholly owned subsidiary of Sterlite Tech. Eveready Industries share price will also be in focus today. Eveready's MD and CEO in the AGM informed that that the topline growth coupled with sustainable profit and adherence to the 'highest degree of good corporate governance' will be key areas of focus for India's largest dry cell�battery maker. --- Advertisement --- [PLEASE RESPOND] Interested in Learning Cryptos? We've asked a former Wall Street market maker... Someone who is one of crypto's earliest evangelists... And has been in this space for the past 10 years... To spill all his secrets and techniques... And show you the right way to potentially capitalize on the upcoming $2.5 trillion crypto market boom... Will You Get In? ------------------------------ To know more, check out�Eveready Industries' 2021-22 annual report analysis. Market participants will also track Bharti Airtel share price. Bharti Airtel has opted for the four-year moratorium on adjusted gross revenue (AGR) related dues for FY18 and FY19 amounting to around Rs 30 bn. The telecom company has decided against availing the option to convert accrued interest on such statutory dues into government equity. Consumer Sentiment Check The index of consumer sentiments recovered marginally in June 2022 after three consecutive months of fall. However, the uneven and slow recovery can delay the recovery in final consumption expenditure, according to the Centre for Monitoring Indian Economy (CMIE). As per the CMIE, the 30-day moving average as of 26 June was 1.3% higher than its level as of May-end after 3.7% dip in March, 3% fall in April and 0.8% decline in May. According to CMIE, poorer households have seen a much slower recovery in consumer sentiments compared to the well-off households. EXPOSED: The Shocking Truth Behind Today's Hottest Investment Opportunity Airtel-Google Deal Approved The Competition Commission of India (CCI) yesterday approved Google's proposed acquisition of a minority stake in Bharti Airtel. Google International LLC and Airtel have entered into an investment agreement to buy a minority and non-controlling stake of 1.28% of equity share capital in the telecom player. Along with the investment agreement, both companies through their affiliates have also entered into certain commercial deals. The parties also intend to enter into certain other commercial arrangements in future. FIIs Continue Selling FIIs are not done with offloading Indian shares yet. FII outflows for the month of June have set several records amid broader macro-economic uncertainties, such as a likely recession in the US, aggressive rate hikes by central banks and a global slowdown. So far in 2022, at Rs 2.1 tn, this selling by FIIs is the highest ever seen during the first-half of any calendar year and it is also the second-highest monthly outflow at Rs 450 bn with the ninth straight month of selling. FIIs are selling Indian shares big time and investing in countries like Indonesia, Brazil, among others. It remains to be seen when this persistent selling by FIIs will stop. We will keep you updated on the latest developments from this space. Stay tuned. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (SGX Nifty Trades Lower, Google-Bharti Airtel Deal, Eveready Industries AGM Highlights, and Top Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 30 Jun 10:30 AM open_in_new  EquityMaster

Indian Share Markets End Flat; Tech Mahindra, IndusInd Bank & Bajaj Finance Top Losers


Posted by Equitymaster Indian share markets traded in a rangebound fashion throughout the day today to end flat. Benchmark indices gave up early gains and slipped into red owing to weakness in auto, and IT stocks. At the closing bell, the�BSE Sensex�stood lower by 8 points. Meanwhile, the�NSE Nifty�closed lower by 19 points (down 0.1%). Axis Bank and SBI were among the�top gainers�today. Tech Mahindra and IndusInd Bank, on the other hand, were among the�top losers today. IOC share price rose 1.6% today.�Shares of IOC were under pressure�for the past couple of weeks owing to marketing margin pressure. The SGX Nifty�was trading at 15,821, up by 46 points, at the time of writing. The�BSE MidCap�index and the BSE SmallCap�index ended lower by 0.7% and 0.5%, respectively. --- Advertisement --- THOUSANDS of Readers Attended One Stock Crorepati Mega Summit Our One Stock Crorepati MEGA Summit was a huge success. Thousands of readers attended the summit LIVE. You still have a chance to watch the recording. Click here to view the Summit now Please note that, we'll take this recording offline soon. And considering you're a loyal reader of Equitymaster, we'd hate to see you miss out on it. Don't let this opportunity pass... Discover this Rare One Stock Crorepati Opportunity Now ------------------------------ Sectoral indices ended on a mixed note with stocks in the power sector and banking sector witnessing most of the buying interest. Auto stocks, IT stocks and realty stocks, on the other hand, witnessed selling pressure. Shares of Orient Bell and Axita Cotton hit their 52-week highs today. As companies publish their annual reports, check out these�4 companies which turned profitable in 2022. If you are interested in penny stocks, have a look at�these fundamentally strong penny stocks. Asian stock markets ended on a mixed note today. The Hang Seng and the Nikkei ended down by 0.6% and 1.5%, respectively. The Nikkei added 1.1%. US stock futures are trading on a negative note today with Dow Futures trading down by 351 points. Gold prices�for the latest contract on MCX are trading down by 0.2% at Rs 50,630 per 10 grams. The�rupee�is trading at 78.96 against the US$. The domestic currency stepped back from record lows hit in the previous session. Amid the rupee declining against the US dollar, Finance Minister Nirmala Sitharaman said the Indian currency is relatively better placed than other global currencies against the greenback. --- Advertisement --- [PLEASE RESPOND] Interested in Learning Cryptos? We've asked a former Wall Street market maker... Someone who is one of crypto's earliest evangelists... And has been in this space for the past 10 years... To spill all his secrets and techniques... And show you the right way to potentially capitalize on the upcoming $2.5 trillion crypto market boom... Will You Get In? ------------------------------ The domestic currency rupee hit an all-time low of 79.03. Rising interest rates, inflation and global liquidity has kept the rupee under pressure. But it this all? Or will the rupee fall more? Chartist Brijesh Bhatia answers these questions in the video below: In news from the telecom sector, Sterlite Tech has signed a definitive agreement to acquire balance 25% stake in Jiangsu Sterlite Tongguang Fiber Co. (JSTFCL) for cash consideration of Rs 650 m. The company's current shareholding in JSTFCL is 75%. Post-acquisition, JSTFCL will become a wholly owned subsidiary of Sterlite Tech. STFCL was incorporated as a joint venture between STL and Jiangsu Tongguang Information Co. in China in January 2011 to manufacture optical fiber. In an exchange filing, the company said this acquisition will ensure optical fiber supply security to support the company's expanding optical fiber cable operations. To know more, check out Sterlite Tech's financial factsheet. EXPOSED: The Shocking Truth Behind Today's Hottest Investment Opportunity Moving on to news from the batteries space, Eveready Industries was among the top buzzing stocks today. Eveready's MD and CEO in the AGM informed that that the topline growth coupled with sustainable profit and adherence to the 'highest degree of good corporate governance' will be key areas of focus for India's largest dry cell battery maker. Speaking at the annual general meeting (AGM), he said Eveready is in the midst of a transformation, building on the core strength of a solid brand, strong distribution network and significantly high market share in the core areas of battery and flashlight. Speaking about individual categories, the company is expecting the lighting business to become profitable in the immediate future. The business contributes 20% to the company's turnover. On the input cost pressure, the company highlighted that zinc is a key input for batteries which did shoot up from the second half of the last fiscal. So the company took a price hike of 12-15%, partially offsetting the cost-push. Following all these positive developments, Eveready Industries share price ended 10% higher today. To know more, check out Eveready Industries' 2021-22 annual report analysis. Speaking of smallcap stocks, lead smallcap analyst at Equitymaster Richa Agarwal believes this is neither time to be fearful nor greedy to invest in the smallcap space. According to Richa, this is the time to be highly selective. The chart above is the Smallcap to Sensex ratio. Despite the sharp rally in smallcaps, the ratio is 0.47 now. At this level, it's closer to the long-term median of 0.43 to 0.44, than to the previous peak of 0.58 in January 2018, or the higher peaks earlier. As per Richa,�in the long term, and within this decade, there is a potential for Sensex to touch 1 lakh. At median, this would imply 43,000 for smallcap index, versus 26,384 now. The individual smallcaps could fetch gains much higher than the index. But you need to select the best smallcap stocks if you want to ride the rally. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (Indian Share Markets End Flat; Tech Mahindra, IndusInd Bank & Bajaj Finance Top Losers) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 30 Jun 10:30 AM open_in_new  EquityMaster

Sensex, Nifty Trade Flat; Realty, Metal & Auto Stocks Under Pressure


Posted by Equitymaster Asian share markets opened mostly on the back foot today following another tepid lead from Wall Street as traders grew increasingly worried about the impact of surging inflation and higher interest rates. The Nikkei fell by 0.9% while the Hang Seng rose 0.3%. The Shanghai Composite is up 0.4%. Wall Street stocks were near flat at the end of a choppy session on Wednesday as the market struggled to recover from the prior session's rout. Worries about inflation, weakening consumer sentiment and tightening monetary policy have weighed on stocks. The Dow Jones was up 0.3% while the tech heavy Nasdaq dropped 0.1%. Back home, Indian share markets are trading on a flat note, following mixed global cues. --- Advertisement --- THOUSANDS of Readers Attended One Stock Crorepati Mega Summit Our One Stock Crorepati MEGA Summit was a huge success. Thousands of readers attended the summit LIVE. You still have a chance to watch the recording. Click here to view the Summit now Please note that, we'll take this recording offline soon. And considering you're a loyal reader of Equitymaster, we'd hate to see you miss out on it. Don't let this opportunity pass... Discover this Rare One Stock Crorepati Opportunity Now ------------------------------ At present, the BSE Sensex is trading up by 93 points. Meanwhile, the NSE Nifty is trading higher by 18 points. SBI and Power Grid are among the�top gainers today. Bajaj Finserv, and Ultratech Cement continue to be among the top losers today. IOC share price rose 3% today. Shares of IOC were under pressure for the past couple of weeks owing to marketing margin pressure. Broader markets are also trading on a flat note. The BSE Mid Cap index is up by 0.1%. The BSE Small Cap index is trading higher by 0.2%. Sectoral indices are trading mixed. Stocks in the realty, metal, and auto, sectors are witnessing selling. Whereas stocks in the power sector and utilities sector are witnessing most of the buying. In the commodity markets, gold prices edged higher. Today, prices are up by Rs 204, trading at Rs 50,933 per 10 grams. Meanwhile, silver prices are trading higher at Rs 59,503 per kg. Cryptos are trading on a negative note. In the past 24 hours, world's most popular cryptocurrency - Bitcoin fell over 1%. Investors in crypto markets�are not having a good night's sleep these days as coins continue to tumble in the face of a global market selloff and rising interest rates. --- Advertisement --- [PLEASE RESPOND] Interested in Learning Cryptos? We've asked a former Wall Street market maker... Someone who is one of crypto's earliest evangelists... And has been in this space for the past 10 years... To spill all his secrets and techniques... And show you the right way to potentially capitalize on the upcoming $2.5 trillion crypto market boom... Will You Get In? ------------------------------ Many crypto exchanges have paused�bitcoin�withdrawals which lead to a sharp fall in the entire crypto market. Yesterday, the rupee hit an all-time low of 79.03. Rising interest rates, inflation and global liquidity has kept the rupee under pressure. But it this all? Or will rupee fall more? Chartist Brijesh Bhatia answers these questions in the video below: In the news from wealth management sector, IIFL Wealth Management appoints a new head of the products. IIFL Wealth Management has announced the appointment of Nikunj Kedia as head of products at IIFL Wealth. Kedia, who has been with the company since 2010, has been internally elevated to this role. He was instrumental in setting up the business in Kolkata, Chennai and Hyderabad besides being responsible for the offshore business based in Singapore. In his new role, he will be responsible for third party fund manager due diligence and selection, alternative investments and deal sourcing. He started his career with American Express Financial Advisors and has close to two decades of experience in the financial services industry with expertise in advisory and wealth management. Prior to joining IIFL Wealth Management, he had founded Park Financial Advisors, with a focus on fee-based financial planning, which was acquired by Karvy Private Wealth in 2009. In the news from IT sector, Infosys has agreed to invest in The House Fund III, a US based venture capital (VC) firm. The House Fund is a US based pre-seed & early stage venture capital fund investing in start-ups founded by University of California, Berkeley's alumni, faculty, and recent graduates. The House Fund team includes top executives, founders with combined exits over US$1 bn, and 6 UC Berkeley Professors that are among the world's leading AI experts. EXPOSED: The Shocking Truth Behind Today's Hottest Investment Opportunity Infosys seeks to partner with such start-ups to complement its organic capabilities and jointly help its clients across the globe to transform their businesses. Following the news, shares of Infosys are trading in the green today. All Indian IT stocks have been falling in 2022 because of the fall in tech heavy Nasdaq. Infosys was no exception to this fall. Infosys saw a major fall in 2022. However, this fall looks like it may be temporary because the stock is a fit for Warren Buffett filter. Take a look at the 3-year price chart of Infosys, it will explain how investors have been benefitted by investing in Infosys. Infosys is a fundamentally strong company with virtually no debt. To know more about the company you can refer its factsheet and quarterly results. And to know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (Sensex, Nifty Trade Flat; Realty, Metal & Auto Stocks Under Pressure) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 30 Jun 07:31 AM open_in_new  MoneyControl

Morning Scan: All the big stories to get you started for the day


A round-up of the biggest articles from newspapers

update 30 Jun 06:51 AM open_in_new  MoneyControl

UltraTech Cement paying for Russian coal in Chinese yuan


UltraTech is bringing in 157,000 tonnes of coal from Russian producer SUEK that loaded on the bulk carrier MV Mangas from the Russian Far East port of Vanino, the document showed. It cites an invoice dated June 5 that values the cargo at 172,652,900 yuan ($25.81 million).

update 30 Jun 03:00 AM open_in_new  EquityMaster

SGX Nifty Down 34 Points, Tata Steel's Big Bet on New Tech, Jet Airways' Relaunch Plan, and Top Buzzing Stocks Today


Posted by Equitymaster On Wednesday, Indian share markets recovered from intraday's low but still ended on a negative note. Benchmark indices fell yesterday after a four-session rally, as worries about high crude oil prices and inflation returned. Further, sentiment was dampened after overnight data showed the US consumer confidence index dropped to its lowest since February 2021. At the closing bell on Wednesday, the BSE Sensex dipped 150 points, ending 0.3% lower. Meanwhile, the NSE Nifty fell 51 points, ending at 15,800. NTPC, Reliance, and Sun Pharma were among the top gainers. HUL, Axis Bank, and Bajaj Finserv were among the top losers. The broader markets ended in the red as the BSE Mid Cap index fell 0.7% while the BSE Small Cap index lost 0.3%. Among sectoral indices, buying was seen in auto sector, power sector, and energy sector while stocks in the banking sector, IT sector, and FMCG sector witnessed most of the selling. Shares of Voltamp Transformers and Phoenix Mills hit their respective�52-week highs. At 7:40 AM today, the SGX Nifty was trading down by 34 points or 0.2% lower at 15,745 levels. Indian share markets are headed for a negative opening today following the trend on SGX Nifty. As companies publish their annual reports, check out these 4 companies which turned profitable in 2022. If you are interested in penny stocks, have a look at these fundamentally strong penny stocks. Gold prices for the latest contract on MCX were trading down by 0.1% at Rs 50,750 per 10 grams at the time of Indian market closing hours yesterday. Speaking of stock markets, in the latest episode of the Investor Hour podcast, Rahul Goel talks to Ajit Dayal about asset allocation and making better investment decisions. We highly recommend you watch the hour-long podcast because Ajit Dayal has nearly four decades of experience in asset management. When he talks about asset allocation, it makes sense. Tune in below to find out more: Top Buzzing Stocks Today Infosys share price will be among the top buzzing stocks today. Infosys has agreed with The House Fund III, a venture capital fund based out of the US, for investment of US$ 10 m. The investment is a minority holding and does not exceed 20% of the fund size. It is expected to be completed today. GR Infraprojects share price will also be in focus today. The company has completed development of Purvanchal Expressway, from Mojrapur to Bijaura in Uttar Pradesh on EPC basis. The completion certificate has been issued by the Independent Engineer on 28 June and has declared the project fit for entry into commercial operation with effect from 7 March 2022. Market participants will also track Minda Industries share price. Minda Industries has acquired 0.44 m equity shares or 5.24% stake in German-based FRIWO AG, by investing 15 m Euro. Tata Steel spends big on technology development Tata Steel is betting big on new technology development over the next three to four years and has firmed up plans to pump in around Rs 12 bn as a part of its endeavour to enter materials beyond steel, a top company official said. In the new materials business, the steel giant has been focusing on graphene, which can be mixed with plastic and recycled like brand-new products, among other attributes. The company is a leading global producer of graphene-enriched products - the biggest in the country and among the top 10 in the world. The graphene business of the company is around Rs 5 bn, but expansion plans are afoot, including export of graphene-enriched products. Tata Steel has inked a pact with Digital University Kerala and Centre for Materials for Electronics Technologies, paving the way for the first graphene research and innovation centre in the country to become a reality. The steel giant has also identified advanced ceramics as one of the new materials for strategic growth. Note that Tata Steel was among the top 6 undervalued stocks that you should add to your watchlist. Jet Airways' relaunch plans According to people in the know, Jet Airways is in discussions with aircraft manufacturers and lessors to lease 6-8 planes, as it gets ready for the relaunch. Once a major player in the Indian aviation space, the carrier has not flown since 17 April 2019 and is being revived under the ownership of the Jalan-Kalrock consortium. Last month Jet Airways got its air operator certificate revalidated by the aviation safety regulator. The airline is expected to only provide domestic services initially and the airline is mulling to fly to Mumbai, Goa, Bengaluru, among others, from its new base Delhi. Mutli-purpose vehicles - The fastest growing segment As per an article in The Economic Times, multi-purpose vehicles (MPVs) have emerged as the fastest growing segment in India's passenger vehicle industry in the first five months of this year. As per estimates, as many as 138,322 MPVs were sold in the local market during January-May 2022, up 54% from a year earlier. Sales of SUVs increased 21% to 565,384 units in the same period. In the year 2021, sales of SUVs had grown 62% to 1,147,227 units, faster than MPVs which posted a 32% increase. The market share of MPVs in India's passenger vehicle sales has also increased to 9.2% in the first five months of 2022 from 6.8% a year earlier. Maruti is a dominant force to reckon with in this segment. Note that auto stocks have seen a sharp rally over the past few days as commodity prices have come down. Hero MotoCorp has gained around 10% in a week while Bajaj Auto has also rallied. Bajaj Auto shares gained this week post its buyback announcement. It remains to be seen whether this rally is here to stay or will it be short lived. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (SGX Nifty Down 34 Points, Tata Steel's Big Bet on New Tech, Jet Airways' Relaunch Plan, and Top Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 29 Jun 01:54 PM open_in_new  MoneyControl

NMDC shareholders, creditors approve Nagarnar Steel Plant demerger: CMD Sumit Deb


The demerger of NSP from NMDC is progressing, Deb who was in the national capital, told PTI.

update 29 Jun 10:30 AM open_in_new  EquityMaster

Sensex Ends 150 Points Lower, Nifty Falls Below 15,800; FMCG & Banking Stocks Witness Selling


Posted by Equitymaster After opening deep in the red, Indian share markets recovered most of the losses as the session progressed but still ended on a negative note. Benchmark indices fell today after a four-session rally, as worries about high crude oil prices and inflation returned. Further, sentiment was dampened after overnight data showed the US consumer confidence index dropped to its lowest since February 2021. At the closing bell, the BSE Sensex dipped 150 points, ending 0.3% lower. Meanwhile, the NSE Nifty fell 51 points, ending at 15,800. NTPC, Reliance, and Sun Pharma were among the top gainers today. HUL, Axis Bank, and Bajaj Finserv were among the top losers today. The broader markets ended in the red as the BSE Mid Cap index fell 0.7% while the BSE Small Cap index lost 0.3%. Among sectoral indices, buying was seen in auto sector, power sector, and energy sector while stocks in the banking sector, IT sector, and FMCG sector witnessed most of the selling. Shares of Voltamp Transformers and Phoenix Mills hit their respective�52-week highs�today. As companies publish their annual reports, check out these 4 companies which turned profitable in 2022. Outside the home ground, Asian share markets ended on a negative note today. At the close in Tokyo, the Nikkei 225 fell by 0.9%, while the Hang Seng was down 1.9%. The Shanghai Composite fell 1.4%. The SGX Nifty was trading 0.5% lower at the time of writing. The rupee is trading at 78.98 against the US$. Gold prices are currently trading down 0.1% at Rs 50,750 per 10 grams. Speaking of stock markets, in the latest episode of the Investor Hour podcast, Rahul Goel talks to Ajit Dayal about asset allocation and making better investment decisions. We highly recommend you watch the hour-long podcast because Ajit Dayal has nearly four decades of experience in asset management. When he talks about asset allocation, it makes sense. Tune in below to find out more: In news from the automobile sector, as per an article in The Economic Times, multi-purpose vehicles (MPVs) have emerged as the fastest growing segment in India's passenger vehicle industry in the first five months of this year. --- Advertisement --- "$2.5 Trillion Crypto Market Boom..." A booming $2.5 trillion market... Set to multiply by 100 times over the next decade... With legendary investors like Warren Buffet, Elon Musk, and Peter Thiel pouring in billions of dollars all over... A 35-Year-Old Secret Trading Technique That Could Guide You to Potentially Make an Average of Rs 5,000 Day After Day ------------------------------ As per estimates, as many as 138,322 MPVs were sold in the local market during January-May 2022, up 54% from a year earlier. Sales of SUVs increased 21% to 565,384 units in the same period. In the year 2021, sales of SUVs had grown 62% to 1,147,227 units, faster than MPVs which posted a 32% increase. The market share of MPVs in India's passenger vehicle sales has also increased to 9.2% in the first five months of 2022 from 6.8% a year earlier. Maruti is a dominant force to reckon with in this segment. Note that auto stocks have seen a sharp rally over the past few days as commodity prices have come down. Hero MotoCorp has gained around 10% in a week while Bajaj Auto has also rallied. Bajaj Auto shares gained this week post its buyback announcement. It remains to be seen whether this rally is here to stay or will it be short lived. In news from the banking sector, private sector banks were under pressure today. Shares of AU Small Finance Bank, RBL Bank and Bandhan Bank fell up to 10% intraday today on profitability concerns. Yesterday, chartist Brijesh Bhatia shared an update on banking stocks and explained why the Bank Nifty bulls are losing the momentum. According to Brijesh, the reversal from average is the sign the bulls are losing momentum. This might create an opportunity for bears. Revealed: A Massive 15x Opportunity in Electric Vehicles Also speaking of the banking sector, are you wondering if�it is a good time to buy banking stocks�as the central bank has announced another hike in interest rates? Look at�the NPA levels which are currently at 5-year lows, but are still a substantial 6% of the overall loan book. For now, higher lending rates have offered a bigger margin to banks. Lending rates have gone up but deposit rates are yet to catch up. So, for a few quarters, higher net interest margins will make the banks look healthy. Moving on to news from the commodity space, the rupee weakened to a new low against the US dollar today as India share markets tumbled and as overseas investors showed no signs of letting up on sales of Indian equities. Even as the Reserve Bank of India (RBI) was said to be intervening in the foreign exchange market around current dollar/rupee levels, currency dealers expect the rupee to soon breach the 79 per US dollar mark. So far in 2022, the rupee has shed around 5.8% against the dollar as higher US interest rates and a surge in global commodity prices have clouded the outlook on the currency. Stay tuned for more from this space as we bring out which stocks will benefit from a depreciating rupee. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (Sensex Ends 150 Points Lower, Nifty Falls Below 15,800; FMCG & Banking Stocks Witness Selling) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 29 Jun 10:30 AM open_in_new  EquityMaster

Sensex Trades Lower; HUL, IndusInd Bank and Titan Top Losers


Posted by Equitymaster Asian share markets tumbled more than 1% today following a sharp sell-off on Wall Street fuelled by concerns about the impact of runaway inflation on the economy. The Nikkei had a steep fall of by 1.1% while the Hang Seng fell 1.2%. The Shanghai Composite is down 0.51%. Wall Street tumbled in a broad sell-off overnight as dire consumer confidence data dampened investor optimism and fuelled worries that the Federal Reserve's aggressive battle against inflation could tip the economy into recession. The Dow Jones plummeted 1.6% while the tech heavy Nasdaq also dropped 3%. Back home, Indian share markets are trading on a negative note. Benchmark indices opened in red following the trend on SGX Nifty. Benchmark indices fell around 1% but have recovered some losses as the session progressed. At present, the BSE Sensex is trading down by 251 points. Meanwhile, the NSE Nifty is trading lower by 74 points. Ultratech Cement and Tata Steel are among the�top gainers today. Asian Paints, Titan and Wipro continue to be among the top losers today. Broader markets are also trading on a negative note. The BSE Mid Cap index is down by 0.8%. The BSE Small Cap index is trading lower by 0.1%. Sectoral indices are trading mixed. Stocks in the energy, utilities, oil and gas and basic materials sectors witnessing buying. Whereas stocks in the banking sector and consumer durables sector are witnessing most of the selling. We often compare inflation with price rise. Hence, as inflation rises, commodities become costlier. But did you know that there is a type of inflation that we cannot see? This type of inflation is called 'Shrinkflation'. In the commodity markets, gold prices edged higher. Today, prices are up by Rs 73, trading at Rs 50,895 per 10 grams. Meanwhile, silver prices are trading higher at Rs 60,423 per kg. Crude oil prices fell today after a continuous rise of three days. Investors in crypto markets�are not having a good night's sleep these days as coins continue to tumble in the face of a global market selloff and rising interest rates. Many crypto exchanges have paused�bitcoin�withdrawals which lead to a sharp fall in the entire crypto market. Speaking of stock markets, the Indian share markets have started recovering. In this situation, investors intend to make the most of the recovery. They are waiting for the right time to buy the dip just before the price go up. So, what is a critical metric that you should look out for before buying this dip. Richa Agarwal answers this question in the below video. In the news from cement sector, Springway Mining (SMPL) is now a wholly owned subsidiary of India Cements. In a regulatory filing on Tuesday India Cements said, "SMPL has become a wholly-owned subsidiary of our company with effect from June 27, 2022" The entire equity and preference shares of SMPL were acquired at a total consideration of Rs 1.8 bn. The acquisition was completed on Monday. --- Advertisement --- "$2.5 Trillion Crypto Market Boom..." A booming $2.5 trillion market... Set to multiply by 100 times over the next decade... With legendary investors like Warren Buffet, Elon Musk, and Peter Thiel pouring in billions of dollars all over... A 35-Year-Old Secret Trading Technique That Could Guide You to Potentially Make an Average of Rs 5,000 Day After Day ------------------------------ SMPL is involved mainly in mining and quarrying business, while India Cements is a leading manufacturer of cement in the country. SMPL is in the process of setting up of a cement plant in Madhya Pradesh. SMPL has no business income. However, it had reported 'other income' of Rs 1.7 m, Rs 0.5 m and Rs 24,000 for FY19, FY20 and FY21 respectively. ICL had announced the acquisition of SMPL during October 2018, with the objective of setting up a cement plant in Madhya Pradesh. Looks like Radhakishan Damani's idea of buying the stock in December 2021 has started to show its results as the share price of the company rises with the news of acquisition. This is how India Cements performed between December 2020 to December 2021. Further in the news from the telecom sector, Route Mobile has approved buy back of shares. The board of�Route Mobile approved the buyback of shares in the open market in a meeting on Tuesday.In a filing, the company informed that its board had approved Rs 1.2 bn spending to buyback shares from shareholders barring promoter, promoter group, and persons in control of the company. Revealed: A Massive 15x Opportunity in Electric Vehicles The board approved the buyback of fully paid equity shares at a maximum price of Rs 1,700. At maximum buyback price (Rs 1,700), and maximum buyback size (Rs 1.2 bn), the indicative maximum number of equity shares bought back would be 705,882, 1.12% of the total number of paid-up equity shares of the company. The board also approved the formation of a buyback committee and delegated its powers to do "all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the Buyback". Additionally, the board approved the appointment of Rathindra Das, group head legal, company secretary and compliance officer for the buyback. Route Mobile share price is currently trading down by 6%. Since buybacks interest you, check out Equitymaster's newly launched corporate action pages. Board Meetings Bonus Dividends Rights Issue Stock Split Corporate action events often bring material changes to a company through changes in the capital structure. In case of buyback, as a shareholder in cash rich companies, you should not only be wary of expensive buybacks. But if possible,�use it to your advantage to rake in some cash. To know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (Sensex Trades Lower; HUL, IndusInd Bank and Titan Top Losers) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 29 Jun 03:00 AM open_in_new  EquityMaster

SGX Nifty Down 158 Points, Tata Motors' Price Hike, Ruchi Soya Becomes Patanjali Foods, and Top Buzzing Stocks Today


Posted by Equitymaster On Tuesday, Indian share markets witnessed a volatile trading session as crude oil prices rebounded following last week's rout. Benchmark indices pared losses and were lifted by positive global peers while oil prices rose over renewed supply concerns. At the closing bell on Tuesday, the�BSE Sensex�ended flat at 53,177 (up 16 points). Meanwhile, the�NSE Nifty�closed higher by 18 points (up 0.1%). M&M, Reliance Industries, and Tata Steel were among the�top gainers. Asian Paints, Titan, and Bajaj Finserv, on the other hand, were among the�top losers. The�BSE MidCap�index and the BSE SmallCap�index both ended up by 0.2%. Among the sectoral indices, stocks in the metal sector, IT sector, and auto sector witnessed buying. On the other hand, stocks in the banking and financial sector witnessed most of the selling. Shares of Maharashtra Seamless and M&M hit their respective�52-week highs. At 7:30 AM today, the SGX Nifty was trading down by 158 points or 1% lower at 15,700 levels. Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty. As crude oil prices fell last week and there are rumors that central banks may go slow on rising interest rates, the Indian share markets recovered a bit. But no one knows how long the stock market recovery will continue. In volatile times like current one, it's better to have high ROE stocks and high dividend yield stocks in your portfolio. Investors should keep track of promoters pledging their stake as high levels of share pledging raises a big red flag. If you are interested in penny stocks, have a look at these fundamentally strong penny stocks. Gold prices for the latest contract on MCX were trading up by 0.4% at Rs 50,860 per 10 grams at the time of Indian market closing hours yesterday. Speaking of stock markets, in the latest episode of the Investor Hour podcast, Rahul Goel talks to Ajit Dayal about asset allocation and making better investment decisions. --- Advertisement --- "$2.5 Trillion Crypto Market Boom..." A booming $2.5 trillion market... Set to multiply by 100 times over the next decade... With legendary investors like Warren Buffet, Elon Musk, and Peter Thiel pouring in billions of dollars all over... A 35-Year-Old Secret Trading Technique That Could Guide You to Potentially Make an Average of Rs 5,000 Day After Day ------------------------------ We highly recommend you watch the hour-long podcast because Ajit Dayal has nearly four decades of experience in asset management. When he talks about asset allocation, it makes sense. Tune in below to find out more: Top Buzzing Stocks Today SBI share price will be among the top buzzing stocks today. This week State Bank of India received in-principle approval from central bank for its proposed operations support subsidiary which is aimed at bringing down the cost-to-income ratio. The bank will soon start a pilot run in a few regions before launching the new subsidiary pan India, the company announced. Sona BLW Precision Forgings share price will also be in focus today. The auto-ancillary stock will trade ex-dividend today. The company had set 30 June 2022 as the record date for dividends. Note that auto stocks are rising and have bucked the trend over the last 3 months. Market participants will also track Avadh Sugar & Energy share price. The small-cap sugar company has finalized 13 July 2022 as the record date for determining entitlements of members to final dividend of Rs 10 per equity share. Revealed: A Massive 15x Opportunity in Electric Vehicles Ruchi Soya Industries Becomes Patanjali Foods Edible oil firm�Ruchi Soya Industries said the name of the company has been changed to Patanjali Foods with effect from 24 June. Last month, Patanjali Ayurved sold its food retail business to group firm Ruchi Soya for Rs 6.90 bn as part of its strategy to focus on non-food, traditional medicine and wellness business. Meanwhile, Ruchi Soya recently raised Rs 43 bn through its follow-on public offer (FPO) mainly to clear its debt. To know more about the company, check out Ruchi Soya Industries' financial factsheet. Tata Motors' price hike The auto major has announced an impending price hike of its commercial vehicle range. The steep rise in overall input costs at various levels of manufacturing has pushed the company to go for a price hike. An increase in price in the range of 1.5-2.5%, will come into effect from 1 July 2022 across the range, depending upon individual model and variant, announced the company. Tata Motors' domestic total sales jumped nearly three folds in May to 76,210 units compared to 26,661 units in COVID-hit May 2021. Speaking of the automobile sector, Aditya Vora, Research Analyst at Equitymaster has this to say on the current outlook: Auto firms will no longer be only assembling companies but will transform into technology companies. As they say, catch them young. Companies like the one above which are at the forefront of technological change should be bought in this downcycle. When the cycle turns up, which in my view has already happened, these auto and auto ancillary companies will be�huge wealth creators. It's time to buy them. You can read Aditya's entire editorial here: Auto Stocks are in the Fast Lane. Is it Time to Buy? And to know what's moving the Indian stock markets today, check out the most recent�share market updates here. This article (SGX Nifty Down 158 Points, Tata Motors' Price Hike, Ruchi Soya Becomes Patanjali Foods, and Top Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 28 Jun 04:58 PM open_in_new  MoneyControl

Ruchi Soya Industries changes name to Patanjali Foods


Ruchi Soya was purchased by Baba Ramdev-led Patanjali Ayurved for Rs 4,350 crore through an insolvency process in 2019.

update 28 Jun 01:21 PM open_in_new  MoneyControl

Sebi penalises Bharti Infratel for flouting regulatory norms


In its order, Sebi found that Bharti Infratel violated the provisions of the SBEB (Share Based Employee Benefits) by not appropriating the excess 5,32,862 shares of the company within the stipulated timeline of March 31, 2017.