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SGX Nifty Trades Flat | Vedanta's Debt Reduction Plan | Tata Motors Inks Largest EV Fleet Order | Top Buzzing Stocks Today

Tue, 21 Feb Pre-Open

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On Monday, Indian share markets gave up all the early gains and ended lower.

Benchmark indices struggled for direction and ended in the red as Adani group stocks remained under pressure and as investors worried that the US Federal Reserve would keep interest rates higher for longer.

At the closing bell on Monday, the BSE Sensex stood lower by 311 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 99 points (down 0.6%).

Divis Laboratories, Hindalco, and Tech Mahindra were among the top gainers.

Cipla, Adani Enterprises, and Britannia, on the other hand, were among the top losers.

Broader markets ended on a negative note. The BSE Midcap index fell 0.1% and the BSE SmallCap index ended 0.2% lower.

Sectoral indices ended on a mixed note with stocks in the auto sector, and media sector witnessing most of the buying.

On the other hand, stocks from the banking sector, and energy sector witnessed selling pressure.

Shares of Bosch, Shree Cement, and Sonata Software hit their 52-week high on Monday.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee was trading at 81.73 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.1% at Rs 56,312 per 10 grams at the time of Indian market closing hours on Monday.

At 7:30 AM today, the SGX Nifty was trading up by 6 points or 0.1% higher at 17,870 levels.

Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Speaking of stock markets, research analyst Aditya Vora talks about a smarter way to ride the rally in steel sector, in his latest video.

He focuses on industry tailwinds which makes this proxy sector a better play than the underlying steel sector.

Tune in to the below video to find out more.

Top Buzzing Stocks Today

TCS will be among the top buzzing stocks today.

Tata Consultancy Services (TCS) has been selected by Telefónica Germany to transform its end-to-end service assurance applications and processes within its Operations Support Systems (OSS) stack and further enhance customer experience.

Towards realizing this vision, TCS will leverage best-in-class methodologies and deep cloud expertise to modernise the OSS service.

Tata Motors will also be in focus today.

Tata Motors, on 20 February 2023, signed a Memorandum of Understanding (MoU) with ride-sharing app Uber.

The companies have inked a pact for 25,000 units of Tata Motor's XPRES-T electric sedan for Uber India's premium category vehicles. This MoU marks the largest four-wheeler EV fleet order in the Indian industry.

Make: Your Investing Stress-free with Value for Money Stocks

Adani Stocks meltdown continues

The meltdown in Adani Group stocks resumed on Monday, with the flagship Adani Enterprises witnessing the most selling.

Shares of Adani Group's flagship firm, Adani Enterprises, were the top losers on Monday after the chairman Gautam Adani's net worth slipped to less than $50 billion as of 20 February 2023.

Adani Enterprises shares slipped up to 9.33% to Rs 1561.1 against the previous close of Rs 1721.8. The stock is down 58.16% this year. In a year, Adani Enterprises' stock has lost 7.02%.

The decline was the maximum compared to other group companies today.

While Adani Ports hit an intraday low of Rs 560.05, down 3.24%, Adani Total Gas slipped 5% to Rs 925.1.

Adani Wilmar stock hit an intraday low of Rs 420.1, down 4.08%.

The sell-off in the Adani group stocks continued despite India Inc. and the government hit back at George Soros.

Crayons Advertising to go Public

Crayons Advertising Limited, India's leading ad agency, on 20 February 2023 filed Draft Red Herring Prospectus (DRHP) with NSE Emerge for its initial public offering (IPO)

The first major advertising agency in India has announced that it aims to invest in cutting-edge technology to offer comprehensive ad-tech solutions.

Through the book-building process, the company aims to issue 6.43 million (m) equity shares with a face value of Rs 10 apiece. The issue's book-running primary manager is Corporate Capital Ventures. While Skyline Financial Services will serve as the issue's registrar.

The proceeds from the initial public offering will be used to build infrastructure and cutting-edge technology for expansion and funding working capital requirements.

The company recently declared that it has bagged major contracts from organisations including TATA SONS, National Skill Development Corporation, Indian Oil Corporation, TATA Croma, and Bank of Baroda.

For more details, check out the current IPOs and upcoming IPOs on our website.

Vedanta's Debt Reduction Plan at Risk

Vedanta Resources' efforts to manage its debt load were dealt a blow after the government opposed the mining conglomerate's proposed US$ 2.98 billion (bn) deal to move certain zinc assets from its flagship company to another in which it is a majority shareholder.

The government, which owns a nearly 30% stake in Hindustan Zinc, is against the miner buying some Africa-based zinc assets from Vedanta, its top shareholder with a near-65% stake, as it was a related party transaction.

The development comes a week after Vedanta Resources said it had slashed net debt by US$ 2 bn in the last 11 months, with plans to cut it further, seeking to allay concerns after S&P Global Ratings raised doubts about the group's financial health.

S&P Global had said Vedanta Resources' ability to meet its financial obligations beyond September would depend on a planned $2 billion fundraising and proposed sale of THL Zinc.

That deal announced is now in doubt after the government-nominated directors on Hindustan Zinc's board opposed the acquisition.

While miner Vedanta has been hit by a fall in commodity prices, Vedanta Resources will be bolstered by its associate firms' investment in areas like semiconductors, display glass, renewables, optical fibre, and transmission.

With forming a recent joint venture with Foxconn to manufacture semiconductor chips, the company has made its space among?India's top 5 semiconductor stocks.

Also as China tries to move up the technology supply chain with advanced chips, the US is getting wary, this makes semiconductor the top Indian megatrends.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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