SGX Nifty Down 49 Points | Welspun Enterprises Buyback & Dividend | Adani Group Acquires Additional Stake in NDTV | Top Buzzing Stocks Today

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On Friday, Indian share markets Indian share markets pared gains and slipped into the red during closing hours.

Benchmark indices ended the last trading in the red but registered an impressive 2022 despite a turbulent year where most global indices lost ground.

During the day, indices remained flat for most of the session but tanked sharply in the final hour with Sensex shedding almost 0.5%. The fall was largely due to selling witnessed in index heavyweight stocks.

At the closing bell on Friday, the BSE Sensex stood lower by 293 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 86 points (down 0.5%).

Bajaj Finserv, Coal India, and Titan were among the top gainers.

SBI Life Insurance, ICICI Bank, and Bharti Airtel, on the other hand, were among the top losers.

Broader markets settled on a positive note. The BSE MidCap inched 0.4% higher while the BSE SmallCap index ended 0.8% higher.

Sectoral indices ended on a mixed note with stocks in the realty sector, oil and gas sector, and metal sector witnessing heavy buying.

While stocks in the FMCG sector, banking sector, and power sector witnessed selling.

Shares of Solar Industries, Jindal Steel and Power, RBL Bank hit their 52-week high on Friday.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee was trading at 82.7 against the US$.

Gold prices for the latest contract on MCX were trading down by 0.1% at Rs 54,940 per 10 grams, at the time of Indian market closing hours on Friday.

At 8:15 AM today, the SGX Nifty was trading down by 49 points or 0.3% lower at 18,170 levels.

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

Speaking of stock markets, as the year 2022 is about to end, it's time to look at the stocks that will make your portfolio better in 2023. It is the time you found what should be the top 3 stock picks for 2023.

In the below video, Research Analyst at Equitymaster Aditya Vora talks about a daredevil stock for 2023.

Top Buzzing Stocks Today

Lotus Chocolate will be among the top buzzing stocks today.

A unit of Reliance Retail Ventures agreed to buy a majority stake in the Indian chocolate maker for Rs 740 million (m).

The capital infused will help drive the growth and expansion of the company into a comprehensive confectionery, cocoa, chocolate derivatives and related products manufacturer across industrial and consumer markets.

HG Infra share price will also be in focus today.

The company received a letter of award (LOA) from the National Highways Authority of India (NHAI) for a project in Haryana.

The scope of the project entails the construction of a 6-lane Greenfield Karnal Ring Road starting from NH44 near Village Shamgarh and terminating at Karnal -Munak Road near Village Samalakha under Bharatmala Pariyojana in Haryana.

Welspun Enterprises Announces Buyback and Dividend

Welspun Enterprises, on 30 December 2022, announced a share buyback plan of Rs 2 bn for Rs 200 apiece.

Additionally, the board has also approved the special dividend of Rs 7.5 per share.

The buyback size represents 14.2% of the total paid-up equity share capital and 15.7% of free reserves.

The board has convened Extra Ordinary General Meeting, scheduled to be held on Tuesday, 24 January 2023, for obtaining approval to buyback from the shareholders.

The dividend will be rolled out with a face value of Rs 10 each at the rate of 75% for the financial year 2022-23.

Welspun Enterprises is a part of Welspun Group, an infrastructure development company. The company specialises in road and water projects under the Hybrid Annuity Model and via large-value Engineering, Procurement and Construction contracts.

Adani Group acquires additional stake in NDTV

The Adani Group on Friday said it acquired a 27.3% equity stake in NDTV from Prannoy Roy and his wife Radhika Roy, founders of the news broadcaster.

On 23 December 2022, Prannoy Roy and Radhika Roy announced selling 27.3% out of their remaining 32.3% shareholding in the NDTV to the Adani Group.

Their stake was acquired by Adani Group at the price of Rs 342.7 per share.

Adani Group acquired a 29.2% stake in NDTV by buying a company backed by the television network's founders, Radhika Roy and Prannoy Roy.

Thereafter it made an open offer to acquire an additional 26% from public shareholders.

That open offer found investors willing to sell over 0.5 m shares of NDTV despite the deep discount on the stock's trading price.

Most of the Adani group stocks have given multibagger returns, making them the fastest growing stocks of 2022.

Reliance seeks bids for the sale of KG-D6 gas

Reliance Industries and its partner BP PLC of the UK have sought bids for the sale of natural gas from the eastern offshore KG-D6 block at a price linked to the rate at which LNG is delivered to Japan and Korea.

The two partners invited bids for the sale of 6 m standard cubic meters per day of gas starting February 2023.

Users such as city gas operators that convert gas into CNG for sale to automobiles and pipe it to household kitchens for cooking purposes have been asked to quote a premium they are willing to pay over the JKM price.

JKM is the Northeast Asian spot price index for LNG delivered ex-ship to Japan and Korea. JKM's price for February is USD 28.83 per million British thermal units.

Bidders will have to quote variable V in the gas price formula JKM V.

The starting bid for V will be at US$(minus) 0.3 mmBtu. Each Bidder is required to enter bids that are higher than or equal to the starting.

The maximum valid bid for V shall be US$ 5 per metric million British thermal units, beyond which the bid shall not be accepted by the e-bidding portal.

Reliance has so far made 19 gas discoveries in the KG-D6 block. Of these, D-1 and D-3, the largest among the lot, were brought into production in April 2009. MA, the only oilfield in the block, was put into production in September 2008.

To know what's moving the Indian stock markets, 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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