Gift Nifty Up 18 Points | Adani's JV Partners Global Team | Maruti Suzuki's December Sales Dip | Top Buzzing Stocks Today

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On Friday, Indian share markets reversed the trend as the session progressed and ended the day higher.

Indian benchmark indices witnessed wild swings in trades on Monday, the first session of CY2024, during the fag-end of the session.

At the closing bell on Friday, the BSE Sensex closed up by 31 points.

Meanwhile, the NSE Nifty closed higher by 10 points.

Nestle, Coal India and Adani Ports were among the top gainers.

Eicher Motors, M&M and Hindalco on the other hand, were among the top losers.

Broader markets ended on positive note. The BSE MidCap index ended 0.5% higher and BSE SmallCap index ended higher by 0.7%.

Sectoral indices ended mixed with stocks in the telecom sector, energy sector and FMCG sector witnessing most of the buying. Meanwhile stocks in banking sector and energy sector witness selling.

The rupee was trading at 83.2 against the US$.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 63,320 per 10 grams at the time of Indian market closing hours on Monday.

At ,7:40 AM today, the Gift Nifty was trading 18 points higher at 21,862 levels.

Indian share markets are headed for a positive opening today following the trend on Gift Nifty.

Speaking of stock markets, with the rise of electric vehicles and renewable energy, the world may be on the verge of a revolution in transportation and energy technology.

This could transform the oil market the way the coal market was transformed a century ago.

Like coal then, oil could see its share in energy demand plummet in the coming decades.

In the below video, Research Analyst Tanushree Banerjee talks about green energy stock to profit from the end of the oil age.

Top buzzing stocks today

BHEL share price will be in focus today.

Shares of Bharat Heavy Electricals (BHEL) hit a multi-year high on reports that the state-owned company won a Rs 194.2 bn turnkey contract from another public sector company NLC India..

Yes Bank will also be a top buzzing stock.

Yes Bank shares witnessed buying interest in early morning deals on the first trade session of the new year 2024.

This Surge was seen after the private lender's declaration to receive Rs 1.5 bn from a single trust in the Security Receipts Portfolio after the NPA portfolio sale.

Adani's JV Partners Global Team

Adani's joint venture with Mumbai's slum rehabilitation authority has hired a global team to redevelop Dharavi, a key step in rebuilding one of Asia's biggest slums amid growing opposition to the project.

Dharavi, about three-quarters the size of New York's Central Park, is a crowded area that houses thousands of poor families in cramped quarters in the centre of India's financial capital.

Rebuilding it is a mammoth task, which was first mooted in the 1980s.

The state government of Maharashtra in July approved Adani's US$ 619 million (m) bid to redevelop the area that covers 625 acres.

The joint venture, Dharavi Redevelopment Project (DRPPL), on Monday partnered with architect Hafeez Contractor, who has done many social housing projects, US design firm Sasaki and consultancy firm Buro Happold from the UK for the redevelopment.

DRPPL was set up in July and the hiring of the team assumes significance as it comes amid allegations from a rival bidder that Prime Minister Narendra Modi's allies afforded Adani favourable treatment while residents worry about his capacity to deliver amid high-profile financial setbacks.

The Adani group has said the Dharavi project was awarded through a fair, open and internationally competitive bidding process. The state government has denied any wrongdoing.

India's two richest men, Mukesh Ambani and Gautam Adani are locked in a race for the top spot. For more, check out Adani vs Ambani - All Your Questions Answered.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analysis on one screen.

Dig deeper into Adani group stocks

Maruti Suzuki's December Sales Dip

Moving on to news from the auto sector, India's largest car maker, Maruti Suzuki, on Monday recorded a dip in its sales figures in December 2023 compared to the same month in 2022.

According to the data, it sold 137,551 cars in the month compared to 139,347 units in December 2022. The dip was witnessed in all the passenger vehicle segments except utility vehicles.

However, the exports jumped to 26,884 units, higher than 21,796 units in December 2022. During 2023, the company's exports touched an all-time high of 269,046 units. In 2022, the total exports were 263,068 units.

According to the data, MSIL's mini segment, which includes cars like Alto and S-Presso, saw its sales drop from 9,765 units in December 2022 to 2,557 units. In the company segment, the sales fell from 57,502 units to 45,741 units during the same period.

Maruti Suzuki is at the forefront of the electric vehicle (EV) megatrend.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

To know more, check out: Maruti Suzuki Share Price at Rs 15,000: Realistic or Farfetched?

M&M's December Figures

Shares of automobile major Mahindra and Mahindra tumbled almost 2% to Rs 1,701 in afternoon trade after the company reported a marginal 6% increase in December sales, selling 60,188 units.

In the Utility Vehicles segment, Mahindra sold 35,171 vehicles in the domestic market, a growth of 24%. The domestic sales for commercial vehicles stood at 17,888.

In terms of exports, Mahindra dispatched a total of 1,819 units in December 2023, in comparison to 3,100 units during the same period last year. This resulted in a 41% YoY decline.

As for its three-wheeler business, Mahindra sold 5,307 units compared to 5,052 units, marking an increase of 5%. In the electric three-wheeler business, Mahindra leads with the highest market share followed by Bajaj Auto.

M&M stands among Top 6 EV Stocks to Watch Out in Nifty's Runup to 40,000.

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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