SGX Nifty Down 53 Points | Why there's a Delay in Oyo IPO | the Latest on NDTV Takeover | Top Buzzing Stocks Today

Wed, 4 Jan Pre-Open

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On Tuesday, Indian share markets swung between gains and losses and experienced a volatile trading day.

Benchmark indices remained flat for most of the session and closed with marginal gains. With US markets closed for holidays, global cues played a minor role in yesterday's session with all eyes on quarterly earnings.

IT companies will be the first ones to report their earnings starting next week. TCS will declare its results on 9 January 2022.

At the closing bell on Tuesday, the BSE Sensex stood higher by 126 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 35 points (up 0.2%).

HDFC Life, SBI Life Insurance, and Axis Bank were among the top gainers.

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

Broader markets ended on a positive note. Both, the BSE Midcap and the BSE SmallCap index ended 0.2% higher.

Sectoral indices ended on a mixed note with stocks in the healthcare sector, IT sector, and finance sector witnessing most of the buying.

On the other hand, stocks from the auto sector, and metal sector witnessed selling pressure.

Shares of Solar Industries, Axis Bank, and Swan Energy hit their 52-week high on Tuesday.

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 82.88 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.8% at Rs 55,619 per 10 grams, at the time of Indian market closing hours on Tuesday.

At 7:50 AM today, the SGX Nifty was trading down by 53 points or 0.3% lower at 18,250 levels.

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

Speaking of stock markets, the Tata group is gearing up to bring another TCS to the market - Tata Electronics.

The recent development that has put Tata Electronics in the spotlight is Tata Sons Chairman Natarajan Chandrasekaran confirming the company's plans to venture into the semiconductor business, which is pegged to reach US$ 1 trillion revenue by 2030 globally.

Tata Electronics could get listed anytime in 2023.

In the below video, co-head of research Tanushree Banerjee talks about how this Tata group stock can ride tailwinds that TCS rode for decades.

Top Buzzing Stocks Today

Rama Steel Tubes will be among the top buzzing stocks today.

The company on Tuesday recorded its highest sales volume of 53,216.2 tons in the December 2022 quarter.

For nine months, from April to December 2022, the company's sales volume rose to 131,824.8 tons compared to 71,071.4 tons last year.

Federal Bank share price will also be in focus today.

Federal Bank on Tuesday posted 19.1% year-on-year (YoY) growth in advances for December 2022 quarter (Q3FY23), aided by demand in the festive season.

It had posted 12% growth in the same quarter last year.

Adani Group to pay an additional price for NDTV shares

Adani Group has decided to pay an additional price for New Delhi Television Ltd (NDTV) shares bought under the open offer. It was as the transfer price for shares bought from another promoter was higher than that of the open offer price.

Adani Enterprises on Tuesday announced the payment of an additional Rs 48.6 per share to NDTV investors who sold their shares to the conglomerate in its open offer for the news network.

This takes the offer price to Rs 342.6 per share, matching what Adani Group had paid NDTV founders when they sold their stake to the conglomerate last week.

NDTV's open offer price was Rs 294 per share, and the promoter transfer price was Rs 342.6 per share.

Adani had unveiled plans late in August to acquire a majority stake in NDTV.

Adani Enterprises launched the open offer to acquire an additional 26% stake in NDTV from 22 November 2022 till 5 December 2022.

Adani Enterprises, through subsidiaries RRPR Holding and Vishvapradhan Commercial, now owns 64.72% of NDTV, which runs three national channels.

NDTV will give Adani group a footprint in the media space as part of its broader diversification spree that has led to the expansion of the conglomerate beyond coal mining and ports into airports, data centres, cement and digital services.

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

OYO's IPO delayed

Capital markets regulator has asked Oravel Stays, the parent company of travel-tech firm OYO, to refile the draft IPO papers with certain updates.

The move might delay the Gurugram-based hospitality unicorn's initial public offering (IPO).

OYO filed preliminary documents with the regulator in September 2021 for Rs 84.3 bn IPO.

The proposed offering consists of a fresh issue of shares of up to Rs 70 bn and an offer-for-sale of as much as Rs 14.3 bn.

According to an update from the regulator's website on Tuesday, the markets regulator returned the company's draft red herring prospectus (DRHP) on 30 December 2022 and asked the firm to refile it with applicable revisions.

The regulator has not elaborated on the updates or revisions required in the draft documents.

This is expected to delay OYO's initial public offering (IPO). OYO was targeting an early 2023 offering if the market and economic conditions allow it.

To know more about IPOs, check out the?upcoming IPO?section on our website

Bank of Maharashtra Q3 loan grows 22%

State-owned Bank of Maharashtra on Tuesday posted a credit growth of 21.8% to Rs 1.6 trillion (tn) for December 2022 quarter, reflecting improved demand for loans with the Indian economy showing stability despite global headwinds.

The total mobilised deposits grew by 11.7% YoY to Rs 2.1 tn. This is higher as compared to last quarter.

The CASA (Current Account and Savings Account) deposits rose to 6.55 to Rs 1.1 tn. The CASA ratio to total deposit thus stands at 52.4%.

It recorded a total business growth of 15.8% to Rs 3.7 tn at the end of the third quarter, as compared to Rs 3.2 tn at the end of the same quarter in the previous fiscal year.

BharatPe appoints interim CEO

BharatPe's CEO, Suhail Sameer, will step down from the top job and transition into a strategic advisor on 7 January 2023.

Sameer took over as the CEO of BharatPe in August 2021, a year after being appointed as the company's president in August 2020.

The fintech unicorn has thus appointed current chief financial officer Nalin Negi as the firm's interim chief executive officer (CEO) until its board finds a replacement for Suhail Sameer.

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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