Sanstar Files for IPO | Nifty Realty Hits Record High | Top Buzzing Stocks Today

Fri, 5 Jan Pre-Open

   Previous Close   

On Thursday, Indian share markets continued the momentum as the session progressed and ended the day on firm footing

Indian benchmark Torrent Power is an integrated power utility and is one of the largest private sector players in India.

At the closing bell on Thursday, the BSE Sensex closed up by 491 points (up 0.7%).

Meanwhile, the NSE Nifty closed up by 141 points (up 0.7%).

NTPC, ONGC and Bajaj Finance were among the top gainers.

BPCL, HCL Tech and Hero MotoCorp on the other hand, were among the top losers.

Broader markets ended on positive note. The BSE MidCap index ended 0.3% higher and BSE SmallCap index ended 0.2% higher.

Barring auto sector, all other sectoral indices ended mixed with stocks in the power sector, finance sector and realty sector witnessing most of the buying.

The rupee was trading at 83.23 against the US$.

Gold prices for the latest contract on MCX were trading 0.3% higher at Rs 62,720 per 10 grams at the time of Indian market closing hours on Thursday.

Speaking of stock markets, arriving at a reasonable estimate of a stock's intrinsic value is easy. However, there are errors that can creep in and even the most astute analysts can fall prey to them.

So, what exactly are these errors and how are they associated with a stock like Titagarh Rail Systems.

Tune into below video for more

Top buzzing stocks today

Vedanta share price will be in focus today.

Shares of Vedanta Limited gained 1.2% at the open on 4 January 2024 after Vedanta Resources received the bondholders' consent to restructure four series of bonds.

Vedanta Resources, on 3 January 2024, announced that more than 97% of bondholders approved the restructuring of US$ 3.2 billion (bn) worth of bonds due to mature in the next three years.

Torrent power will also be a top buzzing stock.

Torrent Power shares hit a fresh 52-week high, jumping 13.5% in trade, on 4 January as the power utility firm signed four contracts with the Gujarat government for a total of Rs 473.5 bn.

As part of the four non-binding memoranda of understanding (MoUs), the power utility arm of the diversified Torrent Group will invest Rs 473.5 bn in renewable energy, green hydrogen, and power distribution projects.

Sanstar Files for IPO

Ahmedabad-based Sanstar, which specialises in plant-based products, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) for raising funds through an initial public offering (IPO). The firm is looking to raise around Rs 3.8-4.3 bn through the offer.

The IPO will be a mix of a fresh issue of four crore shares and an offer-for-sale (OFS) of 8 m shares by the Chowdhary family.

The company may also consider raising funds through private placement, rights issues, or preferential issues of up to 4 m equity shares before filing the red herring prospectus.

If the company manages to raise funds in pre-IPO placement, the fresh issue size will be reduced.

Sanstar, which manufactures plant-based speciality products and ingredient solutions for food, animal nutrition and other industrial applications, is going to spend Rs 1.8 bn on the expansion of its Dhule facility and repay the debt of Rs 100 crore. The company's outstanding borrowings stood at Rs 1.2 bn as of 15 December.

The remaining fresh issue money will be set aside for general corporate purposes.

With an installed capacity of 3.63 lakh tonnes per annum, Sanstar is the third largest manufacturer of maize-based speciality products and ingredient solutions in India.

It has two manufacturing facilities at Dhule in Maharashtra and Kutch in Gujarat.

For more information on IPOs, check out the list of upcoming IPOs.

Balaji Amines Subsidiary Gets Mega Project Status

Balaji Amines was up 3% after the subsidiary received the status of a mega project from the Maharashtra government on 4 January.

The mega status project was given to the 'Expansion Project for Manufacture Speciality Chemicals' by Balaji Speciality Chemicals Limited, a subsidiary of Balaji Speciality Chemicals. The proposed investment for this is Rs 7.5 bn.

The company is planning to undertake capex for a new product, namely n-Butylamine which is used as an ingredient in the manufacturing of pharmaceuticals, APIs, pesticides and emulsifiers. The capacity for this is 15,000 TPA. The annual domestic demand for n-butylamine stands at 8000 tons.

Nifty Realty Surges All-Time High

Shares of several real estate companies were on a roll on 4 January, with the Nifty Realty index surging more than 6% to a fresh all-time high of 836.45.

The gains were led by Sobha which zoomed 20% to a new record high.

Project launches on its large land parcels in Bengaluru and Tamil Nadu will drive re-rating for Sobha's existing land valuation.

Shares of Lodha, listed as Macrotech Developers, jumped over 8% after the company finalised agreements for the acquisition of a 100% stake in Goel Ganga Ventures India.

Following this transaction, GGVIPL is set to become a wholly-owned subsidiary of the company.

Godrej Properties stock also rallied 8% intraday and the stock has been in an uptrend after the company, on 3 January, announced its acquisition of a 4-acre land parcel in Bengaluru for a luxury housing project.

This project is estimated to have a developable potential of about 0.7 million square feet of saleable area, comprising primarily premium residential apartments, and a revenue of Rs 10 bn through sales of those apartments.

Oberoi Realty shares zoomed around 7% after the company announced a management change.

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers