Sensex Trades Over 400 Points Higher; Dow Futures Up By 162 Points

Fri, 8 Jan 12:30 pm

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Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up 476 points, up 1% at 48,568 levels.

Meanwhile, the NSE Nifty is trading up by 152 points.

Maruti Suzuki and UPL are among the top gainers today. Hindalco and HDFC are among the top losers today.

Both the BSE Mid Cap and BSE Small Cap index are trading up by 1%.

On the sectoral front, barring the telecom sector, all sectors are trading in green.

US stock futures are trading higher today, indicating a positive opening for Wall Street indices.

Nasdaq Futures are trading up by 38 points (up 0.3%) while Dow Futures are trading up by 162 points (up 0.5%).

The rupee is trading at 73.32 against the US$.

Gold prices are trading down 0.5% at Rs 50,649 per 10 grams.

In global markets, gold prices moved slightly lower today amid a stronger US dollar and higher yields. But hopes for additional US fiscal stimulus under incoming President Joe Biden administration capped the losses. Spot gold eased 0.1% but the precious metal is still on track for a weekly gain of 0.7%.

Tracking flat global rates, gold prices today edged lower in Indian markets. February gold futures on MCX fell 0.3% to Rs 50,775 per 10 grams, in its second decline in three days. In the previous session, gold had jumped 0.9% after crashing nearly Rs 1,200 per 10 grams on December 6.

Note that compared to the August highs of Rs 56,200, gold prices are down about Rs 6,000 per 10 grams.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of stock markets, India's #1 trader, Vijay Bhambwani, talks about the pros and cons of trading indices via ETFs and trading individual stocks, in one of his latest videos for Fast Profits Daily.

Tune in here to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Biocon Biologics.

Biocon on January 7 announced that the board of its subsidiary Biocon Biologics has approved a US$ 75 million (Rs 5.5 billion) capital injection from the Abu Dhabi government's sovereign wealth fund ADQ in lieu of a 1.8% stake.

The latest transaction is the fourth successive fundraise by Biocon Biologics in the last 12 months as it looks to unlock value for the shareholders of its parent and scale up its research and development and manufacturing capabilities.

Previous fundraising rounds have seen participation by Wall Street powerhouse Goldman Sachs, Tata Capital's private equity arm and India-focused private equity firm True North which invested a combined sum of US$ 255 million.

The deal was struck at a post-money equity valuation of US$ 4.2 billion for Biocon Biologics which is planning an initial public offering (IPO) in the next 2-3 years. It also marks the debut investment by ADQ in the domestic pharma and healthcare segment and opens the doors of the Middle East market to Biocon.

Biocon Biologics has one of the largest biosimilars portfolios globally, spanning recombinant human Insulin (rh-Insulin), insulin analogs, monoclonal antibodies and therapeutic proteins for oncology, immunology and other chronic disease areas. The company also has the full spectrum of insulins (regular, basal and rapid) in its pipeline for the purpose of treating diabetes patients.

According to Biocon's latest annual report, the Biologics business ended FY20 reporting a 29% growth in revenue at Rs 19.5 billion. The market opportunity is also expected to double over the next couple of years with developed market sales projected to increase in FY21 and beyond.

Biocon Biologics has a "presence in the majority of the top 20 markets, which should aid expansion in most-of-the world (MoW) markets with further uptake, the launch of new products and entry into new markets," it said.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, Biocon Biologics share price was trading up by 2.4% on the BSE.

Moving on to news from the aluminium sector...

NALCO To Invest Rs 300 Billion on Expansion By 2027-28

Union minister Pralhad Joshi on January 7 said that state-run National Aluminium Company (NALCO) will invest around Rs 300 billion for its ambitious expansion and diversification projects in the next six to seven years (2027-28), which will help achieve the Centre's goal of 'Atmanirbhar Bharat'.

He said Rs 220 billion will be spent on the expansion of the company's aluminium smelter unit and construction of a 1400-MW feeder captive power plant (CPP) in Angul and over Rs 70 billion will be used for the fifth stream refinery, development of Pottangi bauxite mine and Utkal D & E coal blocks.

Joshi said the Centre is keen to utilize natural resources optimally for the welfare and development of Odisha and extending full support to the mineral-rich state so that the production of strategic raw materials continues without any interruption.

"To expedite mineral production in the state, we have approved the proposals to allot two iron ore blocks to Odisha Mineral Corporation and one mine to Odisha Mineral Exploration Corporation Ltd on the request of the state," he said.

Relaxation in norms for auction of mineral blocks is being considered to expedite the procedure, he said. The Centre will amend rules to ensure that production of minerals will become seamless and non-serious entities are barred from participating in the process.

Joshi said NALCO, in association with the Odisha government, is also setting up a world-class aluminium park in Angul to encourage the development of downstream and ancillary industries in the state. This will enhance employment in the area and give a boost to local entrepreneurship, he said.

The announcement of the expansion plans of NALCO came three days after Union Petroleum and Steel Minister Dharmendra Pradhan wrote to Joshi to expedite the process of capacity expansion for its aluminium smelter. Pradhan urged him to take necessary steps for increasing NALCO's smelter plant capacity to 1 million tonnes per annum (MTPA) from the existing 0.5 MTPA.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

Speaking of the stock markets, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these four stages.

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.

If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

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

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