Gift Nifty Trades Flat | GAIL Signs LNG Deal with Vitol | Tata Motors Launches Electric Platform | Top Buzzing Stocks Today

Mon, 8 Jan Pre-Open

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On Friday, Indian share markets continued the momentum as the session progressed and ended the day higher.

Indian benchmark indices extended rally to Friday's trade led by gains in banks, RIL and IT stocks.

At the closing bell on Friday, the BSE Sensex closed up by 164 points (up 0.2%).

Meanwhile, the NSE Nifty closed up by 52 points (up 0.2%).

TCS, Infosys and Adani Ports were among the top gainers.

Nestle, UPL and JSW Steel on the other hand, were among the top losers.

Broader markets ended on positive note. The BSE MidCap index ended 0.1% higher and BSE SmallCap index ended 0.6% higher.

Sectoral indices ended mixed with stocks in the capital goods sector, IT sector and auto sector witnessing most of the buying. Meanwhile, stocks in healthcare and metal sector witness selling pressure.

The rupee was trading at 83.16 against the US$.

Gold prices for the latest contract on MCX were trading 0.2% lower at Rs 62,540 per 10 grams at the time of Indian market closing hours on Friday.

At 7:35 AM today, the Gift Nifty was trading 9 points lower at 21,769 levels.

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

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

Waaree Renewable share price will be in focus today.

shares of Waaree Renewable Technologies surged 10% in the early trade on 5 January to hit a record high of Rs 2,703.9 after the company said that its board would consider a stock split on 20 January.

If approved, this will mark the first instance of a stock split by the company.

Suzlon Energy will also be a top buzzing stock.

Shares of Suzlon Energy gained over 2% on 5 January after the company bagged a new order for the development of a 225-MW wind power project from Everrenew Energy Private.

HDFC Bank Advances Soar

The largest private sector lender, HDFC Bank, clocked 62.4% YoY growth in gross advances at Rs 24.7 trillion (tn) as of December 2023.

Sequentially, the advances rose by nearly 4.9% from Rs 23.6 tn as of the September 2023 quarter.

The figures for December 2023 included the business operations of HDFC as well and hence cannot be directly compared with the year-ago period.

The lender noted that according to its internal classification, domestic retail loans surged over 110% (YoY). Commercial & rural banking loans improved by nearly 31.5%, and other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by around 11%.

During the reported period, total deposits reached approximately Rs 22.1 tn, rising nearly 27.7% from Rs 17.3 tn in December 2022 and had a sequential growth of around 1.9% from the quarter ended in September 2023 quarter.

Retail deposits of the private sector major rose by Rs 530 bn during the quarter and grew by around 28.4% over the December 2022 quarter. Meanwhile, the wholesale deposits saw an improvement of around 24.4% from December 2022. However, sequentially it declined by nearly 3.4% from Q2FY24.

Meanwhile, the bank's CASA deposits rose 9.5% to Rs 8.3 tn as of 31 December 2023 from Rs 7.6 tn as of 31 December 2022.

GAIL Signs LNG Deal With Vitol

GAIL (India) Limited has signed a deal with global commodity trader Vitol Asia to buy around one million metric tons of liquefied natural gas (LNG) annually for 10 years, starting in 2026.

Vitol will deliver LNG from its global LNG portfolio to GAIL at various locations in India.

Indian companies are investing billions of dollars to build natural gas infrastructure and are scouting for long-term LNG import deals as the nation wants to raise the share of natural gas in its energy mix to 15% by 2030 from the current 6.3%.

India was a growing LNG market, and the company would bring the supply from its global portfolio to meet India's demand.

GAIL is a leading natural gas company in India involved in its trading, transmission and production and operates a network of more than 16,000 km of natural gas pipelines.

The state-owned oil and gas company has over 70% market share in gas transmission and a gas trading share of over 50%.

The transition from grey to green hydrogen is happening at a faster pace than expected. GAIL is contributing to this transition, making it among India's Top Green Hydrogen Stocks.

Tata Motors Launches Electric Platform

Tata Passenger Electric Mobility (TPEM), the electric vehicle arm of Tata Motors, unveiled Punch.ev, which is based on its new 'pure EV' architecture 'acti. ev'.

The Mumbai-based carmaker revealed that acti.ev, which the company has positioned as compact vehicle architecture, will also underpin the upcoming Harrier EV, Curvv EV and Sierra EV.

The company mentioned that acti.ev (pronounced as active) stands for Advanced Connected Tech-Intelligent Electric Vehicle and will underpin future products from the TPEM portfolio.

Starting on 5 January, customers can book their Punch.ev at a token amount of Rs 21,000. The price range of Punch.ev will be revealed on the launch day later this month.

The electric variant of Punch was unveiled days after Tata Motors launched two EV-exclusive showrooms in Gurugram. The homegrown automaker plans to open new EV showrooms across Tier-I and Tier-II cities in the next 12-18 months.

Tata Motors had earlier already announced that it will invest approximately US$2 billion in battery-powered vehicles by 2027, while simultaneously bolstering its domestic electric vehicle supply chain by building a battery manufacturing facility in Gujarat.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

The shares of the company are making back-to-back record highs. To know why, check out Why Tata Motors' share price is rising.

And 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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