Gift Nifty Up 116 | Tata Autocomp Systems IPO | Why FMCG Stocks Are Falling | Top Buzzing Stocks Today

Tue, 9 Jan Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Monday, Indian share markets extended losses as the session progressed and ended the day on a weak note.

Indian benchmark indices declined sharply in Monday's trade amid broad-based selloff. Further, investors eyed the US inflation data and also preferred to stay on the sidelines ahead of the earnings season which kickstarts on Thursday.

At the closing bell on Monday, the BSE Sensex closed down by 665 points (down 0.9%).

Meanwhile, the NSE Nifty closed down by 200 points (down 0.9%).

ONGC, BPCL and Adani Ports were among the top gainers.

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

Broader markets ended on positive note. The BSE MidCap index ended 0.9% lower and BSE SmallCap index ended 0.4% lower.

Sectoral indices ended mixed with stocks in the power sector and realty sector witnessing most of the buying. Meanwhile, stocks in FMCG sector, banking sector and metal sector witness selling pressure.

The rupee was trading at 83.15 against the US$.

Gold prices for the latest contract on MCX were trading 0.5% lower at Rs 62,208 per 10 grams at the time of Indian market closing hours on Monday.

At 7:35 AM today, the Gift Nifty was trading 116 points higher at 21,693 levels.

Indian share markets are headed for a positive 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

Godrej Industries share price will be in focus today.

Godrej Industries' share price touched a 52-week high in the early trade, the second such gain recently, after the company signed a non-binding memorandum of understanding (MoU) with the Gujarat government.

ONGC will also be a top buzzing stock.

ONGC traded over 1% higher to touch a new 52-week high of Rs 220 a day after it commenced production from its deep water KG-DWN-98/2 block, off the coast of the Bay of Bengal.

Tata Autocomp Systems IPO

The Tata Group has begun talks to list Tata Autocomp Systems (TACO), the group's auto components manufacturing business, with the formal process expected to begin later this year.

The discussions are at an early stage, and talks are currently focused on Tata Group entities that will divest their stakes in the company and the overall quantum of stake will be divested in the IPO.

TACO is owned fully by Tata Group entities with direct holding by Tata Sons, which owns around 21% while the remaining is held by Tata Industries.

TACO was founded in 1995 and operates as the vehicle for the group's ventures in the auto components business.

Notably, in 2011, the Tata Group had planned to raise Rs 750 crore for the company from the capital market and had also received the Securities and Exchange Board of India's approval for the same.

The group later withdrew the IPO, potentially due to unfavourable market conditions, although it did not specify any reason at that time.

TACO is one of the leading players in the auto component industry and is present in product segments such as interior plastics and composites, radiators, exhaust systems, batteries, stampings, and suspensions.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

Why FMCG Stocks are Falling

Shares of fast-moving consumer goods (FMCG) companies Marico and Godrej Consumer Products (GCPL) slipped up to 6% on Monday after the companies announced their provisional operating performance and demand trends during the December 2023 quarter.

Among individual stocks, GCPL was down 6 per cent at Rs 1,149 as the company expects mid-single-digit volume growth on a consolidated basis in Q3.

In the domestic business, its organic business delivered steady underlying volume growth of mid-single digits, and its inorganic business, as Park Avenue and KamaSutra, reported a double-digit volume growth.

The company expects to deliver mid-single-digit volume growth and double-digit constant currency sales growth but low-single-digit sales decline in INR terms due to GAUM and LATAM currency and hyperinflation accounting impact. Reported volume growth is likely at high-single-digit, and reported sales growth to be flattish in INR terms.

However, the company said it continues to drive year-on-year (YoY) expansion in EBITDA margin despite significantly higher category development investments.

Marico further said the consumer sector's demand trends are similar to the last quarter, with urban markets remaining steady and rural showing signs of improvement.

The constraints on liquidity and profitability in the general trade (GT) channel remained an overhang, while alternate channels continued to do well. The management is optimistic about the recovery in CY24, led by continued government spending and price cuts across categories.

ACC Acquires Asian Concretes

ACC on Monday acquired the remaining 55% stake in Asian Concretes and Cements Private for Rs 4.3 billion (bn).

This buyout, funded entirely by internal accruals, brings ACC's ownership of ACCPL to 100%, with the total enterprise value of the acquisition at Rs 7.8 bn, inclusive of Rs 350 m in cash and equivalent.

This acquisition aligns with ACC's growth strategy and commitment to creating value for stakeholders.

This acquisition increases ACC's total cement production capacity to 38.55 MTPA and, when combined with Ambuja, raises the Adani Group's overall cement capacity to 77.40 MTPA. The group aims to expand this capacity to 106 MTPA by FY26 through ongoing and planned capital expenditures.

ACCPL operates a 1.3 MTPA cement plant in Nalagarh, Himachal Pradesh, and its subsidiary, Asian Fine Cements Pvt Limited (AFCPL), runs a 1.5 MTPA cement facility in Rajpura, Punjab.

The Rajpura plant, with its strategic location, is poised to serve a broad customer base in Himachal Pradesh, Haryana, and Punjab.

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.

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