Sensex Rallies 533 Points, Nifty Ends Above 18,200; M&M, Bharti Airtel Surge 4%

Wed, 12 Jan Closing

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Indian share markets extended gains as the session progressed and ended on a strong note.

Benchmark indices rallied for the fourth straight session today, tracking firm cues from global peers, led by gains in telecom, auto, metal and energy stocks.

At the closing bell, the BSE Sensex stood higher by 533 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 157 points (up 0.9%).

M&M and Bharti Airtel were among the top gainers today.

Titan company and TCS, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,236, up by 145 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.1% and 0.7%, respectively.

Sectoral indices ended on a positive note with stocks in the telecom sector, power sector and energy sector witnessing most of the buying interest.

Consumer durables stocks, on the other hand, witnessed selling pressure.

Shares of Deepak Fertilisers and Affle India hit their respective 52-week highs today.

Asian stock markets ended on a positive note today.

The Hang Seng and the Shanghai Composite ended up by 2.8% and 0.8%, respectively. The Nikkei ended up by 1.9% in today's session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 42 points.

The rupee is trading at 73.91 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 47,740 per 10 grams.

Speaking of stock markets, Brijesh Bhatia discusses why auto stocks are set to deliver fast profits, in his latest video for Fast Profits Daily.

All the big auto names, after a period of underperformance, are now outperforming the Nifty.

But will this momentum continue? Brijesh certainly think so. Tune in to the below video to find out why.

In news from the finance sector, Bajaj Finance was among the top buzzing stocks today.

Bajaj Finance share price climbed 2.6% today after the financial services company announced its intent to consider a fundraising plan at its meeting on 18 January 2022.

The board of Bajaj Finance will consider raising funds by debt issue/issue of non-convertible debentures as a part of the proposed increase in the overall borrowing limit, the company said in an exchange filing.

In time for the earnings season, the firm will also consider the unaudited financial results for the quarter and nine months ended 31 December 2021 at next week's meeting, it said.

Bajaj Finance stock has remained one of the most favoured ones in recent times.

However, global rating firm CLSA, which recently initiated coverage on Bajaj Finance shares, gave it a negative rating last week saying growth is expected to slow versus historic levels and the growth differential with peers should narrow.

Bajaj Finance stock has given investors a return of almost 55% in the past year against the benchmark index Sensex that rose 23.5%. In the new year itself (year to date) the share price has gone up 8.2% against Sensex's gain of 3.3%.

Bajaj Finance reported a 53.5% year on year (YoY) rise in net profit at Rs 14.8 bn compared to Rs 9.6 bn in the same quarter last year.

The NBFC's gross non-performing assets (NPA) stood at 2.5% at the end of the September quarter compared to 3% at the end of the June quarter.

Bajaj Finance share price ended the day up by 1.4% on the BSE.

In other news from the finance space, Quiklyz, the vehicle leasing and subscription business vertical of Mahindra & Mahindra Financial Services (Mahindra Finance/ MMFSL), today announced that it will offer a wide range of electric vehicles (EVs) for leasing and subscription to potential customers.

Quiklyz is a new-age, digital-born vehicle leasing and subscription platform that offers convenience, flexibility, and choice to customers across Indian cities.

According to a press release, Quiklyz currently has the largest portfolio of EVs on the subscription platform.

The portfolio spans electric 4-wheeler from the leading original equipment manufacturer (OEMs) offering electric vehicles, including Mahindra, Tata Motors, Mercedes-Benz, MG Motors, Audi, and Jaguar as well as electric 3-wheeler load vehicles from Mahindra and Piaggio, for e-commerce fleet operators.

Customers will have the flexibility to upgrade their vehicle in 2-3 years keeping in tune with ever-increasing technology features in newer EV launches going forward.

The EVs on-road price is currently higher than petrol and diesel vehicles, although the running cost is much lower.

The customers intending to purchase EV vehicles through bank loans therefore must pay a very high down payment. However, with Quiklyz, there is no requirement for a down payment, and monthly subscription charges for EV 4W starts from as low as Rs 21,399/per month.

Going forward, the company plans to add more EVs to its portfolio, as it aims to create exciting EV subscription products for its customers. The customers can access various offerings and book their vehicle on Quiklyz.com.

Mahindra & Mahindra Finance share price ended the day up by 5.8% on the BSE.

Speaking of EVs, have a look at the chart below which shows the massive opportunity in the two-wheeler EVs.

Here's what lead Smallcap Analyst at Equitymaster, Richa Agarwal wrote about this in a recent edition of Profit Hunter:

• In the last five years, two-wheeler sales in India were around 2 crore units per year. Now the sector is cyclical and has been in the downturn for some time. So let's consider a moderate 5% growth for the next 10 years.
  
  By 2030, we are looking at 2-wheeler sales of 3 crore units. Even if one third of this is EV sales, that's 1 crore electric 2-wheelers per year.
  
  In the last 2 years, average electric 2-wheeler sales were 1.5 lakh units. From 1.5 lakh to 1 crore, that's a 66x opportunity in 2-wheeler EVs.
  
  This is an annual growth rate of 52% over next 10 years. It's an almost vertical growth opportunity.

As per Richa, this is like a gold rush. But like in any gold rush, the winners will just be a few.

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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