SGX Nifty Up 30 Points | Infosys Q3 Results | Tata Group's Next Big Leap in EV Battery Manufacturing | Top Buzzing Stocks Today

Fri, 13 Jan Pre-Open

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On Thursday, Indian share market ended marginally lower.

Indian benchmark indices continued to remain under pressure on Thursday, but cut back on some of the losses towards the end.

At the closing bell on Thursday, the BSE Sensex stood lower 147 points (down 0.2%).

Meanwhile, the NSE Nifty lowered by 38 points (down 0.2%).

SBI Life Insurance, L&T, HCL Tech were among the top gainers.

Divis Laboratories, Reliance, and BPCL, on the other hand, were among the top losers.

Broader markets settled on negative note. The BSE Midcap inched 0.2% lower while the BSE SmallCap index ended flat.

Sectoral indices ended on a mixed note with stocks in the auto sector, power sector and IT sector witnessing heavy buying.

While stocks in the energy sector, telecom sector, and banking sector witnessed selling.

Shares of PNB Housing Finance, Mahindra CIE Auto hit their 52-week high on Thursday.

The rupee was trading at 81.7 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.2% at Rs 55,826 per 10 grams at the time of Indian market closing hours on Thursday.

At 8:30 AM today, the SGX Nifty was trading up by 30 points or 0.2% higher at 17,950 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

Speaking of gold and silver, they are back in the news. The recent price gains have brought them back in to the limelight.

After a subdued phase, are these two commodities all set for a big rally?

In the below video, Chartist Brijesh Bhatia answers the question with the help of some charts.

Top Buzzing Stocks Today

EKI Energy will be among the top buzzing stocks today.

The company on Thursday announced a collaboration with a Norway-based firm Det Norske Veritas to aid climate transition.

The collaboration is to foster a climate transition ecosystem with innovation and digitalization by numerous measures.

Paytm will also be in focus today.

Paytm plunged over 6% on Thursday. This fall came on the backdrop of a large block deal in the afternoon session.

Alibaba, which held a 6.26% stake in Paytm as of the September 2022 quarter, sold a 3.1% stake in Indian digital payments firm Paytm through a block deal.

Infosys Q3 profit surges 13.4%

Infosys, India's second-largest information technology company, reported a 13.4% year-on-year (YoY) rise in net profit at Rs 65.9 bn for the December quarter 2022 on Thursday. It reported a net profit of Rs 58.1 bn in the same quarter last year.

Its consolidated revenue from operations increased 20.2% to Rs 383.2 bn against Rs 318.7 bn in the corresponding quarter last year.

In constant currency terms, revenue grew by 13.7% YoY.

Digital revenue comprised 62.9% of overall revenues and grew at 21.7% in constant currency.

Year-on-year growth was in double digits for most business segments and geographical regions in constant currency terms.

The total contract value for the quarter was the strongest in the last eight quarters at US$3.3 bn. The operating margin slipped to 21.5% from 23.5% a year ago.

Its attrition rate came down to 24.3% from 27.1% in the September 2022 quarter.

The company, through its ongoing buyback program of Rs 93 bn via the open market route, has repurchased 31.3 m shares worth Rs 47.9 bn or 51.5% at an average price of approximately Rs 1,531 per share.

Tata Group to set up EV battery manufacturing unit in Europe

Tata Group is planning to establish electric vehicle cell manufacturing in Europe.

The Indian conglomerate plans to establish a facility in Europe with its subsidiary Jaguar Land Rover, from which it will sell battery packs globally and use them to accelerate the British automaker's transition to cleaner engines.

The facility will produce lithium iron phosphate cells for Tata Motors' EVs as well as nickel manganese cobalt cells for both Tata Motors and Jaguar Land Rover.

The plan would help the company to control critical parts of the supply chain, which has faced disruptions globally during the Covid pandemic.

The company is finalising the plan and will announce the details of the same soon.

India's December gold imports plunge 79%

India's gold imports in December plunged 79% from a year earlier to the lowest level in at least two decades for the month, as a rally in local prices near record high dampened demand.

Lower imports by the world's second-biggest consumer of the precious metal could limit gains in global prices trading near their highest in eight months.

India imported 20 tons in December, down from 95 tons a year ago. In value terms, December imports plunged to US$ 1.18 bn from US$4.73 bn a year ago.

Retail buying faltered in December as prices started rallying on the weak rupee, tracking a rise in global prices.

Retail buying faltered in December as prices started rallying on the weak rupee, tracking a rise in global prices.

Bitcoin advances above US$ 18,000

Bitcoin price on Thursday gained to trade above US$18,000 as the world's largest and most popular digital token was trading with gains of more than 4% at US$18,224.

Bitcoin has advanced for nine straight days, the longest such streak since 2020.

Bitcoin has added more than 10% this month, and the second-largest token, Ether about 17%.

On the other hand, Ether, the coin linked to the Ethereum blockchain and the second largest cryptocurrency, also gained about 5% to US$1,401.

Other crypto prices' performance also improved as Tether, Stellar, XRP, and Polkadot were trading with gains.

Since cryptos interest you, check out the best cryptos to invest in.

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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