SGX Nifty Down 44 Points | HDFC AMC Q3 Results | TVS Motor Declares Interim Dividend | Top Buzzing Stocks Today

Wed, 25 Jan Pre-Open

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On Tuesday, Indian share markets pared gains as the session progressed and ended flat.

Benchmark indices witnessed a volatile trade despite strong global sentiments and healthy early Q3 earnings, as index heavyweight stocks witnessed selling.

At the closing bell on Tuesday, the BSE Sensex gained 37 points (up 0.1%).

Meanwhile, the NSE Nifty flat at 18,118 levels.

Tata Motors, Maruti Suzuki, and Baja Auto were among the top gainers.

Axis Bank, Hindalco, and Power Grid corporations, on the other hand, were among the top losers.

Broader markets settled on a negative note. The BSE Midcap dived 0.3% while the BSE SmallCap index fell 0.4%.

Sectoral indices ended on a mixed note with stocks in the energy sector, healthcare sector, and telecom sector witnessing most of the selling.

While stocks in FMCG sector, IT sector, and auto sector witnessed buying.

Shares of PTC India hit their 52-week high on Tuesday.

The rupee was trading at 81.65 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.4% at Rs 57,018 per 10 grams at the time of Indian market closing hours on Tuesday.

At 8:00 AM today, the SGX Nifty was trading down by 44 points or 0.2% lower at 18,090 levels.

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

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Top Buzzing Stocks Today

Chalet Hotels will be among the top buzzing stocks today.

The hotel chain operator clocked a consolidated profit of Rs 1 bn for the December 2022 quarter against a loss of Rs 146 m in the corresponding quarter a year ago.

The growth in numbers was due to a healthy topline as well as operating performance. Higher other income also boosted profitability.

Maruti Suzuki will also be in focus today.

The company yesterday reported a 129.5% jump in consolidated net profit for December 2022 quarter at Rs 23.9 bn.

The profit was Rs 10.4 bn in the same quarter last year. This growth was driven by higher sales volumes and a fall in raw material costs.

TVS Motors declares interim dividend

Beating expectations, TVS Motor Company on Tuesday reported a 22.5% jump in its net profit to Rs 3.5 bn year-on-year (YoY) for the December 2022 quarter. In the corresponding period a year back, the company posted a net profit of Rs 2.8 bn. This rise was on the back.

Over the nine months, TVS Motor's net profit crossed the Rs 10 bn mark for the first time.

The two-wheeler manufacturing company's revenue soared 14.7% YoY to Rs 65.5 bn.

TVS Motor also declared an interim dividend of Rs 5 per equity share, aggregating to Rs 2.4 bn for the financial year 2023.

For the quarter under review, its overall two- and three-wheeler sales, including exports, grew by 15% registering 0.2 m units.

The TVS iQube electric scooter sales came in at 53,599 units in December 2022, against 5,207 units a year back.

The company also announced strategic engagement with Amazon India to strengthen its electric mobility, electric infrastructure and connected services, making it one of the best two-wheeler EV stocks of India.

TVS Motor manufactures a wide range of two-wheelers from mopeds to racing inspired motorcycles. The company also manufactures three-wheelers.

Note that the?electric vehicle (EV) megatrend?is a once in a century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and?India's top EV stocks?are set to benefit from this shift.

EaseMyTrip acquires majority stake in cheQin

The online travel tech platform EaseMyTrip on Tuesday acquired a 55% stake in cheQin.

cheQin is a real-time marketplace which allows travelers to bargain with hoteliers through the primary route.

This acquisition strengthens the travel tech platform's hold in technology, adaptability, personalization, and the acceptance of bulk booking and long stay requests.

Additionally, with this EaseMyTrip will also be able to give its customers a wide range of innovative hotel booking options at the most competitive prices.

EaseMyTrip also announced that it is establishing offline stores via a franchisee model.

EaseMyTrip, listed under the name Easy Trip Planner is a leading travel agency in India.

It is engaged in the business of providing reservation and booking services related to travel and tourism.

However shares of EaseMyTrip saw a sharp fall of 14% in December 2022. To know why, check our editorial- Why EaseMyTrip share price is falling.

HDFC AMC Q3 profit rises 3%

HDFC Asset Management Company reported a 2.7% YoY growth in profit at Rs 3.7 bn for the December 2022 quarter.

Revenue from operations rose 1.8% YoY to Rs 5.6 bn.

The fund house reported a mere 3% growth in its AUM. The biggest drag on its AUM growth was debt funds, where AUM shrank 23% for the fund house.

The share in the December 2022 quarter, on a quarterly average AUM basis, was 26.2%, down from 35.6% in the corresponding quarter the year before.

While debt funds have witnessed large outflows in the past quarters, outflows from HDFC AMC's funds have been larger.

While the debt AUM declined, the equity funds did well, with AUM rising 18% YoY.

An upside for the fund house has been the steady rise in its systematic investment plan (SIP) inflows. SIP rose by 32% YoY to Rs 15.7 bn.

HDFC AMC is an investment manager to HDFC mutual fund. The company has a diversified asset class mix across equity and fixed income/others.

Despite strong fundamentals, a rock-solid balance sheet, and good growth prospects of the India's mutual fund industry, shares of HDFC AMC are caught in broad-based selling.

The US Federal Reserve's decision to tighten monetary policy combined with high inflation and geopolitical tensions have sent FIIs inflows back to their own country. This has led to fall in shares prices for, asset management companies (AMCs).

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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