Sensex Today Trades Flat Amid High Volatility | Adani Group Stocks Surge | Bajaj Finance Gains 5%

Mon, 30 Jan 10:30 am

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Asian share markets started cautiously today as investors await interest rate decisions in Europe and the US, along with US jobs data and wage data.

The Nikkei is trading flat while the Hang Seng is trading lower by 1.6%. The Shanghai Composite is up 0.7%.

The S&P 500 rose 0.3% on Friday and was near its highest level since last summer.

The Dow Jones ended higher by 0.1% while the tech heavy Nasdaq Composite ended higher by 0.9%.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	100.71	1.55	1.56%	101.58	98.97	152.1	83.45
Apple	145.93	1.97	1.37%	147.23	143.08	179.61	124.17
Meta	151.74	4.44	3.01%	153.19	147.39	328	88.09
Tesla	177.9	17.63	11.00%	180.68	161.17	384.29	101.81
Netflix	360.77	-4.1	-1.12%	365.92	360.59	458.48	162.71
Amazon	102.24	3.02	3.04%	103.49	99.53	170.83	81.43
Microsoft	248.16	0.16	0.06%	249.83	246.83	315.95	213.43
Dow Jones	33,978.10	28.7	0.08%	34,164.33	33,830.90	35,824.28	28,660.94
Nasdaq	11,621.70	109.3	0.95%	11,619.89	11,470.27	15,265.42	10,440.64

Source: Equitymaster

Back home, Indian share markets are trading on a volatile note, tracking the movement in Adani group stocks today.

At present, the BSE Sensex is trading higher by 99 points. Meanwhile, the NSE Nifty is trading higher by 30 points.

Adani Enterprises and Adani Ports are among the top gainers today.

Power Grid Corporation and HUL are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is trading higher by 0.3% and the BSE Small Cap index is up 0.6%.

Sectoral indices are trading on a mixed note. Stocks in power sector, oil & gas sector and FMCG sector witness selling.

While stocks in telecom sector and IT sector witness buying.

Shares of Supreme Industries, and Carborundum Universal hit their 52 week high today.

The rupee is trading at Rs 81.67 against the US dollar.

In the commodity markets, gold prices trade higher by 0.1% at Rs 57,325 per 10 grams.

Meanwhile, silver prices are trading higher by 0.4% at Rs 68,598 per 1 kg.

Speaking of stock markets, research analyst Aditya Vora talks about a smarter way to ride the rally in steel sector, in his latest video.

He focuses on industry tailwinds which makes this proxy sector a better play than the underlying steel sector.

Tune in to the below video to find out more.

Bharat Electronics Q3 results

Bharat Electronics reported a 2.6% rise in standalone net profit to Rs 5.9 bn in Q3 against Rs 5.8 bn a year back.

Revenue for the quarter rose by 10.6% YoY to Rs 40.5 bn on the back of big order wins.

The order book position on 1 January 2023 stood at Rs 501.2 bn.

Further, the company's board recommended an interim dividend of Rs 0.60 per share on the enhanced share capital of the company post bonus issue of equity shares in September 2022.

The said dividend will be payable to all the eligible shareholders holding shares as on the record date, 10 February 2023.

State-run BEL is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures electronic products and systems for the Army, Navy and the Air Force.

The Government of India held 51.14% stake in the company on 31 December 2022.

Bharat Electronics is a fundamentally strong company with good return ratios, zero-debt and strong debt coverage metrics.

It is also among the top defense stocks in India with big growth stories.

Speaking of the defense sector, note that the government's Atmanirbhar Bharat Abhiyan has emphasized the need of self-reliance in security space.

Given the increasing focus on self-reliance, the Ministry of Defense (MoD), has set a target of doubling the defense production to US$ 25 bn by 2025. To boost this the Indian government is likely to spend a massive US$130 bn over the next 7-8 years on the modernization of the armed forces.

The increase in budgetary allocation, along with other factors, will ensure that India's top defense stocks remain in the limelight for the foreseeable future.

That is why we believe that the defence sector could produce the next set of multibagger stocks over the long run.

NTPC declares interim dividend

State-owned power giant NTPC on Saturday reported a nearly 5% YoY rise in its consolidated net profit to Rs 48.5 bn for the December 2022 quarter, mainly due to higher revenue.

Its total income rose to Rs 449.9 bn from Rs 337.8 bn a year ago.

The board of directors also decided to pay an interim dividend at the rate of 42.5% (Rs 4.25 per share) on the face value of paid-up equity shares of Rs 10 each for the financial year 2022-23.

The average power tariff of the company during April-December 2022 stood at Rs 4.9 per unit compared to Rs 3.9 per unit a year ago.

The plant load factor (PLF or capacity utilisation) of coal-based thermal power plants climbed to 68.8% in the third quarter from 67.7%.

The imported coal supply rose to 1.57 MMT in the quarter from 0.52 MMT in the same period a year ago.

The domestic coal supply dipped to 52.4 MMT from 54.9 MMT. The coal production from captive mines stood at 5.4 MMT in the quarter against 4 MMT in the year-ago period.

The company is planning to  produce green hydrogen on a commercial scale, making it in 5 Indian companies that are leading green hydrogen revolution.

The company plans to do that from its upcoming 4,750 MW renewable energy park at the Rann of Kutch. The capacity of the plant will be 5 MW (megawatts).

Adani Enterprises FPO

Adani Enterprises' follow-on public offering (FPO), the largest ever in the history of Indian capital markets, received bids for 0.47 m shares or 1% of the issue size of 45.5 m shares on 27 January 2023, the first day of bidding.

Retail investors, employees, high net-worth individuals (HNIs) and qualified institutional buyers (QIBs) have started putting in bids for the offer.

However, the anchor book of nearly Rs 60 bn, a part of QIB book, was fully subscribed on 25 January 2023. Accordingly, the issue size was reduced to 45.5 m shares from 64.7 million shares initially.

Retail investors have bought 2% and employees 4% of their allotted quota, while HNIs (non-institutional investors) have bid for 60,456 shares against the reserved portion of 9.6 m shares, and QIBs have bought 2,656 shares of the 12.8 m shares set aside for them.

The offer will close on 31 January 2023.

Adani Enterprises shares fell 20% below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating on Friday.

It was due to Hindenburg Research alleged that the group was engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.

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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