Gift Nifty Down 52 Points | Tata Motors & Indigo Q3 Results | Aadhar Housing Finance Files for IPO | Top Buzzing Stocks Today

Mon, 5 Feb Pre-Open

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On Friday, Indian share markets gave up some of the gains as the session progressed and ended the day higher.

The bulls were back in action a day after the Interim Budget, with strong gains seen in IT, financials and index heavyweight Reliance Industries. Strength in overseas peers also aided the sentiment.

At the closing bell on Friday, the BSE Sensex closed higher by 436 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 156 points (up 0.7%).

BPCL, ONGC and NTPC were among the top gainers.

Eicher Motors, Axis Bank and HUL on the other hand on the other hand, were among the top losers.

Broader markets are trading on higher. The BSE Mid Cap is trading 0.7% higher and the BSE Small Cap index is trading 0.5% higher.

Sectoral indices are trading mixed, with socks in oil & gas sector, metal sector and energy sector witnessing most buying. Meanwhile, stocks in FMCG sector, telecom sector and banking sector witnessed selling pressure.

The rupee was trading at 82.9 against the US$.

Gold prices for the latest contract on MCX were trading marginally lower at Rs 62,910 per 10 grams at the time of Indian market closing hours on Friday.

At 7:55 AM today, the Gift Nifty was trading 52 points lower r at 21,915 levels.

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

Speaking of stock markets, the general elections in India have always played a big role in deciding sentiment in the market.

This may be for right or wrong reasons but the fact can't be denied. Most people who have put their hard-earned money in stocks either as investment or speculation, will be interested in knowing how the elections will impact the market.

Which stocks or sectors will rise in anticipation of the results? Which ones will be on the back foot?

Tue in to the below video to know the stocks likely to benefit from the 2024 general elections.

Top buzzing stocks today

TVS Motors share price will be in focus today.

TVS Motor Company traded 2.4% higher in the afternoon on 2 February after the leading two-wheel manufacturer reported a 23% on-year increase in vehicle sales in January.

The company sold a total of 339,513 vehicles in the first month of 2024, up from 275,115 units in the same period last year.

KPI Green Energy will also be a top buzzing stock.

KPI Green Energy share price rallied 3% after the budget as the market expected a push towards green energy in the full budget.

Tata Motors Q3 Results

Tata Motors on 2 February reported a two-fold jump in its consolidated net profit at Rs 70.3 bn for the October-December quarter from Rs 29.6 bn a year ago, helped by robust demand for passenger and commercial vehicles in India, sustained growth in Jaguar Land Rover models, easing raw material costs, price hikes and a superior product mix.

Revenue surged 24.9% on-year to Rs 1105.8 bn, against Rs 884.9 bn in the same period last year.

The Tata Group company's earnings before interest, taxes, depreciation and amortization (EBITDA) jumped by a sharp 42.5% YoY to Rs 15,333 crore, and the operating margin expanded by 1.7% to 13.9%.

The company's revenue from Jaguar Land Rover (JLR business) climbed to Rs 766.7 bn in the last quarter against Rs 588.6 bn in the December 2022 quarter.

Tata Motors' total vehicle sales across segments in the domestic and international market for Q3 FY2023-24 stood at 234,981 vehicles, higher than 228,169 units during Q3 FY 2022-23.

In Q3FY24, Tata Motors recorded wholesales of 138,455 units of Passenger Vehicles (up 5% vs Q3FY23) and 96,526 units of commercial vehicles (up 1 per cent vs Q3FY23). Sales of its British subsidiary, Jaguar Land Rover-excluding the China joint venture-rose 27% to 1.01 lakh units.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

The shares of the company are making back-to-back record highs. To know why, check out Why Tata Motors' share price is rising.

Indigo Q3 Profit Soars

InterGlobe Aviation Ltd, the parent company of India's largest budget airline IndiGo, on 2 February posted a 111% jump in net profit in the December quarter, helped by continued demand for air travel and a fuel surcharge introduced in October.

Net profit came in at Rs 29.9 bn against Rs 14.2 bn in the year-ago.

Revenue surged 30% to Rs 194.5 bn.

IndiGo's total income jumped to Rs 200.6 bn from Rs 154.1 bn in the year-ago period.

The airline carried 243.10 lakh passengers, commanding a market share of 62.1% during the quarter. In the year-ago period, IndiGo carried 199.70 lakh passengers, commanding a market share of 55.7%.

For the quarter, the company said its passenger ticket revenues stood at Rs 171.6 bn increased by 30.3% YoY and ancillary revenues at Rs 17.6 bn, rose 23.8% compared to the same period last year.

The load factor for the no-frills airline stood at 85.8% at the end of the December quarter as against 85.1% in the year-ago period.

If you're considering investing in airline stocks, make sure you do your due diligence. It's a risky sector. If you get either the stock or your timing wrong, you could face serious losses. For more, check out the top airline companies in India.

Aadhar Housing Finance Files for IPO

Leading affordable housing finance company Aadhar Housing Finance has filed its draft papers with market regulator Sebi to raise around Rs 50 bn through an IPO.

The issue comprises a fresh equity issue of Rs 10 bn and an offer for sale (OFS) of Rs 40 bn. Under the OFS, promoter BCP Topco VII Pte will offload its stake.

BCP Topco, which is the promoter, and an affiliate of funds managed by Blackstone, currently holds 98.7% of the pre-offer issued, subscribed, paid-up equity share capital.

The company benefits from the resources, relationships, and expertise of Blackstone, one of the world's leading investment firms.

The company proposes to utilise the net proceeds towards the following to meet future capital requirements towards onward lending and general corporate purposes.

The company is a housing finance company focused on the low-income housing segment, with a ticket size of less than Rs 15 lakh. It had the highest AUM and net worth among analyzed peers in the six months that ended September 2023.

For more information on IPOs, check out the list of upcoming IPOs.

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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