Gift Nifty Up 120 Points | Tata Group Crosses Rs 30 Trillion Mark | Alembic Pharma's Upcoming Product Launches | Top Buzzing Stocks Today

Wed, 7 Feb Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Tuesday, Indian share markets continued the momentum as the session progressed and ended the day higher.

Benchmark indices settled higher as stocks in Hong Kong and China climbed on policy stimulus hopes.

At the closing bell on Tuesday, the BSE Sensex closed higher by 455 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 158 points (up 0.7%).

BPCL, TCS and Maruti Suzuki were among the top gainers.

ITC, Britannia and IndusInd Bank on the other hand on the other hand, were among the top losers.

Broader markets are trading on positive note. The BSE Mid Cap and the BSE Small Cap index is trading 1% higher.

Sectoral indices are trading mixed, with socks in media sector, metal sector and auto sector witnessing most buying. Meanwhile, stocks in power sector and banking sector witnessed selling pressure.

The rupee was trading at 83.06 against the US$.

Gold prices for the latest contract on MCX were trading flat at Rs 62,294 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:30 AM today, the Gift Nifty was trading 120 points higher at 22,124 levels.

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

Speaking of stock markets, smallcaps were not the only outperformers of 2023.

Stocks from the defence, railways and electric vehicle sectors also found their place under the sun.

Stocks of the largest public sector entities in defence and railway sectors fetched handsome gains every time the government ordered more spending.

But there were also plenty of private sector entities in defence ecosystem that commanded premium valuations.

The EV sector became a stock market favourite in 2023.

Am sure you wonder, what after these big-ticket gains?

Will the stars of 2023 continue to shine in 2024? Or should you consider a different set of potential wealth creators?

Research Analyst, Tanushree Banerjee answers this in below video.

Top buzzing stocks today

Yes Bank share price will be in focus today.

The Reserve Bank of India has allowed HDFC Bank Group to acquire up to 9.5% stakes in Yes Bank.

The approval for acquiring the stakes is intended for investments by HDFC Asset Management Company (AMC), HDFC Ergo and HDFC Life Insurance.

Zydus Lifesciences will also be a top buzzing stock.

Zydus Lifesciences rose 4.88% to Rs 798 after the company said its board would consider a share buyback on Friday, 9 February 2024.

The board of Zydus Lifesciences is scheduled to meet on Friday, 9 February 2024. to consider buyback.

Tata Group Crosses Rs 30 Trillion Mark

Tata Group's combined market capitalisation crossed Rs 30 trillion (tn) on 6 February, making it the first Indian business house ever to hit the milestone.

The surge in shareholder wealth has been driven by buying interest seen in Tata Consultancy Services, Tata Motors Tata Power and Indian Hotels shares this year.

Tata Consultancy Services surged over 9%, so far in 2024, while Tata Motors Ltd advanced over 20%. Tata Power jumped 18%, while Indian Hotels gained 16%. The Tata Group has 24 companies listed on exchanges.

Meanwhile, Tejas Network, Tata Elxsi and Tata Chemicals dropped over 10% so far this year while the remaining stocks gained in the range of 1-5%.

TCS stock reached a new high on 5 February 2024, surging over 4% to a market cap of Rs 15 tn. The boost is attributed to encouraging deal wins in Q3FY24, with a total contract value of US$ 8.1 bn, up 3.8% from the previous year. Management expresses confidence in long-term growth, anticipating client investments to increase post-challenging macro conditions.

TCS recently announced a 15-year partnership expansion with Aviva, a UK insurance leader, aiming to transform the UK Life business.

Though the deal size is undisclosed, sources suggest it's a mega deal, typically exceeding US$ 500 million (m). This follows a seasonally weak quarter for TCS with no large reported deals.

Tata Motors stock witnessed a surge in the past month driven by strong earnings with contributing factors like the easing impact of semiconductor chip shortage, lower raw material prices and robust demand.

Tata Power has shown growth in 2024, aligning with the trend in the power and energy sector. The anticipation of additional momentum stems from the government's increased emphasis on expanding renewable energy use in the Interim Budget 2024.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

Alembic Pharma's Upcoming Product Launches

Alembic Pharma is poised for a series of product launches in the upcoming quarters, with plans for at least 4-5 releases in the fourth quarter of FY 24 and 10-15 launches in FY 25, according to media reports.

The approvals and inspections at various facilities were in limbo till a few quarters ago due to COVID. Product approvals are now coming thick and fast. Despite the multiple product launches, Alembic Pharma does not foresee additional capital expenditure for these initiatives, and annual research and development (R&D) expenses are expected to remain around Rs 5 bn, according to the company's management.

In a strategic move, the management aims to focus on promoting new-generation products with growth potential over legacy products.

During an analyst call, the management disclosed its ongoing efforts in the development of GLP-1 products, leveraging the company's peptide capability.

GLP-1 receptor agonist drugs, primarily used in treating type 2 diabetes, have gained popularity for their weight-loss properties.

The Vadodra-based pharma manufacturer had 11 new launches in the third quarter in the US generics market and received US Food & Drug Administration (USFDA) approvals on eight of its Abbreviated New Drug Application (ANDA) in the third quarter of FY24.

The US ex-generics market saw a 32% growth in the quarter.

Alembic Pharma operates in diverse therapeutic segments, with the anti-infective segment contributing significantly to domestic revenue, while the USA remains a major revenue source in the export market.

For more, check out Equitymaster's stock screener for screening India's top pharma stocks

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers