SGX Nifty Up 43 Points | TVS Motor Eyes EV Investments | HAL Inks Pact for Medical Services | Top Buzzing Stocks Today

Thu, 16 Feb Pre-Open

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On Wednesday, Indian share markets staged a smart recovery as the session progressed and ended in green.

Benchmark indices ended higher as index heavyweight stocks witnessed buying in the last hour of trade.

At the closing bell on Wednesday, the BSE Sensex stood higher by 243 points (up 0.4%).

Meanwhile, the NSE Nifty closed up by 86 points (up 0.5%).

Tech Mahindra, Reliance, and Eicher Motors were among the top gainers.

HUL, ITC, and Sun Pharma on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap ended the day higher by 0.7% and the BSE SmallCap index ended 0.4% higher.

Sectoral indices ended on a mixed note with stocks in the auto sector, realty sector, and telecom sector witnessing most of the buying.

On the other hand, stocks from the power sector, and FMCG sector witnessed selling pressure.

Shares of Siemens, Cummins India, and Jindal Saw hit their 52-week high on Wednesday.

To get the latest news and which stocks will move the market, check out the stocks to watch today section on our website.

The rupee was trading at 82.80 against the US$.

At 7:30 AM today, the SGX Nifty was trading up by 43 points or 0.2% higher at 18,060 levels.

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

Speaking of stock markets, Vetri Subramaniam shares his thoughts on how to pick stocks and build a portfolio, in the latest episode of Investor Hour podcast.

In the podcast, he discusses about position sizing in length. And a bit more about how to detect fraud in a company.

Tune in to the below video to find out more:

Top Buzzing Stocks Today

Bharat Forge will be among the top buzzing stocks today.

Shares of Bharat Forge slumped 7% on 15 February 2023 after the company's overseas operations posted an EBITDA (earnings before interest, taxes, depreciation, and amortization) loss.

This was due to ramp up related issues of the new Al forgings capacities in Germany and the US.

Torrent Power will also be in focus today.

The company's consolidated net profit went up 88% year-on-year (YoY) on account of higher income.

Along with strong results, the company's board also delivered and approved an interim dividend of Rs 22 per equity share, including Rs 13 per equity share as a special dividend.

Adani Group touts cash reserves to calm investors

The embattled Adani group sought to reassure investors, saying it has adequate cash reserves and its listed companies can refinance their debts, in a credit report aimed at reassuring investors.

Adani Group's gross debt stood at Rs 2.26 trillion (tn)rupees or US$ 27.3 billion (bn) at the end of the September 2022 quarter.

The figure broadly matches the tally cited by the company's chief financial officer at the end of January.

The group's cash balances increased to Rs 316.5 bn in December from Rs 297.5 bn in September 2022 quarter.

The financial health of Adani's empire is under intense scrutiny after Hindenburg Research accused it of inflating revenues and manipulating stock prices.

Some of the group's bonds dropped to distressed levels, while more than US$125 bn has been wiped from its stock market value since the short seller's investigation went public.

To know whether it is time to buy the dip in the Adani Group stocks, check our editorial: Adani Group stocks: should you catch this falling knives?

HAL inks pact with RPM

Navratna Defence PSU, Hindustan Aeronautics Limited (HAL), has signed a memorandum of understanding (MoU) with Response Plus Holding PJSC (RPM), a leading healthcare provider of emergency medical services.

According to the terms of the agreement, RPM and HAL will explore new opportunities for cooperation in emergency medical services, medical evacuation, helicopter emergency medical services and other mutually-beneficial fields in India, the Gulf region and the MENA Region.

An MoU to this effect was inked on the sidelines of the ongoing Aero India 2023, Asia's largest air show.

RPM is a leading healthcare provider of emergency medical services, remote healthcare services and occupational health solutions in the United Arab Emirates.

HAL is among the top defense stocks in India having monopoly in certain segments.

To know more, check out our detailed editorial - HAL: Ready, Set, Fly.

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

We believe the defence sector could produce the next set of multibagger stocks over the long run.

TVS Motor eyes EV investment

According to a media report, India's TVS Motor Co Ltd is in talks with Abu Dhabi Investment Authority (ADIA), Goldman Sachs Group Inc and Carlyle Group Inc for investment in its electric vehicle (EV) arm.

The US$ 300 m to US$ 350 m investment would make it India's most valuable EV two-wheeler manufacturer.

TVS Motors, which makes the iQube e-scooter, reported its EV sales had nearly doubled in the December 2022 quarter.

The company has also tied up with Amazon's India unit to boost its EV business.

With riding the EV opportunities in the two-wheeler space, it is among the top EV revolution companies in India.

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.

Zydus Lifesciences receives USFDA nod for two generic drugs

Zydus Lifesciences, on Wednesday, received tentative approvals from the US health regulator to market two generic drugs used for lowering blood pressure and controlling diabetes in the American market.

The company has received tentative approval from the US Food and Drug Administration (USFDA) to market Bosentan Tablets for oral suspension in 32 mg strength.

While in a separate filing, the company has also received tentative approval from the USFDA to market canagliflozin tablets of strengths 100 mg and 300 mg.

Bosentan Tablet for oral suspension is indicated for the treatment of pulmonary arterial hypertension (PAH) in pediatric patients aged three years and older.

The drug will be manufactured at the group's formulation manufacturing facility at SEZ, Ahmedabad.

And the canagliflozin tablet is for improving glycemic control in adults with diabetes.

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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