Gift Nifty Up 50 Points | Dixon Technologies Partners Compal Smart | Upcoming Tata Group IPO | Top Buzzing Stocks Today

Tue, 27 Feb Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Monday, Indian share reversed the trend as the session progressed and ended lower.

Benchmark indices stayed lower on Monday amid broad-based profit booking.

At the closing bell on Monday, the BSE Sensex closed lower by 353 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 91 points (down 0.4%).

L&T, HUL and SBI were among the top gainers.

Asian Paints, Apollo Hospitals and Hindalco on the other hand, were among the top losers.

Broader markets ended the day lower. The BSE Mid Cap ended 0.4% down and the BSE Small Cap index ended flat.

Sectoral indices are trading mixed, with socks power sector, oil & gas sector and capital goods sector witnessing most buying. Meanwhile, stocks in media sector, healthcare and metal sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.2% lower at Rs 62,240 per 10 grams at the time of Indian market closing hours on Monday.

At 7:35 AM today, the Gift Nifty was trading 50 points higher at 22,142 levels.

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

Speaking of stock markets, in the latest video, Hidden Treasure, Richa Agarwal shares her views on the road ahead for smallcaps, a prudent strategy to navigate it and alerts on six smallcaps that have witnessed insider buying interest.

These are the smallcaps with decent financial performance and where the current price is almost at par or at a discount from the average price at which insiders have purchased.

Tune in to below video for details.

Top buzzing stocks today

Skipper share price will be in focus today.

Skipper shares surged 13% and hit an all-time high in early trade on 26 February after it signed a Rs 7.4 bn contract with Power Grid Corporation of India.

The power transmission & distribution structures manufacturer bagged the order for the design, supply and construction of the 765 kV transmission line project.

RITES will also be a top buzzing stock.

RITES shares rallied 5% in trade on 26 February after IIT Bhubaneswar appointed the company as the project management consultant for the development of a permanent campus in Odisha.

Dixon Technologies Partners Compal Smart

Dixon Technologies (India) shares that on 26 February, a contract with Compal Smart was signed for mobile phone manufacturing.

Padget Electronics, a wholly-owned subsidiary of Dixon Tech, entered into a contract manufacturing agreement with Compal Smart Device India for the manufacturing of mobile phones.

Additionally, Dixon Tech announced the launch of a new factory in Dehradun, Uttarakhand, on 23 February 2024 for the manufacturing of washing machines.

The Dehradun manufacturing unit is expected to generate employment opportunities for more than 1000 people and boasts an annual production capacity of 24 lakh washing machines.

Dixon Technologies (India) Limited is a design-focused solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India.

Over the past six months, shares of the company have risen around 40% compared to a 14% rise in the frontline index, Nifty 50, during the same period.

Vedanta Clears Bond Interest payment

Vedanta Group's US$ 894 m bond interest payment due on 9 February 2024, was processed with a delay of seven days.

The delay happened due to a 'discrepancy' in information. However, the payment was made following an investigation and clarification.

Struggling with a significant debt accumulated from multiple acquisitions, the group led by Indian billionaire Anil Agarwal managed to strike a deal with creditors in January. This agreement allowed them to extend the repayment deadlines for three-dollar bonds.

As per the agreement, Vedanta paid investors US$ 57 million (m) initially for the bond due in August 2024. Additionally, they extended the repayment period for the remaining principal of US$ 894 m.

Vedanta Resources had received strong approval from bondholders for the restructuring proposal of four series of bonds. The consensus ranged from 97% to nearly 100% across the four series.

As of the end of December, the big natural resources company owed Rs 752.3 bn, which is over US$ 9 bn. After subtracting what it owes from what it's owed the net debt is Rs 624.9 bn, which is almost US$ 8 bn.

Vedanta seeks to cut debt by up to US$ 2 bn in the next fiscal as it focuses on generating free cash flow by managing costs and enhancing volumes.

Upcoming Tata Group IPO

Riding the wave of India's burgeoning electric vehicle (EV) market, Tata Passenger Electric Mobility, a subsidiary of Tata Motors and the brain behind popular models like Nexon EV and Tiago EV, is revving up for a potential initial public offering (IPO) in the next 12-18 months.

This public debut, aiming to raise $1-2 billion, signifies the Tata Group's strategic push towards monetising its investments in the fast-growing EV space.

While a definitive timeline for the IPO hasn't been set in stone, the group is reportedly eyeing FY25 or FY26 as a potential window, contingent on favourable market conditions for electric vehicles and positive overall stock market sentiment. Notably, Tata Motors has already committed to investing US$ 1 bn in TPEML through internal resources, and this plan is progressing as per schedule.

The news comes on the heels of TPEML successfully securing $1 billion in funding from TPG in January 2023 as part of its ambitious $2 billion investment plan for the EV segment by 2026.

While the IPO could further bolster its fundraising capabilities, sources close to the development suggest that the primary driver lies in the Tata Group's broader strategy of unlocking value from its EV investments.

After the IPO of Tata Technologies, these five new Tata Group companies are set to list on the exchange soon.

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