Gift Nifty Up 60 Points | Hero MotoCorp's February Sales in Fast Lane | Why Oil Price is Rising | Top Buzzing Stocks Today

Mon, 4 Mar Pre-Open

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On Saturday, Indian share markets traded marginally higher throughout the special trading sessions today and ended on a positive note.

Both the benchmark indices Sensex and Nifty hit fresh record highs.

At the closing bell on Saturday, the BSE Sensex closed higher by 71 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 40 points (up 0.2%).

Tata Steel, Tata Motors and JSW Steel were among the top gainers.

NTPC, M&M and Sun Pharma on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index and the BSE SmallCap index rallied 0.7%.

Barring banking stocks, all sectoral indices ended in green with stocks in the metal sector, realty sector and pharma sector witnessing most of the buying.

Gold prices for the latest contract on MCX were trading up by 1.6% at Rs 63,596 per 10 grams at the time of Indian market closing hours on Saturday.

At 7:35 AM today, the Gift Nifty was trading 60 points higher at 22,512 levels.

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

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Top buzzing stocks today

Aurobindo Pharma share price will be in focus today.

Aurobindo Pharma stock soared 4% after the pharma company received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Fingolimod capsules, 0.5 mg, which are bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Gilenya Capsules, of Novartis Pharmaceuticals Corporation.

The product will be launched in March 2024.

Torrent Power will also be a top buzzing stock.

Shares of Torrent Power soared 5% on BSE to Rs 1,172 in Saturday's special trading session after the company won power supply projects worth Rs 31.4 bn. All securities will trade with revised circuit limits of 5% on Saturday.

Hero MotoCorp's February Sales in Fast Lane

The company reported a 19% jump in February sales from the year-ago period.

The country's largest manufacturer of motorcycles and scooters sold 468,410 units during the month, a 19% growth over the 394,460 units in February 2023.

The company said it is scaling up the volumes of Harley-Davidson X440 and Mavrick 440, the first phase of which should be completed by the middle of this year.

The company sold 433,598 units in January 2024.

In February, the company almost doubled its exports to 23,153 from 12,143 units in the same month of the previous year.

The company is revving up in the electric vehicle space with the launch of the Vida V1 model and expects to launch more scooters and motorcycles. Four scooters are expected to be launched in FY25.

The focus remains on expanding the charging ecosystem through its efforts and collaboration with Ather.

To know more, check out Why Hero MotoCorp is Underperforming in the Market.

Hero MotoCorp, one of the top companies in the EV sector could be prime beneficiaries as Nifty heads towards 40,000.

Why Oil Price is Rising

Oil prices rose on Friday and were set for weekly gains as markets awaited an OPEC+ decision on supply agreements for the second quarter while weighing fresh US, European and Chinese economic data.

Brent futures for May were up US$ 2.2, or 2.7%, at US$ 84.15 a barrel. The April Brent futures contract expired on 29 February at US$ 83.6 a barrel.

US West Texas Intermediate (WTI) for April rose US$ 2.4, or 3%, to US$ 80.6 a barrel.

WTI is on track for a 5.4% increase this week while following the switch in contract months, Brent is around 3.1% higher than last week's settlement price.

A decision on extending OPEC+ cuts is expected in the first week of March, sources have said, with individual countries expected to announce their decisions.

Strong expectations of Saudi Arabia keeping term prices of crude it sells to Asian customers little changed in April from March levels also underpinned the market on Friday.

Meanwhile, geopolitical tension in the Red Sea also lifted prices on Friday.

On the demand side, Chinese manufacturing activity shrank for the fifth straight month in February.

JG Chemicals IPO

Zinc oxide manufacturer JG Chemicals Ltd has set the price band at Rs 210-221 a share for its public offer opening for subscription on 5 March.

The anchor bidding will be open on 4 March, and the issue will close on 7th. The basis of allotment will be on 11 March, and shares will be credited to the demat account on the 12th. The shares will be listed on exchanges on 13 March.

The IPO is a mix of fresh shares of Rs 1.7 bn by the company and an offer-for-sale (OFS) of 3.9 m equity shares by promoters.

On the upper band price, the total issue size of the IPO will be Rs 2.5 bn, and the post-issue market capital of the company is estimated at Rs 8.6 bn.

Vision Projects & Finvest, Jayanti Commercial, Suresh Kumar Jhunjhunwala (HUF) and Anirudh Jhunjhunwala (HUF), the part of promoter group, will be selling shareholders in the OFS.

The West Bengal-based company will invest Rs 910.6 m of the net fresh issue proceeds in its material subsidiary BDJ Oxides and spend Rs 350 m for long-term working capital requirements. Further, the balance of fresh issue money will be set aside for general corporate purposes.

JG Chemicals claimed to be India's largest zinc oxide manufacturer in terms of production and revenue for zinc oxide manufacturing through the French process.

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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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

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