Sensex Today Zooms 650 Points | All Adani Group Stocks Rally, Adani Enterprises Up 12% | Infosys & Tata Motors Top Gainers

Mon, 6 Mar 10:30 am

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Asian share markets are higher today as investors weighed the diminishing prospect of any significant stimulus from China against positive signs from the US.

The Nikkei is up 1.2% while the Hang Seng is trading flat. The Shanghai Composite is trading lower by 0.2%.

Wall Street indices rallied on Friday to end a volatile week, as US Treasury yields eased and economic data helped investors look past the growing likelihood that the Federal Reserve will have to keep its restrictive policy in place until late in the year.

The Dow Jones Industrial Average ended 1.2% higher while the tech heavy Nasdaq Composite rose 2%.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	94.02	1.71	1.85%	94.11	92.66	144.16	83.45
Apple	151.03	5.12	3.51%	151.11	147.33	179.61	124.17
Meta	185.25	10.72	6.14%	186.62	177.05	236.86	88.09
Tesla	197.79	6.89	3.61%	200.48	192.88	384.29	101.81
Netflix	315.18	3.3	1.06%	317.49	310.82	396.5	162.71
Amazon	94.9	2.77	3.01%	94.94	92.66	170.83	81.43
Microsoft	255.29	4.18	1.66%	255.62	251.39	315.95	213.43
Dow Jones	33,390.97	387.4	1.17%	33,405.82	33,008.41	35,492.22	28,660.94
Nasdaq	12,290.81	245.94	2.04%	12,300.46	12,095.24	15,265.42	10,440.64

Source: Equitymaster

Back home, Indian share markets are trading on a positive note following the SGX Nifty trend and tracking positive global sentiment.

At present, the BSE Sensex is trading higher by 649 points. Meanwhile, the NSE Nifty is trading up by 149 points.

Bajaj Finserv and Power Grid are among the top gainers today.

Tata Steel on the other hand is among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher by 1.1% and the BSE Small Cap index is trading higher by 1.2%.

Sectoral indices are trading on a positive note with stocks in the utilities sector, finance sector and power sector witnessing heavy buying.

Shares of KEI Industries and Procter and Gamble Health hit their 52 week high today.

The rupee is trading at Rs 81.82 against the US dollar.

In the commodity markets, gold prices are trading higher by Rs 211 at Rs 55,932 per 10 grams.

Meanwhile, silver prices are trading higher by 0.7% at Rs 64,847 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, while growth is important for a company's survival in the long term, it should not be the end all for investors while picking stocks.

A lot of times, investors get blindsided by high growth companies, even though they are barely profitable or in some cases, burning massive piles of cash. So, does that mean an investor must choose between growth and profit?

Not necessarily. Investors can use financial ratios such as ROCE to gauge how efficiently the company is using its capital to generate returns for its shareholders.

For this video, we have done the ground work and identified 10 fast growing companies with high ROCE.

Adani group debt repayment timeline

Embattled Adani group has approximately US$ 2 billion (bn) (about Rs 163.6 bn) in foreign-currency bonds which are set for repayment in 2024. There are no bond maturities in 2023, however, three Adani companies' bond issuance is due the next year.

Currently, Gautam Adani's ports-to-energy empire is under the market radar for a host of allegations after the Hindenburg report.

According to a PTI report, which cited the presentation the conglomerate made to investors, there are no maturities in 2023 but three issuances - US $ 650 m (about Rs 53,176.5 m) by Adani Ports and two of renewable energy unit Adani Green Energy are due for payment in 2024.

As per the presentation which was released by Adani Enterprises during its Q3 result announcement on 14 February, Adani Ports is the only infrastructure company to issue a 20 and 10-year dual-tranche bond worth US $ 750 m (about Rs 613,55.3 m).

Also, it needs to be noted that there are no foreign currency bond maturities in 2025, but around US$1 bn (about Rs 81.8 bn) of repayments are scheduled to be due in 2026.

Bajaj Electricals bags new order

Bajaj Electricals on Saturday said its EPC division has bagged a contract worth Rs about Rs 5,648.7 m (about Rs 564.87 crore) from South Bihar Power Distribution Company (SBPDCL).

The contract is for supply of goods and services by SBPDCL, a domestic entity, under the Revamped Distribution Sector Scheme (RDSS).

The work includes the supply of plant and installation services for the development of distribution infrastructure of electric supply circle Sasaram and Munger of Bihar.

The projects, shall be completed within 30 months from the date of issue of contracts.

Bajaj Electricals is a part of the country's leading business house Bajaj group. It had a turnover of Rs 48,130 (about Rs 4,813 crore) in financial year 2022.

Orchid Pharma and Orchid Bio Pharma signs MoU

Orchid Pharma and its wholly owned subsidiary, Orchid Bio Pharma have entered into a memorandum of understanding (MoU) with an overseas technology provider for in-licensing 7ACA technology.

Orchid Bio Pharma has been granted approval by competent authority under the production linked incentive (PLI) scheme for manufacturing of product 7 ACA.

Zydus Lifesciences receives USFDA approval

Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) for Vigabatrin for Oral Solution USP, 500 mg.

Vigabatrin for oral solution is indicated for the treatment of refractory complex partial seizures as adjunctive therapy in patients 2 years of age and older.

It is also used to treat infantile spasms in babies and children between the ages of 1 month and 2 years. The drug will be manufactured at the group's formulation manufacturing facility at Moraiya, Ahmedabad (India).

Vigabatrin for Oral Solution USP, 500 mg had annual sales of US $ 233.7 m (about Rs 19,121.5 m) in the US.

The group now has 349 approvals since the commencement of the filing process in the financial year 2003-04.

Speaking of USFDA, Cipla share price is under pressure following observations received from USFDA after inspection of its Pithampur facility.

To know more, read our editorial on why Cipla share price is falling.

And to know what's moving the Indian stock markets, 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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