Adani Group Weighs Partnership with Saudi Aramco, Auto Makers Fast-Track EV Adoption, and Top Buzzing Stocks Today

Mon, 21 Mar Pre-Open

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On Thursday, Indian share markets extended gains as the session progressed and ended on a strong note.

Benchmark indices rose in-line with global markets as they cheered progress on ceasefire negotiations between Russia and Ukraine.

That apart, investors also welcomed a 25-bps rate hike by the US Federal Reserve, which was on expected lines.

At the closing bell on Thursday, the BSE Sensex stood higher by 1,047 points (up 1.8%).

Meanwhile, the NSE Nifty surged 312 points (up 1.8%).

HDFC and JSW Steel were among the top gainers.

Infosys and Cipla, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.1% and 1.2%, respectively.

Sectoral indices ended on a positive note with stocks in the realty sector, consumer durables sector and energy sector witnessing most of the buying interest.

IT stocks, on the other hand, witnessed selling pressure.

Shares of Trent and Bharat Dynamics hit their respective 52-week highs.

Speaking of stock markets, Co-head of Research at Equitymaster, Rahul Shah spills the beans on gold as an effective hedge for your equity portfolio, in his latest video.

In the video, Rahul talks whether gold really makes your portfolio crash-proof. Tune in to the below video to find out more:

Top buzzing stocks today

Jindal Poly Films will be among the top buzzing stocks today.

Jindal Poly Films has signed an agreement for the sale of a minority stake in its packaging films business to Brookfield Asset Management.

Brookfield has agreed to make an Rs 20 bn investment in the company.

Happiest Minds Technologies share price will also be in focus today.

Happiest Minds Technologies announced a strategic partnership with OutSystems, a pioneer and leader in the low-code application development market.

Happiest Minds and OutSystems share the vision to transform how enterprise software is delivered to their customers.

This partnership will add a world-class, low-code platform to Happiest Minds' portfolio, enabling companies to develop, deploy, and manage omnichannel enterprise applications that run in the cloud, on-premise, or hybrid environments.

Market participants will also track Titan share price.

Shares of Titan Company rallied 5% last week on Thursday to hit a record high on expectations of strong earnings growth. The stock of the Tata Group Company engaged in jewellery and watch business surpassed its previous high touched on 7 January 2022.

Realty stocks: what next?

Shares of real estate companies will be in focus today. Most stocks rallied last week and the question now remains what next for realty stocks?

Brijesh Bhatia shared an important update on the realty index, on his telegram channel last week.

Here's what he wrote:

• I highlighted the reversal pattern at 390-410 zone, it hit the low of 389 and up by ~15% from the lows.

 

• The fresh breakout from the falling channel at 440 with bullish range shift in RSI indicates the higher levels are under construction.
  
  The previous low of 442 (red line) which is hurdle is swiftly taken out by bulls.
  
  The highest profit margin is when you buy the house during the launch and this is the time to add up your stakes in real estate stocks.

Brijesh had even recorded a video earlier this month, discussing why it's time to buy real estate stocks.

If you're interested in being a part of Brijesh's charting journey as he shares how to create wealth from the profitable trade setup, we highly recommend you join his telegram channel Fast Profits Daily.

You'll get access to the best trading ideas in the stock market.

Adani explores partnership with Saudi Aramco

As per a leading financial daily, the Adani Group is exploring potential partnerships in Saudi Arabia, including the possibility of buying a stake in the world's largest oil exporter Saudi Aramco.

The group, led by Gautam Adani, has held preliminary talks on a range of potential cooperation and joint investment opportunities with Saudi Aramco and the country's Public Investment Fund. It has discussed the idea of buying part of the PIF's stake in Aramco.

While Adani is unlikely to shell out billions of dollars in cash for Aramco stock, at least in the short term, it could seek to link an investment to a broader tie-up or asset swap deal.

The Indian firm could team up with Aramco or subsidiaries like Sabic in areas such as renewable energy, crop nutrients or chemicals, according to sources.

Note that a deal could help Aramco deepen relationships in one of the world's fastest-growing energy consumers. The Saudi petroleum giant spent more than two years negotiating a potential US$15 bn investment in Mukesh Ambani's Reliance Industries, only for talks to be scrapped in November.

Saudi Arabia has been looking to boost ties with India for several years. During a 2019 visit to meet Prime Minister Narendra Modi, Saudi Crown Prince Mohammed Bin Salman said the country could invest US$100 bn into India.

How this pans out remains to be seen.

Auto makers fast track tie-ups with battery swap market

To fasten the adoption of electric vehicles (EVs) and relieve customers from range anxiety, auto makers, energy companies and startups have begun fast-tracking partnerships in the emerging battery-swap market.

Such tie-ups will enable original equipment manufacturers (OEMs) to reduce upfront costs of acquisition by at least 40-50%, leading to increased adoption and sales, according to experts.

Bengaluru-based startup Bounce last week announced a partnership with Greaves Retail, making the latter the first to join the Bounce Infinity battery-swap network.

Some of the other tie-ups recently announced include Hero Electric and Sun Mobility, a leading provider of energy infrastructure, targeting around 10,000 electric battery swappable two-wheelers by the end of this year.

Forex reserves decline

In news from the economic space, India's foreign exchange reserves declined US$ 9.65 bn to US$ 622.28 billion in the week ended 11 March, according to the latest data from the RBI.

In the previous week ended 4 March, the reserves rose US$ 394 m to US$ 631.92 bn. It touched a lifetime high of US$ 642.45 bn in the week ended 3 September 2021.

During the reporting week, the decline in the reserves was due to a fall in the foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data released on Friday showed.

Gold reserves increased US$ 1.5 bn to US$ 43.84 bn in the reporting week, the data showed.

The country's reserve position with the IMF decreased by US$ 7 m to US$ 5.15 bn in the reporting week.

We will keep you updated on the latest developments from this space. Stay tuned.

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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