Gift Nifty Trades Flat | Maruti Suzuki Crosses Rs 4 Trillion Mark | Upcoming Tata Group's IPO | Top Buzzing Stocks Today

Thu, 28 Mar Pre-Open

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Indian share markets gained the momentum as the session progressed and ended on firm footing.

Indian equity benchmark indices exhibited a positive trend in Wednesday's intra-day trade backed by strong gains in index heavyweight Reliance Industries and auto stocks.

At the closing bell on Tuesday, the BSE Sensex closed higher by 526 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 143 points (up 0.6%).

Reliance Industries, Bajaj Auto, Titan were among the top gainers.

Wipro, Apollo Hospital and Hero MotoCorp 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 ended flat and BSE SmallCap index ended 0.7% higher.

Sectoral indices are trading mixed, with socks in banking sector, power sector and realty sector witnessing most buying. Meanwhile, stocks in metal sector, IT sector and media sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.3% higher at Rs 66,900 grams at the time of Indian market closing hours on Tuesday.

At 7:35 AM today, the Gift Nifty was trading 11 points lower at 22,170 levels.

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

Speaking of stock markets, in 1947 a group of researchers at Bell Labs, a subsidiary of AT&T, invented the transistor, a switch that controls electric current.

A thriving industry grew up around California, outsourcing low-value tasks, such as chip assembly, to Asia, where labour was cheaper.

Japanese firms such as Toshibaa a and Fujitsu managed to take a share of some chip markets.

Decades later China's tech titans reduced the country's dependence on foreign chips.

Now it is India's turn.

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Top buzzing stocks today

Adani Power share price will be in focus today.

Shares of Adani Power traded more than 4% higher in the early trade on 27 March after the fair trade regulator Competition Commission of India (CCI) approved the company's proposed acquisition of Lanco Amarkantak Power.

Coal India will also be a top buzzing stock.

Shares of Coal India traded in the red intraday after making some early gains on 27 March. The movement in the share price of the coal miner was seen hours after a large containership crashed into the Baltimore bridge, shutting down the second largest exit point for coal shipments from the US for now.

Maruti Suzuki Crosses Rs 4 Trillion Mark

Auto major, Maruti Suzuki India, on 27 March 2024, became India's 19th listed company to cross the Rs 4 trillion (tn) market capitalisation milestone after its shares surged over 23% so far in 2024.

On Wednesday, the yen hit a 34-year low. Despite Japan's exit from negative interest rates, the yen remains the worst-performing major currency this quarter, down over 7% against the dollar. Officials warn against speculative moves, and Finance Minister Shunichi Suzuki stated Japan won't rule out any measures if the yen falls too rapidly.

According to market reports a weaker yen benefits Maruti's EBITDA by cutting costs for imported goods and services. This happens because the company pays fewer yen for the same items. However, these savings typically don't reach consumers.

Apart from Yen weakening, Maruti Suzuki exceeded expectations in Q3FY24 despite concerns over single-digit year-on-year sales growth. A 33% increase in net revenue stemmed from higher realisations, primarily driven by a 60% growth in the premium utility vehicle segment and robust export performance.

However, entry-level car sales remained subdued, dampening overall revenue. Operating leverage from increased UV sales and exports, coupled with lower raw material prices, led to a 2% expansion in EBITDA margin to 11.7%.

This resulted in a 33% year-on-year increase in profit after tax. However, concerns linger regarding future margin sustainability due to rising raw material costs and uncertainties surrounding the FY25 product cycle amidst stiff competition.

NSE to Rejig Nifty Indices

The semi-annual rebalancing of the Nifty indices is scheduled for 28 March, with adjustments taking place on the 27th.

According to Nuvama Alternative and Quantitative Research, after the rejig, Shriram Finance, HDFC Bank, Jio Financial Services, NTPC, Adani Power, and Power Finance Corporation, and some other counters are expected to see total inflows of US$ 652 million (m).

Shriram Finance and HDFC Bank are likely to receive the maximum inflows of up to $188 million and US$ 94 million, while Bharti Airtel and IRFC are likely to receive the least inflows of US$ 26 million and US$ 23 million.

Nifty constituents that are likely to see outflows as part of the rejig include State Bank of India, UPL, ICICI Bank, ONGC, PI Industries, Coal India, Reliance Industries, Kotak Mahindra Bank, Bharat Electronics and Infosys.

As part of the weightage changes on the Nifty 50 Index, Mahindra and Mahindra's weightage will rise to 1.8% from 1.7% and that of Bharti Airtel will rise to 3.3% from 3.2%.

Upcoming Tata Group's IPO

Tata Group is gearing up to unveil several public issues in the next two to three years, after a hiatus marked by just one initial public offering (IPO) in the past two decades. This strategic move by holding company Tata Sons aims to unlock value, fuel future growth and provide exit options for select investors, according to market reports.

Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing and Tata Batteries are among the list of companies being primed to tap the capital markets.

The group has been aggressively looking to scale up in new-age sectors such as digital, retail, semiconductors and electric vehicle batteries, among others.

Many of the businesses seeded over 20 or 25 years ago are now in a growth phase and in shape to be monetised. Also, calculated decisions are being taken by specific companies in discussions with Tata Sons. It will be with the purpose of either offering exit opportunities to existing investors or unlocking value. But there are no deadlines; decisions will be well thought out.

For more details, check out 5 Upcoming IPOs of Tata Group.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

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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