Gift Nifty Up 65 Points | Hyundai & Kia Partners Exide Energy Solutions | MakeMyTrip Expands Global Reach | Top Buzzing Stocks Today

Tue, 9 Apr Pre-Open

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

Equity benchmark indices were holding their gains in Monday's intraday trade aided by strong global cues and buying in index heavyweights.

At the closing bell on Monday, the BSE Sensex closed higher by 494 points.

Meanwhile, the NSE Nifty closed higher 147 points (up 0.7%).

M&M, Maruti Suzuki and Eicher Motors were among the top gainers.

Adani Ports, Nestle and Wipro 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 0.3% higher and BSE SmallCap index ended flat.

Sectoral indices are trading on positive note, with socks in auto sector, oil & gas sector and realty sector witnessing most buying.

Gold prices for the latest contract on MCX were trading 0.4% higher at Rs 70,925 per 10 grams at the time of Indian market closing hours on Monday.

At 7:30 AM today, the Gift Nifty was trading 65 points higher at 22,841 levels.

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

Speaking of stock markets, green hydrogen is the infinitely sustainable result of the sun's radiation. So, the shift to hydrogen for fuel is simply a shift away from depleting finite sources of fossil fuels.

Green hydrogen can be a game changer for India, which imports 85% of its oil and 53% of gas demand.

Co-head of Research at Equitymaster, Tanushree Banerjee talks what kind of companies are helping India in this green hydrogen landscape, in her latest video.

Tune in to the below video:

Top buzzing stocks today

Voltas share price will be in focus today.

Shares of Voltas surged 13% on Monday to hit their 52-week high of Rs 1,392 on the NSE after the Tata company reported landmark sales of 2 million (m) units of air conditioners in FY 2023-24.

In a filing to the exchanges on Sunday, the company claimed to have become the first ever brand to achieve this milestone in the history of the air conditioning industry in India.

Cochin Shipyard will also be a top buzzing stock.

Cochin Shipyard's (CSL) share price touched its 52-week high of Rs 1,135.6 in early trade on 8 April after the company signed the master shipyard repair agreement (MSRA) with the United States Navy.

The MSRA is a non-financial agreement and will facilitate the repair of US Naval vessels under the Military Sealift Command in CSL.

Hyundai & Kia Partners Exide Energy Solutions

South Korean auto majors Hyundai Motor Company and Kia Corporation on Monday announced a partnership with homegrown battery maker Exide Energy Solutions Ltd for electric vehicle battery localisation in India.

Hyundai Motor Company and group firm Kia Corporation have signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd, a leading Indian battery company, as part of their electric vehicle (EV) expansion plans.

Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells in line with the expansion of their EV plans for the Indian market.

India is a key market for vehicle electrification due in part to the government's carbon neutrality goals, which makes securing cost competitiveness through localised battery production crucial.

Hyundai Motor Group said the strategic cooperation with Exide Energy marks the beginning of Hyundai Motor and Kia's efforts to expand its exclusive battery development, production, supply and partnerships in the Indian market.

Hyundai Motor India has already announced that it plans to launch its high-volume EV model in 2025. The company currently sells IONIQ5 and Kona in the EV segment. On the other hand, Kia India sells the EV6 model.

Exide Energy Solutions (EES) is a wholly-owned subsidiary of Kolkata-based Exide Industries Ltd, a leading lead-acid battery supplier in India with over 75 years of experience and market leadership in lead-acid batteries.

EES was established in 2022 to foray into the business of manufacturing Lithium-ion cells, modules and packs incorporating a portfolio of multiple chemistries and form factors.

MakeMyTrip Expands Global Reach

Online travel service provider MakeMyTrip announced on Monday that it has achieved a significant milestone in its two-decade-long journey by becoming accessible worldwide.

Previously operational in India, the United States (US), and the United Arab Emirates (UAE), MakeMyTrip has now expanded its reach to over 150 countries, including major travel markets such as the United Kingdom (UK), US, Germany, Japan, Italy, France, and others, allowing travellers to benefit from its services globally.

The platform has also ensured compliance with various international regulations, including the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), to accomplish this expansion.

The rigorous standards of compliance and commitment to data protection we have in place for our Indian business helped us transition smoothly towards stringent international compliances.

Auto Stocks in Fast Lane

Amid record highs for the Nifty and Sensex, the Nifty Auto index outshone most sectoral indices, surging over 2% as the market is expecting a strong fourth-quarter performance.

In March, the retail sales increased 3.1% on-year at 2.1 m units, with a growth of 5% and 17% in the two-wheeler and three-wheeler segments, respectively. While commercial vehicle (CV) sales were up every month, passenger vehicle (PV) sales dipped over 6% on-year.

However, experts suggest that a drop in PVs isn't a cause of concern as dealers are having ample bookings and a decent lineup for the festive season.

Market experts suggest that M&M is expected to benefit from its production ramp-up, which shall result in the fulfilment of orders at a better pace, new launches in the EV segment, as well as refreshes of existing models.

Nuvama expects Eicher Motors' revenue growth will be bolstered by improved volume and realisation. The expansion of EBITDA margin is anticipated due to enhanced net pricing and product mix.

Robust growth in profit after tax (PAT) is likely, driven by a higher share of profits from the commercial vehicle subsidiary (VECV).

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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