SGX Nifty Up 100 Points, Adani Group's Latest Investment, Campus Activewear IPO, and Buzzing Stocks Today

Thu, 21 Apr Pre-Open

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On Wednesday, Indian share markets snapped a five-day losing streak and ended higher as auto, IT and energy stocks saw heavy buying.

At the closing bell on Wednesday, the BSE Sensex stood higher by 574 points, up 1%.

Meanwhile, the NSE Nifty climbed 178 points, ending above the 17,100-mark.

UltraTech Cement, Reliance Industries, and Maruti were the top gainers.

Bajaj Finance, ICICI Bank, and Tata Steel, on the other hand, were among the top losers.

In broader markets, the BSE Mid Cap index was up 0.5%, while the BSE Small Cap index ended higher by 0.4%.

The BSE auto index was the top sectoral gainer and closed 2.2% higher led by Eicher Motors, Tata Motors and Maruti Suzuki, which added over 3% each.

Demand was also seen in IT, FMCG, and pharma sectors.

Shares of Capri Global and Swan Energy hit their 52 week high yesterday.

At 8:00 am today, the SGX Nifty was trading up by 100 points, or 0.6% higher at 17,250 levels.

Indian share markets are headed for a firm opening today following the trend on SGX Nifty.

Gold prices were trading down by 0.4% on MCX at Rs 52,516 per 10 grams, at the time of Indian market closing hours yesterday.

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Top Buzzing Stocks Today

Inox Wind will be among the top buzzing stocks today.

The company's board has approved a fund-raising plan aggregating to Rs 4 bn through preferential issue of equity shares and convertible warrants to promoter and non-promoters.

Cement stocks will also be in focus today.

According to rating agency CRISIL, domestic cement prices are expected to increase by 6-13% across the country as prices of imported coal, pet coke and crude oil rise against the backdrop of the Russia-Ukraine war.

Coal and pet coke prices have increased sharply by 30-50% in the last 6 months. According to a CRISIL report, after rising to Rs 390 per bag over the past 12 months at an all-India level, domestic cement prices are set to climb another Rs 25-50 across regions in April as manufacturers start to pass on rising costs.

Market participants will also track shares of Cyient, HCL Tech and Rallis as these companies are scheduled to announce their quarterly results today.

Campus Activewear IPO Opens Next Week

In latest developments from the IPO space, Campus Activewear's initial public offering (IPO) will open next week on 26 April and close on 28 April.

The public issue of sports and athleisure footwear company comprises an entire offer for sale (OFS) of up to 47.9 m shares by its existing shareholders and promoters.

The company will finalise the basis of allotment on 4 May, and initiation of refunds or unblocking of funds from ASBA account will take place on 5 May.

Currently, promoters and promoters group hold 238 m equity shares, representing a 78.2% stake in the company.

Once listed, the company will join the likes of Bata India and Relaxo Footwears for competition.

According to the RHP, Campus Activewear claims a market share of 17% in branded sports and athleisure footwear industry in India by value for fiscal 2021.

Adani Group to Invest Rs 100 bn

The Adani group on Wednesday committed to invest Rs 100 bn in West Bengal over the next decade.

Gautam Adani said the group will invest in port and infrastructure such as data centre, undersea cable, centre of excellence, warehousing and logistic parks to expand its business in the state.

He added that the investment will help generate 25,000 direct and indirect employment.

Trai Data for February 2022

In news from the telecom space, Bharti Airtel continued to be the only telco to add subscribers, gaining 1.59 m users in February to close the month at 358.07 m subscribers.

Reliance Jio, who is the market leader, lost 3.66 m users to end the month at 402.73 m subscribers.

Vodafone Idea, on the other hand, shed another 1.53 m users in the month, taking its subscribers tally to 263.59 m.

As a result of the subscriber losses, India's total wireless subscribers decreased from 1,145.24 m at the end of January to 1,141.53 m at the end of February, representing a month-on-month decline of 0.32%, according to the subscriber data released by Trai.

Coming to market share, Jio held the largest pie at 35.28%, followed by Airtel (31.37%), while Vodafone Idea came in third (23.1%) at the end of February.

Domestic Air Passenger Traffic Jumps

The domestic air passenger traffic jumped 36.7% year-on-year (YoY) in March 2022, with IndiGo retaining the highest market share of 54.8%.

Air India's market share slipped to 8.8% in March, compared to 10.2% in January.

Compared to January, all airlines lost market share, barring Vistara and Air Asia, which marginally posted growth.

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

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