SGX Nifty Down 31 Points | Siemens Hits 52-Week High | Why Vodafone Idea Share Price is Rising | Top Buzzing Stocks Today

Thu, 27 Apr Pre-Open

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On Wednesday, Indian share markets gained during closing hours and ended marginally higher.

Yesterday, benchmark indices erased losses as the session progressed and rose for the fifth consecutive day.

At the closing bell on Wednesday, the BSE Sensex stood higher by 170 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 44 points (up 0.2%).

Power Grid and IndusInd Bank were among the top gainers.

NTPC and Bajaj Finserv on the other hand, were among the top losers.

The BSE Midcap index ended lower by 0.7% and the BSE SmallCap index ended down by 0.4%.

Sectoral indices ended on a mixed note on Wednesday with stocks in the capital goods sector and realty sector witnessing most of the buying.

While consumer durable stocks and metal stocks witnessed selling.

Shares of Nestle and Siemens hit their 52-week highs.

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...

The rupee was trading at 81.72 against the US$.

Gold prices for the latest contract on MCX were trading lower by Rs 81 at Rs 60,180 per 10 grams at the time of Indian market closing hours on Wednesday.

At 7:30 AM today, the SGX Nifty was trading down by 31 points or 0.2% lower at 17,800 levels.

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

Speaking of stock markets, railway stocks are back in the news. Ever since the union budget, when the sector got a massive funding boost, investors and traders have been very interested in these stocks.

These stocks went up and then came down again.

So what will be their next move? Are they looking bullish again? And which stock is trending up right now?

Chartist Brijesh Bhatia answers these question in the below video.

Top Buzzing Stocks Today

KPIT Technologies will be among the top buzzing stocks today.

The IT company approved dividend of Rs 2.65 per share.

The dividend, if declared by the members at the AGM will be paid within the statutory timeline as per the Companies Act, 2013.

The company also announced its Q4 results yesterday. The IT company's net profit rose 11.2% sequentially to Rs 1,116 million (m) versus Rs 1,004 m in Q3.

Mahindra CIE Automotive will also be in focus today.

Mahindra CIE Automotive posted healthy quarterly results.

The company's consolidated profit stood at Rs 2.8 bn in the quarter ended March 2023, up 73% from Rs 1.6 bn a year ago.

The auto ancillary company's revenue from the India segment rose 13.3% to Rs 14.7 bn. The European business outperformed the Indian business by 5.8%. Europe revenue was at Rs 15.5 bn for the quarter, constituting nearly 51.4% of total revenue.

The firm reported revenue of Rs 24.4 bn in the fourth quarter, up 18.4% from Rs 20.6 bn in the December quarter of financial year 2023. Its total expenses jumped 16.7% to Rs 21.7 in Q4 of financial year 2023.

Why Vodafone Idea share price is rising

Vodafone Idea's share price gained 6% on 26 April after Emirates Telecommunications increased its stake in Vodafone Group Plc, the holding company of Vodafone Idea, from 14% to 14.6%.

As of December 2022, the promoters held around 75% in Vodafone Idea, with Vodafone Plc holding 48% and the Aditya Birla Group holding 27%.

According to investor, it has received regulatory approval to raise its stake in Vodafone Plc to 15%. The company has explored potential investment in Vodafone's African business, Vodacom group, media reports said.

The Emirati company is also discussing revamping the board with the British telecom group.

Vodafone Plc's shares have declined around 29% in the last year. The telecom company ousted chief executive officer Nick Read in December 2022, and the board has not yet named a replacement.

The telecom company, also saw a surge of 10% last week when it announced Kumar Mangalam Birla is returning to the board as an additional director.

In February 2023, the central government announced that it would pick up around a 33% stake in Vodafone Idea in lieu of interest payouts over delayed spectrum and adjusted gross revenue payments. This move will make the government Vodafone Idea's largest shareholder and reduce promoter shareholding to around 50%.

Siemens share price hits 52-week high

Siemens is one of the 5 stock that recently hit its 52-weeks high share price.

Siemens share price hit a record high of Rs 3,438 yesterday. The stock has surged 5% in the previous two trading days, surpassing its previous high of Rs 3,400, touched on 11 April 2023.

So far in the calendar year 2023, Siemens has outperformed the market by surging 22%, as compared to 1.6% decline in the S&P BSE Sensex.

The company is focused on industry, infrastructure, transport-relatd technology, as well as transmission and generation of electrical power.

Last week, Siemens, as part of a consortium along with Rail Vikas Nigam Limited (RVNL), received two separate orders from Gujarat Metro Rail Corporation. Siemens' share as part of the consortium is Rs 6.8 bn.

The orders are for Surat Metro Phase 1 (over 40 km covering 38 stations and 2 depots) and Ahmedabad Metro Phase 2 (over 28 km covering 23 stations and 1 depot).

Siemens will provide project management, rail electrification technologies, including advanced power supply and distribution systems. In addition, Siemens will also be providing advanced digital solutions such as supervisory control and data acquisition (SCADA) solution for both metros.

In January, Siemens had signed a Rs 260 bn contract to manufacture 1,200 electric freight locomotives for the Indian Railways. The contract is the single biggest order for Siemens, the company said in a disclosure to the stock exchanges, and will be used for freight transport. The locomotives are specified to haul loads of 4,500 tons at a maximum speed of 120 km an hour.

Deliveries are planned over a 11-year period and the contract includes 35 years of full-service maintenance. The locomotives will be assembled in the Indian Railways factory in Dahod, Gujarat.

During the financial year 2022 (January to December), the Company (as part of a consortium) booked a large order to the extent of approximately Rs 9 bn to develop the Metro Corridor for Pune Metro under the public-private partnership route. It won another order from RVNL for signaling and telecommunication of two corridors of the Kolkata Metro Line 3 and 6.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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