SGX Nifty Up 55 Points | Why Realty Stocks Are Rising | Kalyan Jewellers Q4 Results | Top Buzzing Stocks Today

Tue, 16 May Pre-Open

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On Monday, Indian share markets gained momentum as the session progressed and ended higher.

Benchmark indices advanced yesterday as investors welcomed strong earnings from Tata Motors which added to the optimism over cooling domestic and wholesale and retail inflation.

WPI inflation fell by 0.9% and CPI inflation moderated to 4.7% in April 2023, dipping below the RBI's upper tolerance threshold of 6%.

At the closing bell on Monday, the BSE Sensex stood higher by 318 points (up 0.5%).

Meanwhile, the NSE Nifty closed up by 84 points (up 0.5%).

HUL and ITC were among the top gainers.

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

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

Broader markets ended on a positive note with both the BSE Midcap index and the BSE Smallcap index ending 0.5% higher.

Sectoral indices ended on a mixed note with stocks in the realty sector, and FMCG sector witnessing most of the buying.

On the other hand, stocks from the power sector and oil & gas sector witnessed selling pressure.

Shares of Tata Motors and Titan hit their 52-week highs.

The rupee was trading at 82.3 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.2% at Rs 60,996 per 10 grams at the time of Indian market closing hours on Monday.

At 8:00 AM today, the SGX Nifty was trading up by 55 points or 0.3% higher at 18,460 levels.

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

Speaking of stock markets, the Indian share markets have remained quite volatile in recent weeks.

Even a genius mathematician was once a victim of such market volatility. Instead of going with near-term trends and speculative bets on stocks like Infosys and HDFC Bank, it is important to study their long-term financials and valuations carefully.

Especially, if you are considering these stocks as your 10-year bets.

Co-head of Research at Equitymaster Tanushree Banerjee, in her latest video talks about which is the best 10-year bet if you are to choose between Infosys and HDFC Bank.

Top Buzzing Stocks Today

Kalyan Jewellers will be among the top buzzing stocks today.

Kalyan Jewellers on Monday clocked an 18.4% YoY rise in the March 2023 quarter revenue at Rs 33.8 billion (bn) against Rs 28.6 bn a year back.

Net profit for the quarter came in at Rs 710 m, up 1.6% YoY. The company reported a net profit of Rs 720 m in the same quarter of the previous financial year.

The board has recommended a final dividend of Re 0.5 paise, which is 5% per equity share of Rs 10 each, for financial 2023.

Spicejet will also be in focus today.

SpiceJet's Subsidiary, SpiceXpress, on Monday, announced that it will receive a significant investment of US$ 100 million (m) from a UK-based group.

The investment is expected to provide a boost to the aviation industry in India and support SpiceXpress in expanding its operations.

Both sides have signed a Memorandum of Understanding (MoU) as part of the investment deal.

Neuland Laboratories zooms more than 44% in 3 days. Here's why...

Neuland Laboratories share price soared 18% to hit all-time high of Rs 3,040.3 in Monday's intra-day trade. In the past three days, its share price zoomed 44% after the company reported robust March 2023 results as profit after tax (PAT) more than doubled to Rs 845 m.

Total income, grew 61.8% year-on-year (YoY) to Rs 4,151 m, led by growth in specialty and custom manufacturing solutions (CMS) segment. That apart, the company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) margin to 30.8%, up 1,550 basis points YoY, due to better business mix and operational leverage.

Neuland Laboratories is a pharmaceutical company that provides active pharmaceutical ingredients (APIs), complex intermediates, and custom manufacturing solutions services to customers located around 80 countries.

The management said that the company executed a number of CMS projects during the year resulting in business recording significant growth and contributing close to half the Q4 revenues.

Why realty stocks are rising

On Monday, shares of real estate companies were on a roll, with the S&P BSE realty index hitting an eight-month high at 3,760 after realty companies reported strong earnings for the January-March quarter and on expectations of a pause on rate hikes on the back of lower-than-expected CPI inflation for April.

Since April, in past one-and-half months, the S&P BSE Realty index has rallied 21%, as compared to 5.8% rise in the S&P BSE Sensex.

Mahindra Lifespace Developers, DLF, Godrej Properties, Prestige Estate Projects and Sobha developers soared between 5-7%. Oberoi Realty and Macrotech Developers (Lodha) were up 4% and 3%, respectively.

Among individual stocks, shares of DLF hit a multi-year high of Rs 461.6, as it rallied 6% yesterday after the firm reported a healthy 40% year-on-year (YoY) growth in consolidated net profit at Rs 5,810 m for the January-March quarter, driven by strong margins and revenue mix. Revenue, however, was down 6% YoY at Rs 15,760 m.

The stock was trading at its highest level since October 2009. So far in the calendar year 2023, it has outperformed the market by surging 22%, as against 2% rise in the S&P BSE Sensex.

Expensive metals getting more expensive

In the middle of a global precious metal rally, gold prices jumped by Rs 370 to Rs 61,350 per 10 grams on Monday in the national capital.

Similar to gold, the price of silver increased by Rs 750 to Rs 74,350 per kilogramme.

Both gold and silver were trading higher on the international market, at US $ 2,023 per ounce and US $ 24.3 per ounce, respectively.

Monday's Asian trading hours saw higher Comex gold prices as demand for safe haven assets increased amid growing concerns about the US debt ceiling crisis and banking sector crisis.

Reportedly, as the dollar weakened and investors remained apprehensive of the US debt ceiling dispute, which might fuel concerns of a global economic slowdown, gold regained its footing on Monday after three straight sessions of losses.

On concerns that political disputes over extending the federal government's borrowing cap might cause a recession, US consumer morale fell to a six-month low in May.

President Joe Biden stated that he anticipates meeting with legislative leaders today to discuss a strategy to increase the country's debt ceiling and prevent a disastrous default.

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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