SGX Nifty Up 86 Points, Tata Motors' EV Focused Subsidiary, Hindalco Q4 Results, and Top Buzzing Stocks Today

Fri, 27 May Pre-Open

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On Thursday, Indian share markets staged a smart recovery in the afternoon session and ended on a strong note.

Benchmark indices snapped a three-day fall and ended on a positive note after trading in a volatile session.

At the closing bell on Thursday, the BSE Sensex jumped 503 points or 0.9%.

Meanwhile, the NSE Nifty climbed 144 points, ending at 16,170.

Tata Steel, SBI, and HDFC Bank were among the top gainers.

ITC, Sun Pharma, and Reliance Industries were among the top losers.

The broader markets ended on a strong note as the BSE Mid Cap index climbed 1.4% while the BSE Small Cap index surged 0.8%.

Barring FMCG stocks, all sectoral indices ended on a positive note. Stocks in the IT sector, metal sector, power sector, and banking sector witnessed most of the buying.

In this volatile market, a few penny stocks are continuously hitting their 52-week highs. Several Indian stocks have delivered multibagger returns in a span of one month. But not all are worthy.

If you're new and on the lookout for fundamentally strong penny stocks, check out the list of penny stocks to buy for long term.

At 7:30 AM today, the SGX Nifty was trading up by 86 points, or 0.5% higher at 16,260 levels.

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

Speaking of stock markets, Chartist Brijesh Bhatia discusses what the charts say about investing in auto stocks, in his latest video for Fast Profits Daily.

Is there a reversal on the cards? Are these stocks becoming good investments now? Brijesh answers all these questions in the video below.

Tune in to find out more:

Top buzzing stocks today

Page Industries share price will be in focus today.

Page Industries reported its Q4 results yesterday. During the quarter under review, the net profit jumped 65% to reach Rs 1.9 bn while the revenue from operations posted a growth of 26% and came in at Rs 11.1 bn as compared to the same quarter last year.

The company's board of directors has declared the fourth interim dividend of Rs 70 per equity share for 2022 fiscal. It has fixed 3 June 2022 as the record date for the said dividend.

Although the scrip is currently trading near Rs 42,000 levels, it's unlikely that Page Industries will consider a stock split anytime soon.

In our recent editorial, we listed the 5 Indian companies with the highest share price and their likeliness to split.

Hindalco Industries share price will also be in focus today.

Hindalco announced a two fold increase in its consolidated net profit at Rs 38.5 bn for the quarter ended March 2022 as against Rs 19.3 bn recorded a year ago.

Every business segment of the company witnessed strong growth during the quarter aided by both higher volumes as well as higher global commodity prices.

The company has recommended a dividend of Rs 3 per equity share price for the 2022 fiscal. You can check out the companies that have announced the biggest dividend payouts this year.

Market participants will also track JSW Steel, Ruchi Soya, and Godrej Industries as these companies will announce their March quarter results later today.

Coal India to divest Bharat Cooking Coal

Yesterday, Coal India announced its plan to sell 25% stake in Bharat Cooking Coal (BCCL) and subsequently list it on the bourses.

Approval for the same has already been received during a board meeting that was held on 10 March.

Although, the board has given an in principle approval to the proposal, only after clearance from the government, further action would be initiated.

Incorporated in January 1972, BCCL is a public sector undertaking engaged in mining of coal and allied activities.

Did you know...shares of Coal India that once traded at Rs 350 (in 2010), now trade at Rs 180, despite having a monopoly.

Tata Motors incorporates EV focused subsidiary

Tata Motors has incorporated a wholly owned subsidiary - TML Smart City Mobility Solutions Ltd, for urban mass mobility business with a special focus on the electric vehicles (EV) segment.

In addition to existing state transport units (STUs) and government fleets, TSCMSL will also cater to all business opportunities across passenger mobility applications, the company said in a statement.

Through the subsidiary, Tata Motors intends to focus specifically on its EV segment as a service offering across its portfolio of commercial vehicles.

The subsidiary has been incorporated with an initial capital of Rs 50 m.

Electric vehicles continue to remain the hottest and emerging trend in the market. Here are 5 mutual funds with high exposure to EV stocks.

ONGC to boost oil exploration

State-owned Oil and Natural Gas Corporation has said it will invest Rs 310 bn over the next three years in exploring the Indian sedimentary basin for fuel reserves.

If successful this could augment the nation's production in its attempt to be self-reliant in the energy sector. Currently, India fulfills 80% of its need through imports.

In a stock exchange filing, the company said:

• ONGC also plans to leverage international collaborations with reputed global majors for this, for which talks are in an advanced stage.

The company said it would invest funds for acquiring seismic survey and drilling of 115-120 wells every year to probe around 1.7 bn tonnes of oil and oil equivalent gas of yet to find reserves.

ONGC will complete the technical bid opening for seismic data acquisition by next month.

With crude oil prices reaching 14-year highs, is it time to bet on these three stocks?

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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