SGX Nifty Up 159 Points | M&M, BEML Q4 Results | Adani Green Energy Surpasses 1 GW - Mark | Top Buzzing Stocks Today

Mon, 29 May Pre-Open

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On Friday last week, Indian share markets extended gains as the session progressed and ended on affirm footing.

Benchmark indices capitalised on a steady start and soared a per cent today tracking strengthening stocks in US markets. The possibility of a deal to settle the US debt ceiling matter and better-than-estimated corporate earnings seemed to have a positive effect on the investors.

At the closing bell on Friday, the BSE Sensex higher by 629 points (up 1.02%).

Meanwhile, the NSE Nifty closed up by 178 points (up 0.9%).

Reliance and Hindalco were among the top gainers.

ONGC and Grasim, 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. The BSE Midcap index ended 0.8% higher and BSE SmallCap ended 0.5% higher.

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

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

Shares of ITC and DFL hit their 52-week highs on Friday.

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 82.58 against the US$.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 59,552 per 10 grams at the time of Indian market closing hours on Friday.

At 7:40 AM today, the SGX Nifty was trading up by 159 points or 0.9% higher at 18,707 levels.

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

Speaking of stock markets, is CCI Products a multibagger in making?

The company is evolving from differentiated commodity player to FMCG brand.

Richa Agarwal talks more about the company in the below video.

Top Buzzing Stocks Today

M&M will be among the top buzzing stocks today.

Auto major M&M on Friday reported a 31% YoY rise in revenue to Rs 225.2 bn from Rs 172.4 bn in the same quarter last year.

The company reported a 22% YoY rise in net profit to Rs 15.5 bn.

Grasim will also be in focus today.

Grasim Industries, for the March 2023 quarter, reported a revenue of Rs 334.6 bn, reflecting a growth of 16% YoY mainly contributed by the strong performance of key subsidiaries.

Net profit was impacted due to softening of realisation in the chemicals business compared to the elevated levels of Q4 last year and continued global weakness in the VSF business.

BEML Q4 net profit rises 18%

State-owned heavy equipment maker BEML, on Friday, reported a 17.6% YoY dip in revenue to Rs 13.9 billion (bn), hurt by a slowdown in the realization of projects.

However, the defense company reported a more than 18% climb in the March 2023 quarter profit as easing input costs offset a drop in revenue.

Consolidated profit rose to Rs 1.6 bn ($19.12 million) for the March 2023 quarter. This was against the profit of Rs 1.3 bn a year earlier.

The net profit margin for the quarter expanded to 11.36% from 7.92% for the same quarter in the previous year.

BEML benefitted from softness in commodity prices and normalizing the supply chain as it saw a near-25% dip in the costs of raw materials, pulling total expenses down by 23.7% YoY to Rs 11.3 bn.

Its board also declared a final dividend of Rs 5 per share.

Speaking of the defense sector, note that the government's Atmanirbhar Bharat Abhiyan has emphasised the need for self-reliance in security space.

We believe the defense sector could produce the next set of multibagger stocks over the long run.

Sun Pharma declares Q4 result & 400% final dividend

Sun Pharma Industries, in the March 2023 quarter, reported a 14.3% YoY rise in revenue at Rs 107.3 bn.

The company posted a net profit of Rs 19.8 bn in the March 2023 quarter, against a loss of Rs 22.7 bn in the same quarter last year.

The corresponding quarter of the previous year was affected by settlement charges of pending litigation in the US and restructuring operations in some countries.

The company reported an Ebitda of Rs 28 bn, up 19.7% YoY, with an Ebitda margin of 25.6% for the March 2023 quarter.

The India formulation sales are up 8.7% YoY (Rs 33.6 bn), while the US formulation sales were up 10.5% YoY (US$ 430 m).

Sun Pharma posted a 6.6% rise in overall India sales to Rs 136 bn. It enjoys an 8.3% share in the Rs 1.8 tn domestic pharma market.

The board has proposed a final dividend of Rs 4 per share for the financial year 2023. This is in addition to the interim dividend of Rs 7.5 per share paid previously, taking the total dividend for FY23 to Rs 11.5 per share compared to Rs 10 per share for the financial year 2022.

Sun Pharma is one of the leading players in the chronic therapies segment in India. In the past five years, the stock has gained 84.7% and is a strong candidate among the top 4 pharma stocks to watch out for potential multibagger return.

Increasing demand for chronic conditions and ailments will be the growth driver for Sun Pharma.

If you want to bank on a specialty pharma story, Sun Pharma is your best bet.

Adani Green Energy Surpasses 1 GW -mark

Adani Green Energy's arm Adani Wind Energy Kutchh Five commissioned a 130-MW wind power plant at Kutch in Gujarat.

With the commissioning of the plant, its total operational wind generation capacity has increased to 1,101 MW, and the total operational renewable generation capacity has touched to 8,216 MW-mark.

The plant has a power purchase agreement (PPA) with Solar Energy Corporation of India at a tariff of Rs 2.83 per kWh (kilowatt hour) for 25 years.

Part of Adani Group, AGEL develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analysis on one screen.

Dig deeper into Adani group 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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