SGX Nifty Down 53 Points, Delhivery & LIC Q4 Results, GAIL's Renewable Energy Push, and Top Buzzing Stocks Today

Tue, 31 May Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Monday, bulls marked a strong rally as Indian share markets ended nearly 2% higher.

Benchmark indices ended on a strong note as investors cheered positive global cues and buying returned to index heavyweight stocks.

At the closing bell on Monday, the BSE Sensex rallied 1,041, ending 1.9% higher.

Meanwhile, the NSE Nifty zoomed 309 points, ending at 16,661.

M&M, Titan, and Infosys were among the top gainers.

Kotak Mahindra Bank, Sun Pharma, and Dr Reddy's Lab were among the top losers.

The broader markets ended on a strong note as the BSE Mid Cap index jumped 2.3% while the BSE Small Cap index increased 2.2%.

All sectoral indices ended in green with stocks in the IT sector, realty sector, and energy sector witnessing most of the buying.

Shares of Blue Dart Express and M&M India hit their 52-week high.

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.

Also check out stocks trading near their 52-week lows and what has caused them to fall. We wrote about why ICICI Securities share price is falling and why IT company Newgen Software is falling.

At 8:00 AM today, the SGX Nifty was trading down by 53 points, or 0.3% lower at 16,598 levels.

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

Speaking of stock markets, co-head of research at Equitymaster Tanushree Banerjee discusses how power sector stocks are profiting from the electric vehicle gold rush, in her latest video.

If you find investing in the pricey direct EV space too risky, turn your attention to this sector that has fetched 3% return in the past decade.

Tune in to find out why:

Top buzzing stocks today

Life Insurance Corporation share price will be in focus today.

State-run insurance behemoth Life Insurance Corporation reported a net profit of Rs 24.1 bn for the quarter ending March 2022, which was 17.4% lower as compared to Rs 29.2 bn reported in the year-ago period.

For the 2022 fiscal, the company posted a net profit of Rs 40.4 bn, which was 39.4% higher as compared to Rs 29 bn in the previous fiscal.

LIC also announced a dividend of Rs 1.5 per equity share.

You can check out the companies that have announced the biggest dividend payouts this year.

Sun Pharma share price will also be in focus today.

The pharma giant Sun Pharma reported a surprise loss of Rs 22.3 bn for the quarter ended March 2022, hit by one-time charges.

The company had reported a net profit of Rs 8.5 bn for the same quarter last year. Revenue for the quarter under review rose 11% from a year ago to Rs 93.9 bn.

Exceptional items for the quarter stood at Rs 39.4 bn against Rs 6.73 bn last year.

Exceptional items include settlements, and provisions related to Taro Pharmaceuticals, and Ranbaxy.

The firm reappointed Dilip Shanghvi as a managing director for a further term of five years and Pawan Goenka was appointed lead independent director with immediate effect.

Market participants will also track shares of PTC India as the company will announce its Q4 results later today.

JSW Steel to continue shipments to Europe

India's largest steel producer, JSW Steel, will continue to supply products to its buyers in Europe without passing on any increase in costs despite the government's decision to impose an export tax.

India, South Asia's third-largest economy, raised export tax by 15% on eight steel intermediates and scrapped import duty on coking coal, shortages of which have been driving up steel prices.

The export taxes on steel were part of a series of changes to taxes on crucial commodities aimed at reining in retail inflation, which has hit eight-year highs.

The government also scrapped import duty on coking coal, a key steelmaking raw material, and raised export tariffs on iron ores and concentrates to 50% from 30%.

After the government's decision to slap the export tax, experts had warned that the move would force steel companies to curtail overseas shipments.

JSW Steel has earmarked Rs 200 bn capital expenditure in the current fiscal and hoped that headwinds such as export duty on steel and high coking coal prices are likely to be short-lived.

Delhivery Q4 results

Delhivery, the recently listed logistics tech company, saw its revenue grow more than two-fold to Rs 20.1 bn in the March quarter, compared to Rs 10 bn posted during the year-ago period.

Meanwhile, its net loss remained flat at Rs 1.2 bn in the quarter under review, against Rs 1.2 bn posted during the year-ago period.

As a percentage of revenue, the company's freight handling charges decreased from 75% in the March 2021 quarter to 72.5% in the March 2022 quarter despite an increase in fuel prices.

The company had launched its initial public offer (IPO) on 11 May through which it garnered Rs 52.4 bn.

Its shares rose 10% to Rs 537 against the issue price on its listing day, 25 May 2022.

Speaking of IPOs, check out these 6 mega IPOs around the corner.

M&M Raises Capex

Mahindra & Mahindra (M&M) has increased its mid-term capital expenditure for automotive and farm equipment business by 27% or Rs 34 bn to Rs 153 bn till fiscal 2024.

This increased capex is fueled by a significant spike in demand for its SUVs and strong electrification push.

It has raised capex for the automotive business by Rs 29 bn and another Rs 4 bn for the tractor business.

Even as the company is delivering over 5,000 units of XUV 700 on a monthly basis, the booking momentum is almost double and the cancellation rate to at a respectable 12.5% claimed Rajesh Jejurikar, ED at M&M.

Major Renewables Push

State-owned GAIL India will invest Rs 60 bn in the next three years in renewables. The investment can go up by an additional Rs 200 bn by 2030, the company's chairman and managing director Manoj Jain said on Monday.

GAIL India Director (Finance) Rakesh Kumar Jain said the company, which reported a 112% jump in fiscal 2022 post-tax net profit at Rs 103.6 bn, has outlined an overall capital expenditure plan of up to Rs 400 bn in the next five years.

This will entail borrowings of up to Rs 200 bn, while the rest will come from internal accruals.

Its chairman said it is looking at almost 3 GW of renewables capacity by 2030, which will include 1 GW to start within the next three years.

The company is undertaking a liquid hydrogen capacity addition right now and the progress done on the prototype will influence its overall investments, Manoj Jain said, adding that a call on the same will be taken after 18 months.

The company is also awaiting a nod from the government on its asset monetisation proposals and expects to monetise up to Rs 40 bn of assets in fiscal 2023.

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

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers