Gift Nifty Up 690 Points | Apollo Hospitals Targets Mid-Teen Growth | NSE Launches Nifty500 | Top Buzzing Stocks Today

Mon, 3 Jun Pre-Open

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Indian share continued the momentum as the session progressed and ended the day higher.

Benchmark S&P BSE Sensex, and the Nifty50 hit fresh record highs for a third straight day on Friday.

At the closing bell on Friday, the BSE Sensex stood higher by 75 points.

Meanwhile, the NSE Nifty closed higher by 42 points (up 0.2%).

Axis Bank, Adani Ports and IndusInd Bank were among the top gainers.

Adani Enterprises, Wipro and ONGC, on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended marginally higher and BSE SmallCap index ended 0.8% higher.

Sectoral indices are trading mixed with socks in realty sector, telecom sector and metal sector witnessing most buying. Meanwhile stocks in media sector and auto sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.1% higher at Rs 72,300 per 10 grams at the time of Indian market closing hours on Friday.

At 7:30 AM today, the Gift Nifty was trading up by 690 points at 23,379 levels.

Indian share markets are headed for a positive start today following the trend on Gift Nifty.

Speaking of stock market, Research Analyst, Richa Agarwal, in her latest video talks that While data is the new gold, the data center ecosystem could be the goldmine to strike it rich.

Tune in for list of stocks to ride this opportunity.

Top buzzing stocks today

Wipro share price will be in focus today.

Wipro shareholders have approved the US$ 4.33-million severance package of former chief executive officer and managing director Thierry Delaporte with over 90% votes in favour.

Only about 10% of the valid votes were cast against the resolution. Wipro's founder-chairman Azim Premji and entities related to him control a majority of the shares in the company, which helped the resolution pass through.

Sunteck Realty will also be a top buzzing stock.

Sunteck Realty toppled 5% as investors rushed to take home partial profits after the company released its Q4 results. The stock had surged over 7% earlier this week, giving investors plenty of headroom to book partial profits.

The real estate major was back in the black in Q4FY24 by delivering a net profit of Rs 1 bn as against a net loss of Rs 279 m in the year-ago period. Strong housing demand and robust pre-sales were the major drivers behind the company's healthy earnings performance.

Apollo Hospitals Targets Mid-Teen Growth

Apollo Hospitals aims to deliver 15% growth for its core healthcare services business in FY25.

Apollo expects its network expansion and better payor mix to drive volume growth for its healthcare services business. Meanwhile, the chunk of international patients in its payor mix, which currently stands at about 9% of total revenue, is also expected to increase. This was on better connectivity and access compared to the preceding fiscal year.

The company remains confident that the above-mentioned measures would also lift the company's occupancy level as well as its ARPOBs (Average Revenue Per Occupied Bed).

Moving along those lines, the company also outlined Apollo's plan to increase occupancy levels for its hospital business to 68-70% in FY25.

It is worth noting that the hospital major had rolled out a similar guidance for FY24 as well, which it failed to achieve. The company's core hospital business only recorded a slight improvement in occupancy to 65% in FY24, as compared to 64% in the prior fiscal year. Reddy attributed the slow growth in occupancy levels to a marginal reduction in beds due to reallocations for specialised services and a lower-than-expected rise in international patients.

Occupancy levels also varied across metro and non-metro locations. While metro cities recorded occupancy levels of around 67%, those in non-metro areas lagged at 62%.

NSE Launches Nifty500

NSE's index services subsidiary, NSE Indices, on Friday launched a new strategy index - Nifty500 Equal Weight - which represents an alternative weighting strategy to its parent index, the Nifty 500. It includes the same companies as the Nifty 500, however, weighed equally.

The base date for the index is 1 April 2005, and the base value is 1000. The index is reconstituted on a semi-annual basis and weights are rebalanced every quarter.

The index is expected to act as a benchmark for asset managers and a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds and structured products.

It comes as a second consecutive launch by the NSE Indices. On Thursday, NSE Indices launched a new thematic index - the Nifty EV & New Age Automotive index - which will track the performance of companies forming a part of the EV ecosystem or are involved in the development of new-age automotive vehicles or related technology.

The base date for the index is April 2, 2018, and the base value is 1000 the index will be reconstituted semi-annually and rebalanced every quarter.

Canara Bank Commences IPO Process

Canara Bank on Friday said it has initiated the process of IPO for its subsidiary Canara HSBC Life Insurance Company and through the public offer, the lender will dilute about 14.5% of its stake.

The IPO, if approved by the regulators including RBI, the Department of Financial Services, and the union government, will pave the way for Canara HSBC Life's listing on both exchanges.

The size of the issue, timing, and other related matters will be decided in due course and the bank will update the exchanges of all material developments regarding the same.

Last year, the state-owned bank mooted a proposal to sell off its core assets through public issues, and as part of the process, it planned to offload stakes in Canara Robeco AMC and Canara HSBC Life.

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

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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

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