SGX Nifty up 87 Points | Tata Group's New EV Battery Plant | Indigo's Global Expansion Plan | Top Buzzing Stocks Today

Mon, 5 Jun Pre-Open

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On Friday last week, Indian share markets picked up pace as session progressed and ended the day higher.

Benchmark indices inched higher on Friday amidst volatility as investor appetite for risky assets improved on bets that the US Federal Reserve could pause its interest rate hikes.

At the closing bell on Friday, the BSE Sensex stood higher by 119 points (up 0.2%).

Meanwhile, the NSE Nifty closed 46 points (up 0.3%).

Hindalco and JSW Steel were among the top gainers.

Infosys and TCS, 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 and BSE SmallCap ended 0.6% higher.

Sectoral indices ended on a mixed note with stocks in the telecom sector, auto sector and metal sector witnessing most of the buying.

On the other hand, stocks from the Oil & gas sector and energy sector witnessed selling pressure.

Shares of Bajaj Auto and Trent 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 82.31 against the US$.

Gold prices for the latest contract on MCX were trading flat at Rs 60,263 per 10 grams at the time of Indian market closing hours on Friday.

At 8:00 AM today, the SGX Nifty was trading up by 87 points or 0.5% higher at 18,715 levels.

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

Speaking of stocks markets, 2022 was a big speed breaker for BAAP (buy at any price) and growth at any price investors.

With the cheap money out of the picture, a lot of high-flying stocks saw the wind beneath their sails disappear. However, the sentiments are shifting again.

From a big sell off in March this year, the smallcaps stocks have rebounded. The smallcap index is now flirting with all-time highs.

For individual smallcaps, the upswing has been even higher. You see, that's the nature of smallcaps. When sentiments are adverse, they take the hardest knock. When markets are upbeat, a slightest nudge could send them soaring. It's good to see smallcaps rallying.

But this comes with a sense of caution as markets are cyclical. And there may be a point when the valuations run ahead of fundamentals. How close or far are we to that point?

Smallcap analyst, Richa Agarwal answers the question in the below video.

Top Buzzing Stocks Today

Zomato will be among the top buzzing stocks today.

The share price of Zomato rose 8% on Friday amid reports of the revision of discounts at the Open Network for Digital Commerce (ONDC).

The stock got traction after media reports suggested that ONDC had revised its incentive scheme for network participants to reduce the dependency on discounts for adoption.

Paras Defence will also be in focus today.

Shares of Paras Defence gained 9% on Friday as the company entered into a joint venture agreement with an Israeli company.

Paras Defence and Space Technologies have entered into a joint venture agreement with CONTROP Precision Technologies to manufacture, instal and provide logistics and after-sale support, etc, in the electro-optic infra-red field in keeping with Make in India initiative.

Tata Group's new EV battery deal

Tata Group on Friday signed an outline deal with the Gujarat government for building a lithium-ion cell factory with an investment of about Rs 130 billion (bn).

It would have an initial manufacturing capacity of 20 Gigawatt hours (GWh), which would be doubled in the second phase of expansion.

The move comes as India is looking to create its electric vehicle (EV) supply chain.

Tata Motors already has a plant at Sanand, and it has also acquired the adjoining Ford Motors plant. The process of integration of the two plants has begun and may take up to one year to complete.

This project will help to establish a lithium-ion cell manufacturing ecosystem in the state.

In April, Jaguar Land Rover (JLR), a subsidiary of Tata Motors, announced its electrification plan.

Riding the electric vehicle (EV) megatrend, Tata Motors has remained in the fast lane when it comes to electric vehicles (EVs). The Tata Group is leading India's EV revolution.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

Indigo expands international operations

IndiGo on Friday unveiled a major expansion plan for its international operations. The airline will start direct flights to six destinations in Africa and Central Asia, including Nairobi, Tbilisi and Tashkent.

The company is embarking on a massive international expansion plan, which will see it connecting Nairobi in Kenya and Jakarta in Indonesia with direct flights from Mumbai in late July or early August.

It will also connect Delhi to Tbilisi and Almaty with thrice-a-week flights and Tashkent and Baku with four times-a-week flights from August. This is a massive jump in its network of international destinations and in line with what the airline has been saying thus far about its international focus.

Successive governments from India have tried courting governments in Central Asia but trade hasn't grown by leaps and bounds.

Most countries had a difficult visa regime, and that meant even tourism was out of bounds. All of this has started to change recently. The traffic is now driven by a mix of tourism, trade, and medical tourism, with India becoming a regional leader in medical tourism.

IndiGo might be the biggest carrier in the country and carries the maximum number of passengers on both domestic and international flights, but the carrier has not ventured outside its sweet spot, relying heavily on the tried and tested gulf routes.

The entire airline sector took a beating when the first covid wave hit in 2020.

But with the onset of 2022, the industry has picked up the pace and started to recover. To know whether it is wise time to invest in airline stocks, check out Airlines stocks: time to deplane.

India's Coal production grows 7% in May

Domestic coal production was 7.10 per cent higher year-on-year at 76.26 million tonnes (MT) in May.

India produced 71.21 MT of coal during the same month in 2022.

The cumulative coal production for the financial year 2024 jumped to 149.41 MT from 138.41 MT in the year-ago period.

Last month, Coal India alone produced 59.94 MT of coal, up 9.5% over 54.7 MT in May 2022.

With an increased first-mile connectivity infrastructure, coal dispatch in May grew 5.7% to 82.2 MT from 77.8 MT in May 2022. First-mile connectivity refers to the transportation of coal from pitheads to dispatch points.

This upturn in offtake has resulted in a comfortable coal stock position, guaranteeing reliable and abundant coal supply lying at pithead coal stock at CIL, SCCL, stock at TPP(DCB) etc.

The coal stock position has strengthened the capability to tackle unforeseen fluctuations in energy demand and ensures meeting the energy demands of the nation.

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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