SGX Nifty Up 55 Points | Patanjali Foods' Ambitious Growth Plans | Indigo Co-Founder's Family to Offload Stake | Top Buzzing Stocks Today

Tue, 13 Jun Pre-Open

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On Monday, Indian share markets picked up pace as session progressed and ended the day marginally higher.

Benchmark indices gyrated in a narrow trading band on Monday as investors awaited the consumer inflation numbers for May and Index of Industrial Production (IIP) for April.

At the closing bell on Monday, the BSE Sensex higher by 99 points (up 0.2%).

Meanwhile, the NSE Nifty closed up by 38 points (up 0.2%).

BPCL, HCL Tech and NTPC were among the top gainers.

Cipla, Titan and Maruti Suzuki, 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 0.5% higher and BSE SmallCap ended 0.7% higher.

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

On the other hand, stocks from the capital goods sector and banking sector witnessed selling pressure.

Shares of HEG and Sonata Software hit their 52-week highs on Monday.

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 82.43 against the US$.

Gold prices for the latest contract on MCX were trading marginally flat at Rs 59,876 per 10 grams at the time of Indian market closing hours on Monday.

At 7:40 AM today, the SGX Nifty was trading up by 55 points or 0.3% higher at 18,753 levels.

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

Speaking of stock markets, is AI going to eat the lunch of the average retail investor? AI or Artificial Intelligence is one of the hottest topics of discussion these days.

You see, the computers that we have used up till now couldn't think on their own. Their outputs were entirely based on a set of instructions or the code as they are called in the technical language.

To put it crudely, no matter how fast or how efficient the computer, it is still a calculating machine at its core. However, AI is a different beast altogether.

It is an intelligence that has been inspired by the natural or the human form of intelligence. In other words, it tries to mimic the human brain. In that case, will it pose a threat to the average retail investor? Will AI impact long term return for the small investor?

Rahul Shah, co-head of research at Equitymaster, answers all these question in the below video.

Top Buzzing Stocks Today

IndiGo will be among the top buzzing stocks today.

The family of IndiGo's co-founder Rakesh Gangwal is likely to sell between 5-8% stake in the Indian airline's parent InterGlobe Aviation, according to the media report.

Rakesh Gangwal and his wife, Shobha Gangwal, hold 13.2% and 2.9%, respectively, in InterGlobe as of the March 2023 quarter.

Cochin Shipyard will also be in focus today.

Share price of Cochin Shipyard rallied 6% today after the company won a contract of Rs 3 bn from the Ministry of Defence.

The company has been declared as an L1 bidder by the Indian Navy for the MR/Mid-Life Upgrade of an Indian Naval Ship.

Patanjali Foods eyes strong growth

Edible oil firm Patanjali Foods has chalked out an aggressive growth plan to reach Rs 50 bn profit and over Rs 500 bn turnover in the next five years, banking on huge opportunity that it sees in FMCG business and oil palm plantations.

Patanjali Foods, erstwhile Ruchi Soya Industries, was acquired in September 2019 by Patanjali Group through a corporate insolvency resolution process.

Patanjali Foods has prepared a vision document for the next five years to become the largest player in the food-FMCG business.

To achieve the five-year growth vision, the company has lined up the launch of new products this fiscal.

Patanjali Food is operating one of the largest oil palm plantations in the country, with over 63,816 hectares under oil palm cultivation engaging, with more than 39,000 farmers across nine states.

The company is setting up its first oil mill at Pasighat in Arunachal Pradesh.

And for a fundamental analysis of Patanjali Foods, check out Equitymaster's Indian stock screener which has a separate screen for best FMCG stocks in India.

Why TVS Motors share price is rising

Shares of TVS Motor rose 3.5% and hit a 52-week high on Monday after the automaker's Singapore-based subsidiary purchased an additional 25% stake in Switzerland-based Swiss E-Mobility Group (SEMG).

SEMG is a Swiss e-bike platform covering B2B and B2C businesses involving the sale of branded e-bikes from leading manufacturers directly to the end consumer and the sale of branded e-biked to an attractive portfolio of B2B key accounts.

To build its foothold in the market, TVS Motor previously purchased a 75% stake in the e-mobility company through its Singapore subsidiary in 2022.

Previously, TVS Motor acquired a 75% stake in the e-mobility company via its Singapore subsidiary in 2022 to establish its presence in the space.

In April this year, TVS Motor (Singapore) agreed to acquire a 25% stake in Killwatt GmbH by way of newly issued shares of the latter, amounting to 8,500 common equity shares.

The company is one of the best two-wheeler EV stocks of India.

TVS Motor manufactures a wide range of two-wheelers from mopeds to racing inspired motorcycles. The company also manufactures three-wheelers.

Note that the electric vehicle (EV) megatrend is a once in a century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Oil prices at 1-month low

Oil prices fell US$ 2 on 12 June, with Brent dropping to one-month lows ahead of the US Federal Reserve meeting as investors tried to gauge the central bank's appetite for further rate hikes.

Concerns on China's fuel demand growth and rising Russian crude supply also weighed on the market.

Chinese economic data raised concerns about demand growth in the world's largest crude importer, offsetting a surge in oil prices from Saudi Arabia pledging to cut production by 1 million (m) barrels per day (bpd) in July.

Brent crude futures fell US$ 1.91, or 2.5%, to US$ 72.88 a barrel, and US West Texas Intermediate (WTI) crude was at US$ 68.15, down US$ 2.02 or 2.8%. Both benchmarks posted their second straight weekly declines last week due to the same reasons above.

Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a 16 June expiry, was last trading lower by 2.6%.

Since oil price movements interest you, explore stocks benefitting from falling crude oil prices.

And to know what's moving the Indian stock markets, 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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