SGX Nifty Up 50 Points | Engineers India Bags New Order | India's First Stock to Cross Rs 100,00 Mark | Top Buzzing Stocks Today

Wed, 14 Jun Pre-Open

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On Tuesday, Indian share markets continued their momentum as session progressed and ended higher.

Benchmark indices ended higher on buying across sectors as investors' risk appetite improved after the latest macroeconomic prints showed India's inflation eased further while economic growth picked pace.

At the closing bell on Tuesday, the BSE Sensex stood higher by 418 points (up 0.7%).

Meanwhile, the NSE Nifty closed up by 114 points (up 0.6%).

Cipla, ITC, and Titan were among the top gainers.

M&M, HCL Tech and Adani Enterprises 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 1.1% higher while the BSE SmallCap rose by 0.8%.

All sectoral indices ended the day on a positive note with stocks in the realty sector, FMCG sector and metal sector witnessing most of the buying.

Shares of MRF and Nestle hit their 52-week highs.

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 82.38 against the US$.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 59,755 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:40 AM today, the SGX Nifty was trading up by 50 points or 0.3% higher at 18,835 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 weren't capable of thinking 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

L&T will be among the top buzzing stocks today.

L&T on Tuesday secured an offshore project from a prestigious overseas client for the hydrocarbon business.

The scope of work comprises engineering, procurement, construction & installation for new offshore structures.

Organized under offshore, onshore, construction services, modular fabrication and advanced value engineering & technology (advent) verticals, LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers.

Greaves Cotton will also be in focus today.

Greaves Cotton partnered with Bike Bazaar Finance to provide flexible financing options for the electric three-wheeler portfolio.

Greaves Electric Mobility (GEMPL), the electric vehicle arm of Greaves Cotton, agreed with Bike Bazaar Finance, an RBI-registered nonbanking finance company that specialises in retail financing of pre-owned and new vehicles.

Under the agreement, Bike Bazaar Finance will finance GEMPL's ELE-branded L3 electric vehicles. This partnership will initially take effect in Uttar Pradesh and Bihar, with plans to expand nationwide soon.

Engineers India order win

Oil and Natural Gas Corporation (ONGC) has awarded the project for replacement of 3 no's CSU off-gas compressors and 6 no's regeneration gas compressors, installation of CBD vessel at Uran plant under EPC reimbursable basis to Engineers India.

The total estimated order value is about Rs. 4.7 billion (bn) with a project completion schedule of about 40 Months.

Engineers India is an Indian central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, government of India.

It is under the ownership of the Ministry of Petroleum and Natural Gas, government of India. It was set up in 1965 with the mandate of providing indigenous technology solutions across hydrocarbon projects.

Over the years, it has also diversified into synergic sectors like non-ferrous metallurgy, infrastructure, water and wastewater management, and fertilisers.

India's first stock to cross Rs 100,000

MRF share price crossed the much-awaited Rs 1 lakh mark on 13 June, as the stock opened over one percent higher.

The stock had earlier hit the Rs 1 lakh mark in May but in the futures segment.

In the past year, MRF has rallied over 45%. It has gained 81% from the March 2020 low of Rs 55,000. In December 2022, the stock rose to Rs 94,500 but failed to sustain that level.

A spike came after 3 May, when the company declared its Q4 results. The tyre maker reported a consolidated profit after tax (PAT) of Rs 3.1 bn for the March 2023 quarter, up 86% year-on-year (YoY). In the same quarter of the previous year, it posted a net profit of Rs 1.7 bn.

Consolidated revenue from operations came in at Rs 58.4 bn, up 10.1% YoY. The company's board declared a final dividend of Rs 169 (1,690% on the face value of Rs 10 per share).

The current forward valuation at 22.3x earnings per share represents an almost 100% premium to its peers, despite a weakening competitive position and similar capital efficiencies.

HFCL gains order from Delhi Metro

HFCL share price was on the rise yesterday after the digital network solution provider bagged a Rs 809.2 million (m) order from Delhi Metro Rail Corporation.

The order includes design, manufacture, supply, installation, testing and commissioning of fibre optics transmission system (FOTS) for three corridors of Phase IV of the Delhi Metro.

The order is expected to be executed within 156 weeks from the date of notice to proceed. Thereafter, the company has to provide warranty support for 104 weeks.

HFCL is an Indian technology company, based in Gurugram, India. It designs, develops, manufactures telecommunications equipment, fiber-optic cables and other related electronics.

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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