SGX Nifty Down 33 Points | Vodafone Idea's Revival Plan | 3i Infotech to Set Up AI Lab | Top Buzzing Stocks Today

Thu, 15 Jun Pre-Open

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On Wednesday, Indian share markets recouped the losses in the second half and ended with marginal gains.

Benchmark indices ended marginally higher for the third straight trading session on Wednesday led by gains in index heavyweight Reliance Industries, FMCG and metal stocks. The indices gyrated in a narrow band as investors remained cautious ahead of the US Fed meet outcome later tonight.

At the closing bell on Wednesday, the BSE Sensex stood higher by 85 points (up 0.1%).

Meanwhile, the NSE Nifty closed up by 40 points (up 0.2%).

HDFC Bank, Reliance Industries and ICICI Bank were among the top gainers.

Tata Steel, Grasim and JSW Steel 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 marginally higher while the BSE SmallCap rose by 0.4%.

Sectoral indices ended on a mixed note with stocks in the metal sector, Oil & gas sector and power sector witnessed most buying.

While stocks in the financial sector and banking sector witnessed selling.

Shares of ABB India and JK Cement 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 82.1 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 59,273 per 10 grams at time of Indian market closing hours on Wednesday.

At 7:40 AM today, the SGX Nifty was trading down by 33 points or 0.2% higher at 18,803 levels.

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

Speaking of stocks markets, the Indian stock market is on the verge of touching a new all-time high.

In this mood of bullishness, smallcaps are on fire. These stocks are hitting new highs every day.

But what do the charts say?

In the below video, chartist Brijesh Bhatia shows what the market technicals is suggesting about these stocks for the rest of 2023.

Top Buzzing Stocks Today

Vodafone Idea will be among the top buzzing stocks today.

Vodafone Idea share price jumped 5% yesterday after a reported infusion plan of Rs 140 billion (bn) for revival.

Vodafone Idea is planning a significant capital infusion with Aditya Birla Group and UK's Vodafone Group contributing half of the amount, as part of its business revival plan.

ABG and Vodafone Group are expected to invest Rs 20 bn as fresh equity, on top of the Rs 50 bn capital already invested in the company after the telecom revival package in September 2021. They will also work to raise another Rs 70 bn from external investors.

Dhampur Sugar Mills will also be in focus today.

Dhampur Sugar Mills' share price jumped 2% yesterday, a day after the company completed the expansion of its distillery and commissioned the new capacity.

The new capacity was commissioned on 13 June 2023.

This enhanced capacity would be interchangeable between molasses, syrup and grain, which would allow better utilisation of distillery capacity.

With strategies in place, such as scaling up the ethanol business, better productivity in the sugar segment and reducing manufacturing costs, the company's revenue and net profit are expected to clock CAGR growth of 12% and 21%, respectively.

3i Infotech to set up AI lab

Shares of 3i Infotech jumped 3.7% on 14 June to Rs 34.9 after the IT firm's subsidiary signed a pact with SRM Valliammai Engineering College in Chennai to establish an AI (artificial intelligence) lab within the institute's campus.

NuRe FutureTech, a wholly-owned subsidiary of 3i Infotech, as the accelerator and transformation partner for the company signed a Memorandum of Understanding (MoU) with the Department of Computer Science at SRM Valliammai Engineering College.

This partnership aims to establish a path-breaking AI lab within the institute's campus. The collaboration will foster a mutually beneficial relationship for both the partners through promoting knowledge exchange, research opportunities, and academic growth.

In early 2022, the IT company opened its office at the IIT Madras Research Park, Chennai to establish FutureTech business labs to work on next-gen technologies.

3i Infotech, incorporated in 1993 and headquartered in Mumbai, provides information technology services and software solutions.

Nucleus Software Exports ties up with Mahindra Finance

Nucleus Software Exports inked a pact with Mahindra Finance to automate post disbursement the non-banking finance company's post-loan lifecycle among other services.

This tech partnership with FinnOne NeoTM, the flagship product of Nucleus Software, would help in strengthening the backbone of Mahindra Finance for scale up. With its plug-and-play features, the product has the technological capability to link with partner eco-systems through various fintechs.

The partnership will seek to enhance the employee experience of non-banking finance company's backoffice and operations teams, leveraging the capabilities of FinnOne NeoTM LMS and FinnOne NeoTM Collections.

FinnOne NeoTM CAS would offer a strong credit backbone to power the loan origination journey. These modules shall integrate with the entire business eco-system at Mahindra Finance through its API capabilities.

Nucleus Software is a software product company that provides lending and transaction banking products to the global financial services industry

Meera Industries order win

Meera Industries on 14 June bagged an order worth Rs 57 million (m) from a manufacturer of twisting machines for the technical textile segment.

The order is for the supply of Meera Industries heavy duty ring twister machine and will certainly help improve the revenue visibility for the company.

The company remains positive on the rapid growth within the technical textile industry, driven by increasing demand for high-performance textiles across various sectors. Meera Industries is well-positioned to capitalize on this market opportunity with its comprehensive range of twisting machines and unmatched expertise.

The company's order win highlights its continued success and sets the stage for its future growth and expansion in the technical textiles market.

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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