SGX Nifty Trades Flat| Paras Defence Bags New Order from Defence Ministry | Natco Pharma Receives Final USFDA Approval | Top Buzzing Stocks Today

Mon, 19 Jun Pre-Open

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On Friday, Indian share markets ended on a strong note supported by broad gains across sectors after economic data from the US boosted bets that Fed may be less hawkish than expected.

Benchmark indices extended their gains as the session progressed and shot up during the closing hours, following strong gains by index heavyweight Reliance Industries.

At the closing bell on Friday, the BSE Sensex stood higher by 467 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 138 points (up 0.7%).

Bajaj Finserv, Titan and ITC  were among the top gainers.

Wipro, TCS and Power Grid  on the other hand, were among the top losers.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

Sectoral indices ended on a mixed note with stocks in the finance sector, banking sector and capital goods sector witnessed most of the buying.

While IT stocks and realty stocks witnessed selling.

Shares of AIA Engineering and Hindustan Aeronautics 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 81.9against the US$.

Gold prices for the latest contract on MCX were trading 0.3% higher at Rs 59,489 per 10 grams at the time of Indian market closing hours on Friday.

At 8:40 AM today, the SGX Nifty was trading up by 6 points at 18,906 levels.

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

Speaking of stock markets, the stock price of US tech company Nvidia has soared by 25% after the management predicted a massive boom in demand for its computer chips in the latest earnings call.

The company expects to meet the needs of AI products such as ChatGPT.

Can Indian investors profit from such AI led boom in stock markets?

Co-head of Research at Equitymaster Tanushree Banerjee, answers this in the video below.

Top Buzzing Stocks Today

Tata Consultancy Services (TCS) will be among the top buzzing stocks today.

TCS has ended its US$ 2 billion (bn) deal with the American arm of Dutch insurer Aegon NV's subsidiary Transamerica Life Insurance.

The 10-year deal, signed in January 2018, has come to an end as Transamerica plans to cut its dependence on third-party IT services firms such as TCS.

The IT major worked for Transamerica life insurance, annuities, supplemental health insurance and other employee benefit products.

Natco Pharma will also be in focus today.

Natco Pharma on Friday received final approval for its Abbreviated New Drug Application (ANDA) for Tipiracil Hydrochloride and Trifluridine Tablets (generic for Lonsurf) from the US Food and Drug Administration (USFDA).

Lonsurf is sold in the US by Taiho Oncology.

Natco believes it is one of the first-to-file for the product and may be eligible for a 180-day exclusivity period at the time of launch.

Lonsurf is indicated primarily for the treatment of colorectal cancer. As per IQVIA data, Lonsurf had generated annual sales of US$ 211 million (m) in the US during the twelve months ending December 2022.

Why Nykaa share price is rising

Shares of FSN E-Commerce Ventures, which operates Nykaa, zoomed 5% on Friday after the company talked at length about emerging growth areas on its investor day.

The company said it has been working to generate revenue from its innerwear product line Nykd, which is showing signs of promise. In just two years of operation, the product has reached annual revenue of Rs 850 million (m) and is EBITDA positive.

The company said Nykd is among the top 3 in India in the bras category in less than 18 months on Amazon. It has achieved 100% YoY growth in financial year 2023 at 50% lower marketing spends.

For the brand, UP, Uttrakhand, Delhi-NCR, Haryana, Gujarat, Punjab and Karnataka are existing regions, while Maharashtra, Tamil Nadu, Telengana, Andhra Pradesh, West Bengal, the Northeast and Kerala are the emerging markets.

In established markets, the repeats are more than 30%. Store count grew from approximate 350 in financial year 2020 to approximate 1000 in financial year 2023 and projected to cross approximately 2000 in financial year 2024.

According to the IT company Strong trade team across markets with focus on presence in top pareto stores. It has set up four exclusive stores and more are coming up.

Another product line Kay has also shown promise, it said, adding that gross merchandise value (GMV) grew by 75% YoY in last financial year to Rs 1,280 m.

Paras Defence receives a new order from defence ministry

All defence stocks are rising and Paras Defence is no exception.

On Friday Paras Defence share price was rising as the company bagged an order worth Rs 530 m from the Ministry of Defence.

The order is for the supply of Optronic Periscopes, which need to be partially delivered in the current financial year, with balance delivery by finaicial year.

Earlier this month, the defence company also signed a joint venture agreement with CONTROP Precision Technologies to manufacture, install and provide logistics and after-sale support, etc. in the electro-optic infra-red field in keeping with Make in India initiative.

Paras Defence will hold a 30% stake in the venture and the remaining 70% will rest with by CONTROP.

The stock has jumped around 21% in the past three months, with its positive earnings performance in the March quarter also aiding sentiment.

The defence company posted a 4.5% jump in the net profit for the fourth quarter of financial year 2024 to Rs 107.6 m as against Rs 103 m in the same quarter of the previous financial year. The company's revenue also rose 6.3% to Rs 651 m from Rs 612.4 m a year ago.

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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