Gift Nifty Up 74 Points | Infosys Launches Aster | Why Defence Stocks are Rising | Top Buzzing Stocks Today

Wed, 19 Jun Pre-Open

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Indian share continued the momentum as the session progressed and ended the on positive note.

Equity indices hit record highs in early deals and held onto their gains through the day.

At the closing bell on Tuesday, the BSE Sensex stood higher by 308 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 95 points (up 0.4%).

Wipro, Titan and Shriram Finance were among the top gainers.

Maruti Suzuki, Tata Steel and Hero MotoCorp, on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended 0.5% higherand BSE SmallCap index ended 1% higher.

Sectoral indices are trading mixed, with socks in realty sector, capital goods sector and power sector witnessing most buying. Meanwhile stocks in metal sector and FMCG sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 71,282 at the time of Indian market closing hours on Tuesday.

At 7:35 AM today, the Gift Nifty was trading up 74 points at 23,665 levels.

Indian share markets are headed for a positive start today following the trend on Gift Nifty.

Speaking of the stock market, in a recent video, Rahul Shah, Co-Head of Research at Equitymaster, discusses the essential quality for a successful investor aiming to outperform the market index by at least 5% annually.

Drawing inspiration from legendary investors like Warren Buffett, Shah emphasizes the importance of strategically adjusting one's investment style, shifting between aggressive and defensive approaches and selecting high-quality stocks at attractive valuation.

The author recommends using the Sensex PE ratio to determine when to be aggressive (PE < 20) or defensive (PE > 22) in the Indian stock market.

Tune into below video for more details.

Top buzzing stocks today

Biocon share price will be in focus today.

Shares of Biocon tumbled over 2% on 18 June after the US Food and Drug Administration issued three observations for its Active Pharmaceutical Ingredients (API) facility in Visakhapatnam.

The US FDA concluded its good manufacturing practices (GMP) inspection of Biocon's API facility on 14 June 2024. The US FDA issues observations if it finds divergence from the standards of good manufacturing practices during its inspection of any given facility.

RVNL will also be a top buzzing stock.

Shares of RVNL rose 45 after the company secured an order worth Rs 1.6 bn from East Coast Railway. The project is expected to be completed within 24 months.

Infosys launches Aster

Infosys on 18 June launched its Generative Artificial Intelligence-enabled marketing suite Aster to bring agility to the marketing value chain for business-to-business (B2B) and business-to-consumer (B2C) brands.

Aster uses the AI and Gen AI capabilities of Infosys Topaz to amplify marketing capabilities.

Infosys Topaz is an AI-first set of services, solutions, and platforms using generative AI technologies.

Infosys said Aster has led global brands to realise up to a 50% increase in repeat buyers, a 30% improvement in the cost of marketing operations, and a 40% increase in sales.

Infosys said Aster created a holistic digital ecosystem as the creative partner for an international racing giant - with visual experiences that were highly customised for user groups to boost engagement.

The content engine, along with a ticketing system, has helped the business turn millions of fans into lifelong customers.

The Topaz-powered suite has helped brands improve channel efficiencies by analysing performance data and adapting strategies in real time.

Why Defence Stocks are Rising

Shares of defence companies were buzzing in trade yet again, with names like Hindustan Aeronautics, Mazagon Dock, Paras Defence, and Cochin Shipyard soaring 6-20%.

Barring the election result triggering the meltdown, defence stocks have remained the flavour of the season for some time now, attracting investors thanks to their strong growth prospects and focus on indigenisation.

The recent wave of optimism for the sector has risen from Defence Minister Rajnath Singh's agenda to increase defence exports in the times to come. While assuming charge of the Defence Ministry for a second tenure, Rajnath Singh set an ambitious target to export over Rs 500 bn worth of defence equipment by 2028-2029.

The defence minister also reiterated the government's focus on achieving self-reliance in defence manufacturing and modernisation of armed forces, avenues that carve a strong growth trajectory for defence companies.

Likewise, investors continued to lap up shares of defence companies, driven by the government's continued push towards defence indigenisation and focus on opening up export opportunities.

Meanwhile, these defence names were also among the top gainers on the BSE PSU index, which also surged around 1%.

Piramal's Retail Lending Breakthrough

Piramal Finance, the financial services arm of Piramal Enterprises Limited, announced on 17 June that it had surpassed the milestone of Rs 500 bn in Assets Under Management (AUM) of retail loans. Retail loans have grown 132% since March 2022.

Piramal Enterprises operates through its wholly-owned subsidiary, Piramal Capital & Housing Finance Ltd., under the collective customer brand Piramal Finance.

As per the statement, mortgages remain the dominant part of Piramal Finance's portfolio, accounting for 68% of the overall retail AUM, with a 38% year-on-year increase in FY24. The housing loan portfolio disbursed an average of Rs 8 bn per month in FY24, with an average ticket size of Rs 1.9 m.

Post the announcement, shares of holding company Piramal Enterprises rose 3% to Rs 910.95 apiece on BSE around 12:14 pm. The shares have gained 11% in the last month with a market capitalisation of Rs 204 bn.

Piramal Enterprises Limited aims for retail lending to constitute 75% of the loan book.

The company said it envisions growing its AUM to Rs 1.5 tn by FY28.

Over the last three years, Primal Finance has expanded its customer base as a leading Non-Banking Financial Company-Housing Finance Company (NBFC- HFC) in the affordable lending space.

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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