SGX Nifty Up 31 Points | Chalet Hotels Fund Raising Plans | TCS Partners Standard Life | Top Buzzing Stocks Today

Tue, 27 Jun Pre-Open

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On Monday, Indian share markets remained muted throughout the session and ended flat.

Benchmark indices ended flat as the market awaited fresh triggers, while Shree Cement plunged after a report said an income tax probe found tax evasion of Rs 230 bn (US$ 2.81 bn).

At the closing bell on Monday, the BSE Sensex stood lower by 9 points.

Meanwhile, the NSE Nifty closed up by 26 points (up 0.1%).

Cipla, Adani Enterprises and Hero MotoCorp were among the top gainers.

NTPC, TCS and Coal India 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% higher while the BSE SmallCap rose by 0.7%.

Barring energy sector, other sectoral indices ended the day on a positive note with stocks in the auto sector and healthcare sector witnessing most of the buying.

Shares of Trent & Force Motors 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 82.07 against the US$.

Gold prices for the latest contract on MCX were trading 1.5% higher at Rs 69,121 per 10 grams at the time of Indian market closing hours on Monday.

At 7:55 AM today, the SGX Nifty was trading higher by 31 points or 0.2% at 18,735 levels.

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

Speaking of stock markets, a recent survey by Gartner states that almost 33% of electronics supply chain leaders have already moved their businesses out of China.

Or at least are planning to. The increased tariffs imposed by the Chinese and the US government have resulted in rising business costs.

Of course, India has begun reaping the benefits.

Smartphone and premium electronics maker Apple, for instance, is set to triple its production in India in the next three years.

Co-head of Research at Equitymaster, Tanushree Banerjee, in below video talks about such stocks that are set to benefits from India's electronics revolution.

Top buzzing stocks today

L&T share price will be in focus today.

Larsen & Toubro (L&T) yesterday announced that its power transmission and distribution business secured significant new orders in India and abroad.

The company's power transmission and distribution business has bagged two orders in the Middle East for the upgrade of electrical networks in large industrial facilities.

TCS will also be a top buzzing stock.

IT services giant Tata Consultancy Services (TCS) has entered into a strategic partnership with Standard Life International DAC, a wholly owned subsidiary of the Phoenix Group.

The deal is to transform its operating model and enhance the customer experience for its policyholders in Europe, using the TCS Digital Platform for Life and Pensions.

TCS has had a long-standing partnership with the Phoenix Group in the UK, where its UK subsidiary Diligenta has digitally transformed the operating model and administers more than 10 million policies for the latter.

Why Cambridge Technology Enterprises share price is rising

Cambridge Technology Enterprises' share price climbed more than 7% after it received board approval for acquiring US-based Appshark Software Inc for Rs 410 million (m).

Appshark is primarily engaged in salesforce consulting and custom software development.

The proposed acquisition is expected to be completed by March 2026. The IT company has also acquired RP Web Apps, and it is expected to be completed by 30 July 2023. The acquisition price, however, could not be ascertained.

Cambridge Technology Enterprises is an Indian information technology services provider that specialises in software development.

Its core operations revolve around offering a comprehensive range of services in various areas, including artificial intelligence (AI), data management, application development, infrastructure solutions, and cloud computing.

During the March 2023 quarter, the company reported a total income of Rs 620 m, a 106% jump in comparison to Rs 300 m reported during the same period in 2022.

However, the company posted a net loss of Rs 400,000 for financial year 2023, in contrast to a net profit of Rs 37 m recorded during the period ended financial year 2022.

Chalet Hotels to raise funds

Chalet Hotels yesterday announced its plans to raise funds from the promoters for the Koramangala project in Bengaluru.

The company received the real estate regulatory authority (RERA) approval for its residential project in Koramangala in March 2023.

The company also plans to seek approval of shareholders for raising funds including but not limited to the purpose of refinancing high-cost debt.

Following the news, the hotel company's share price was trading in green yesterday.

Chalet Hotels will release the revised financial results for the quarter and year March 2023 after a meeting of its board of directors on 3 July 2023.

The revised standalone and consolidated results would include the scheme of arrangement for the amalgamation of Belaire Hotels and Seapearl Hotels (wholly owned subsidiaries) with the company.

Chalet Hotels (CHL) is an owner, developer, asset manager and operator of high-end hotels and resorts in India.

Capacite Infraporjects bags a new order

Capacite Infraprojects on 26 June 2023 received a Rs 4,525 m order for construction of residential and commercial towers in the National Capital Region (NCR).

Earlier this month, the company announced its plan to raise Rs 963 m through a preferential issue of equity shares, subject to shareholder's approval. The funds raised will be utilised to support the company's long-term working capital requirements.

Incorporated in 2012, Capacite Infraprojects is an EPC company that provides an end-to-end construction service for buildings and factories across sectors (including design and building services).

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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