Gift Nifty Up 70 Points | Route Mobile Partners Microsoft | Ambuja Cement Approves Merger | Top Buzzing Stocks Today

Fri, 28 Jun Pre-Open

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Indian share markets reversed the trend as the session progressed and ended on firm footing.

Amid a volatile session, benchmarks Sensex and Nifty hit fresh record highs on Thursday.

At the closing bell on Thursday, the BSE Sensex stood higher by 569 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 176 points (up 0.7%).

NTPC, Wipro, Grasim Industries were among the top gainers.

L&T, HDFC Bank and Eicher Motors 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 0.3% higher and BSE SmallCap index ended 0.5% lower.

Sectoral indices are trading mixed with socks in power sector, telecom sector and IT sector witnessing most buying. Meanwhile stocks in consumer durables sector and capital goods sector witnessing selling pressure.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 71,234 at the time of Indian market closing hours on Thursday.

At 8:40 AM today, the Gift Nifty was trading up 70 points at 23,206 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

Texmaco Rail share price will be in focus today.

Shares of Texmaco Rail & Engineering zoomed over 11% on 27 June to hit a fresh record high of Rs 245.7 on the National Stock Exchange (NSE).

The sharp rally comes as investors expect the company to benefit from the growing Indian economy, and increasing investments in the railway sector.

Whirlpool will also be a top buzzing stock.

shares of Whirlpool India surged more than 9% on 27 June after it was reported that German engineering group Robert Bosch is considering a bid for the US appliances manufacturer.

The move will help Bosch strengthen its position in the household appliances market at a time when the competition with Asian rivals is heating up, Reuters reported on 26 June.

Route Mobile Partners Microsoft

Proximus, the holding company of Route Mobile signed a strategic partnership with Microsoft for collaboration on digital communications and cloud.

The newly formed strategic partnership between Microsoft and Proximus will allow both parties to leverage their respective expertise and product leadership, accelerated by the power and potential of AI applications and solutions.

Microsoft will strengthen its use of the best-in-class products of Proximus' international affiliates BICS, Telesign and Route Mobile, while Proximus will benefit from Microsoft's Azure Cloud, leveraging all innovative AI and Data evolutions.

Previously, on June 24, Route Mobile announced that the company has extended its partnership with messaging app WhatsApp to enable ticketing service at Nagpur, Pune, and Hyderabad metro.

In an exchange filing, Route Mobile Limited (Route Mobile) said it has partnered with Billeasy E Solutions Private Limited and enabled WhatsApp-based ticket booking for Pune, Hyderabad, and Nagpur metros in addition to Delhi.

Aurobindo Pharma Receives USFDA Report

The US Food and Drug Administration issued an establishment inspection report for Aurobindo Pharma subsidiary Eugia Pharma's injectable facility in Telangana, classifying it as Voluntary Action Indicated (VAI) on June 27.

The US drug regulator inspected the said facility from 19-29 February 2024.

A VAI classification means that the US FDA has found some lapses during its inspection, but these issues are not severe enough to require immediate enforcement action. The company is therefore expected to voluntarily correct these issues to comply with regulatory standards.

Meanwhile, shares of Aurobindo Pharma hit the day's low following the news of the VAI classification.

Earlier this year, the US FDA had also slapped nine observations for another Telangana manufacturing unit of Eugia Pharma, situated in the Sangareddy district. In recent times, several of Aurobindo Pharma's manufacturing units have been entangled in regulatory hurdles.

Regardless, Aurobindo Pharma is also looking to unlock value by exploring a big-bang initial public offer (IPO) of its wholly-owned subsidiary - speciality generic firm Eugia Pharma to raise around Rs 4,500 crore in 2024.

Aurobindo Pharma also stated in an exchange filing last year that it was in the process of exploring all possibilities for restructuring the business of Eugia Pharma.

Eugia Pharma operates six manufacturing units across various locations in India and the US. These units produce a wide range of unique and differentiated products, including general injectables, oncology treatments, hormonal therapies, penems, penicillin, and ophthalmics.

Ambuja Cement Approves Merger

Billionaire Gautam Adani-owned Ambuja Cements on 27 June said that its board has approved merging with Adani Cementation Limited, a subsidiary of Adani Enterprises.

Through this proposed scheme, Adani Enterprises will get 8.7 million shares of Ambuja Cements. The scheme will consolidate cement capacity within the group to bring synergistic benefits to all stakeholders.

It will enable Adani Enterprises to absorb the business of Ambuja Cements and enhance its manufacturing capacity to carry out the manufacturing operation more effectively and seamlessly.

Further, Adani Cementation's limestone resource to further enhance Ambuja's consolidated limestone reserves.

The deal comes as Adani aims to capture a 20% market share by FY28 amid robust demand for building materials in the country.

In April, the cement maker signed another agreement to acquire a grinding unit in Tamil Nadu for Rs 4.1 bn, aiming to expand its presence in the South Indian 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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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