Gift Nifty Trades Flat | Bitcoin Hits 13-Month High | The latest On Tata Play IPO | Adani Green & Top Buzzing Stocks Today

Fri, 7 Jul Pre-Open

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On Thursday, Indian share markets continued the momentum throughout the session and ended higher.

Benchmark indices ended higher amid unabated foreign fund inflows and ended at new closing highs. A hint of caution prevailed at the start amid weak global market trends, but investors set aside the worries for now and continued to bet on the Indian growth story.

At the closing bell on Thursday, the BSE Sensex stood lower by 339 points (up 0.5%).

Meanwhile, the NSE Nifty edged lower by 98 points (up 0.5%).

M&M and Reliance Industries were among the top gainers.

Eicher Motors and Maruti Suzuki, on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index and BSE SmallCap ended 0.7% higher.

Barring the IT sector all other sectoral indices ended the day on a positive note, with stocks in realty sector and oil & gas sector witnessing most buying.

Shares of Maruti Suzuki and Britannia hit their 52-week high on Thursday.

The rupee was trading at 81.49 against the US$.

Gold prices for the latest contract on MCX were trading marginally lower at Rs 58,467 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:50 AM today, the Gift Nifty was trading lower by 3 points at 19,485 levels.

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

Speaking of stock markets, We Indians are very price conscious. No matter what we're buying, we always bargain first.

So, why don't we take the trouble to find bargains in the stock market? You see, most stocks are either trading at super-expensive valuation or they are trading way below their true worth because they are worthless stocks.

There are very few stocks in the market that you can call value for money stocks. But these value for money stocks are some of the safest stocks available in the market that you can buy at bargain prices. See the full video to discover this category of stocks where your downside is limited but upside potential is huge.

Top Buzzing Stocks Today

Adani Green will be among the top buzzing stocks today.

Indian billionaire Gautam Adani's renewable energy unit is considering raising about Rs 123 bn (US$ 1.5 bn) to fund his coal-dependent conglomerate's green diversification, according to the media reports.

Adani Green Energy's board will discuss plans to raise funds from institutional investors on Thursday and will then seek approval from shareholders.

BSE will also be in focus today.

BSE on 6 July 2023 approved the buyback of shares worth up to Rs 3.7 billion (bn) at Rs 816 per share. The buyback will be done via the tender route.

The buyback price is nearly 20% higher than Wednesday's closing price of Rs 680.35 per share.

The latest on Tata Play IPO

The Tata Group is currently evaluating an offer to repurchase a stake in its entertainment content distribution platform from Temasek Holdings Pte.

This move comes as the Indian conglomerate contemplates delaying the initial public offering (IPO) of Tata Play, according to media reports.

Tata Group is also considering whether to delay the Tata Play listing, seeing the market conditions.

Instead, Tata Group has initiated talks with Temasek regarding a potential agreement that would allow the Singaporean state investor to finally exit its long-standing investment in the platform, previously known as Tata Sky.

Temasek owns about 20% of the content distribution platform. A joint venture between Tata Group and Walt Disney Co.'s Twenty-First Century Fox, Tata Play provides pay television via set-top boxes and over-the-top video streaming through its app.

To know more details about the company, check out - Tata Play to Finally Launch an IPO. 5 Key Details.

For more information on IPOs, check out the list of upcoming IPOs.

Amar Raja Electronics acquires stake in Design Alpha

Electronic Systems Design and Manufacturing (ESDM) company Amara Raja Electronics which is a part of the US$ 1.7 billion Amara Raja Group on 6 July, made a strategic investment in engineering design firm Design Alpha.

The new entity will be named Amara Raja Design Alpha.

The agreement was signed by Amara Raja Electronics' Director, Vikramaditya Gourineni and Suresh Nair, the founder of Design Alpha.

According to a release, this move will position Amara Raja Electronics as a fully integrated electronic systems design and manufacturing company, unlocking numerous opportunities in the electronics manufacturing business.

By the stake purchase in Design Alpha, Amara Raja Electronics will gain access to expertise in industrial design, embedded and mixed-signal electronics, power electronics, optical and photonics, firmware, and mechanical design.

It explained that this move would open doors to partnerships with large multinational corporations and expand their customer base.

The development comes at a time the global hardware engineering and design services market is projected to reach a value of US$ 152.75 bn by the end of 2026, with an expected CAGR of 7%.

According to NASSCOM, India's expenditure on engineering, research, and design (ER&D) solutions may increase to US $120 bn by the end of the decade, compared to the current US$ 36 bn.

Apart from this, recently, the company has set up a technology hub to develop lithium-ion batteries, making Amara Raja Electronics among 5 EV battery stocks to watch out for potential multibagger returns.

Also, the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All sectors are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Bitcoin hits 13-month High

Bitcoin hit its highest level in 13 months on Thursday, rising as much as 3.3% to US$ 31,500.

The world's largest cryptocurrency has recently found support due to plans by fund managers, including BlackRock, the world's largest asset manager, to launch a US, listed spot bitcoin exchange-traded fund (ETF).

Nasdaq refiled its application to list BlackRocks's ETF according to a filing made public over initial filings.

According to the crypto trading exchange CoinMarketCap, the current market capitalisation of bitcoin rose by 2.2% to US$ 610,122,773,744. Earlier on 7 July 2022, Bitcoin was traded at US$ 20,547.81.

Since cryptos interest you, check out the best cryptos to invest in.

To know what's moving the Indian stock markets, 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!

Read the latest Market Commentary

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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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Indian Share Market Update: Top Gainers and Losers