Gift Nifty Down 15 Points | Trucking Unicorn BlackBuck Files for IPO | KPI Green Energy Inks PPA with GUVNL | Top Buzzing Stocks Today

Tue, 9 Jul Pre-Open

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Benchmark indices stayed muted on and ended the day lower.

Benchmarks Sensex, and Nifty50 indices stayed in the negative zone on Monday even as broader Mid, and SmallCap indices hit fresh record highs.

At the closing bell on Monday, the BSE Sensex stood lower by 36 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 3 points.

ONGC, ITC and HUL were among the top gainers.

Titan, BPCL and Adani ports 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 and BSE SmallCap index ended 0.2% lower.

Sectoral indices are trading mixed, with socks in oil & gas sector and FMC sector witnessing most buying. Meanwhile stocks in banking sector and metal sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.6% lower at Rs 72,644 at the time of Indian market closing hours on Monday.

At 8:10 AM today, the Gift Nifty was trading down 15 points at 24,389 levels.

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

Speaking of the stock market, Shipping is a significant in the current world as 80% of world trade by volume and 70% by value happens via ships.

So, if India is to be a key player in the global supply chain, it must become a hub of shipbuilding and repair as well.

Currently, the country accounts for about 20% of the market demand for commercial vessels worldwide.

Tanushree Banerjee, Research Analyst, in her latest video talks about that should one be wary of shipping stocks or should we expect multibbager gains?

Tune into below video for more details.

Top buzzing stocks today

Tata Motors share price will be in focus today.

Tata Motors Group's global wholesales in Q1 FY25, including Jaguar Land Rover were at 3,29,847 units, rising 2%, as compared to Q1 FY24.

Global wholesales of all Tata Motors commercial vehicles and the Tata Daewoo range in Q1 FY25 stood at 93,410 units, higher by 6%, over Q1 FY24.

L&T will also be a top buzzing stock.

Larsen & Toubro said that its Renewable arm has finalised mega orders with a leading developer in the Middle East to build two gigawatt-scale solar PV plants with a cumulative capacity of 3.5 gigawatts (GW).

The scope of the orders also includes grid interconnections encompassing pooling substations and overhead transmission lines.

Trucking Unicorn BlackBuck Files for IPO

Flipkart and Accel-backed truck operator BlackBuck has filed draft IPO papers with the Securities and Exchange Board of India (SEBI) to raise Rs 5.5 bn through a fresh issue of shares.

According to the draft red herring prospectus (DRHP) filed with SEBI and BSE, the float includes an offer for sale (OFS) of 21.6 million (m) shares by existing shareholders.

It expects to list its equity shares on the BSE and NSE.  The company plans to use the majority of the funds, about Rs 2 bn, for sales and marketing. It will inject Rs 1.4 bn in its NBFC, BlackBuckFinserve, for financing the augmentation of its capital base to meet its future, and will use about Rs 7.5 m for product development.

BlackBuck founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam will sell 2.2 m, 1.1 m, and 1.1 m shares, respectively in the offer for sale. Initial investor Accel, through its Accel India IV (Mauritius), will sell up to 4.3 m shares and another 923,282 shares through its Accel Growth Fund V L.P fund.

BlackBuck also announced that the offer is being made through a book-building process, with about 75% available for qualified institutional buyers, nearly 15% marked out for non-institutional bidders, and about 10% available for allocation to retail individuals.

Rail Stocks Rally

Shares of railway-related companies continued their journey north, surging by up to 15 per cent on the BSE in Monday's intra-day trade amid heavy volumes in otherwise a subdued market. In the past two trading days, these stocks have zoomed by up to 36% on a healthy business outlook.

Rail Vikas Nigam (RNVL), Indian Railway Finance Corporation (IRFC), IRCON International, BEML, RailTel Corporation of India and Texmaco Rail & Engineering (TexRail) have rallied between 4% and 15% in intra-day trade today.

In the past two trading days, these stocks have soared in the range of 15% to 36%. In comparison, the BSE Sensex was down 0.1% at 79,912.

The rally in railway stocks on Monday, 8 July, came on the back of news reports that the government may focus on higher allocation for this sector in the upcoming budget on 23 July.

Recently, Minister for Railways Ashwini Vaishnav unveiled plans for 2500 new general passenger coaches and 10,000 additional coaches.

The government, meanwhile, is focusing on improving the railway infrastructure and ensuring faster development and completion of tracks, rail electrification, rolling stock manufacturing and delivery of passenger freight services.

The budgetary allocation towards railway projects has been increased to Rs 2.55 trillion for 2024-25 from Rs 2.40 trillion in the previous year.

KPI Green Energy Inks PPA with GUVNL

The company signed a power purchase agreement (PPA) for a 50MW Solar-Wind Hybrid Power Project with Gujarat Urja Vikas Nigam (GUVNL).

This project, comprising 50 MW of solar and 16.80 MW of wind, was awarded through a competitive bidding process issued by GUVNL on 1 November 2023, and secured through a reverse E-Auction on 22 January 2024.

KPI Green Energy develops and maintains grid-connected solar power projects and sells power units generated from the company's solar plants.

Last week, KPI received approval from the Chief Electrical Inspector (CEIG) for its 13.60 MW solar power projects under the Independent Power Producer (IPP) segment. These projects will be added to its power generation asset portfolio through Sun Drops Energia, a wholly-owned subsidiary.

Additionally, KPI received CEIG approval for 15 MW of solar power projects under its Captive Power Producer (CPP) business segment.

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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