SGX Nifty Down 62 Points, Tata Motors EV Bus Order, JSW Steel's Capex Plans, and Top Buzzing Stocks Today

Mon, 25 Jul Pre-Open

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On Friday, Indian share markets ended on a positive note and had their best week since mid-March.

Benchmark indices extended the rally for the sixth straight day boosted by gains in banking and auto stocks on the back of strong earnings expectations.

FIIs seem to be returning to the Indian markets, lifting investor sentiment.

At the closing bell on Friday, the BSE Sensex stood higher by 390 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 114 points (up 0.7%).

Ultratech Cement, HDFC twins, and Axis Bank were among the top gainers.

Infosys, NTPC, and Wipro, on the other hand, were among the top losers.

The broader markets ended on a mixed note. The BSE MidCap index ended lower by 0.2% while the BSE SmallCap index ended higher by 0.2%.

Barring pharma and IT sector, all sectoral indices ended on a strong note with stocks in the FMCG sector, banking sector, and realty sector witnessing most of the buying.

Shares of Bajaj Auto and Adani Enterprises hit their 52-week highs.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Also, check out the five Indian companies with over 7% in dividend yields.

Reliance Industries, HDFC Bank, and SBI were amongst the most active shares on the BSE on Friday.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee was trading at 79.85 against the US$, at the time of Indian market closing hours on Friday.

As the rupee depreciates, check out these five companies which stand to gain big from a weakening rupee.

Gold prices for the latest contract on MCX were trading up by 0.4% at Rs 50,570 per 10 grams, at the time of Indian market closing hours on Friday.

Meanwhile, silver prices for the latest contract on MCX were trading down by 0.1% at Rs 55,352 per 1 kg, at the time of Indian market closing hours on Friday.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Speaking of stock markets, Chartist Brijesh Bhatia in his latest Daily Market Analysis video discusses the chart setup for Nifty, Bank Nifty and the IT index.

Tune in to the below video to get the most profitable ideas and know which intraday stocks to trade today.

Top Buzzing Stocks Today

Tata Motors share price will be among the top buzzing stocks today.

Tata Motors on Friday said that it has received an order of 1,500 electric buses from Delhi Transport Corporation as part of a larger tender by Convergence Energy Services.

As per the agreement, Tata Motors will supply, operate and maintain these buses for 12 years.

Tata Motors has been one of the leading suppliers of electric buses under the Centre's flagship electric vehicles promotion scheme FAME-India.

Tata group is known for producing sustainable and affordable products. Read our recent editorial on how the tata group is riding India's EV revolution.

JSW Steel share price will also be in focus today.

JSW Steel on Friday reported a sharp 86% drop in consolidated net profit for the June 2022 quarter at Rs 8.4 bn, hit by high input costs and a recent duty on exports.

The Sajjan Jindal- led steelmaker had posted a profit of Rs 59 bn in the same period last year.

The company also trimmed its capital expenditure plan by Rs 50 bn for this fiscal amid the volatile market environment.

If you are interested in steel companies, read our recent editorial comparing Tata Steel vs JSW steel: which stock is better.

Market participants will also track shares of Axis Bank, Tata Steel, and Tech Mahindra as these companies are set to announce their Q1 results later today.

Reliance Industries Q1 results

Reliance Industries reported a 46.3% YoY jump in quarterly profit aided by robust refining margins.

For the June 2022 quarter, net profit came in at Rs 179.6 bn as against Rs 122.7 bn posted in the year ago period.

The oil-to-telecom giant reported a 54.5% on-year growth in consolidated revenue from operations to Rs 2.2 tn.

The company reported a 45.8% YoY rise in consolidated operating profit to a record high of Rs 401.8 bn for the quarter under review.

The strength in the company's June quarter performance came from the refining and petrochemical division which posted its highest ever quarterly revenue aided by a tight global energy market.

Despite posting stellar results, Reliance Industries has warned that a global recession can hurt oil refining margins, flagging the possibility of pain ahead.

Reliance Industries' Joint Chief Financial Officer, V. Srikanth said:

• While there has been a lot of spotlight on the windfall gains for oil refiners like Reliance, there are also several headwinds such as higher operating expenses due to soaring freight and input prices.
  
  Raw material costs jumped 76% in the June quarter.

For more details, check out Reliance Industries' news and analysis.

Hindalco partners Aequs

Aditya Birla Group's metals flagship Hindalco Industries and Aequs have entered into a strategic pact for long-term collaboration and joint business development in the commercial aerospace space.

In an exchange filing, Hindalco said:

• Aequs has executed strategic partnership agreement for supply of raw materials including, billets and extrusions by Hindalco Industries through its manufacturing units and/or its subsidiary, Hindalco Almex Aerospace to be ultimately consumed by commercial aerospace original equipment manufacturers.

Given the size of Hindalco, the quantity of raw materials to be supplied to Aequs under the pact is miniscule, the company added.

The move will strengthen the commercial aerospace business of Aequs.

Aequs is a diversified contract manufacturing firm providing vertically integrated product solutions across the aerospace, toys, and consumer durable goods industries.

Aequs operates the largest aero machining facility in the country with over 1 million machining hours delivered per year from the company's Belagavi Cluster.

Post the announcement, Hindalco Industries share price ended 1.7% higher on the BSE today.

Note that the Indian space tech ecosystem is large enough to attract billions in funding and innovate to make India a commercial space tech hub.

Mind you, the ecosystem is brand new and much bigger than that of electric vehicles.

Co-head of research at Equitymaster, Tanushree Banerjee explains why India's SpaceTech stocks can outperform EV stocks in the video below.

Tune in to find out:

Check out our article on top 3 Indian companies in the space race.

And 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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