Gift Nifty Up 28 Points | Sonata Software Joins AI Race | TVS Supply Chain IPO Approved | Bajaj Auto & Top Buzzing Stocks Today

Wed, 26 Jul Pre-Open

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

Benchmark indices ended flat as losses in index heavyweight ITC following its demerger update offset gains in metal stocks after China's pledge to provide policy support to aid economic recovery.

At the closing bell on Tuesday, the BSE Sensex stood lower by 29 points.

Meanwhile, the NSE Nifty edged lower by up by 8 points.

Hindalco, Tata Steel and JSW Steel were among the top gainers.

Asian Paints, ITC and Britannia, on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index and BSE SmallCap ended 0.3% higher.

Sectoral indices ended on a mixed note with stocks in the power sector and metal sector witnessing most of the buying.

On the other hand, stocks from the FMCG sector and realty sector witnessed selling pressure.

Shares of TVS Motors and Oberoi Realty hit their 52-week high on Tuesday.

The rupee was trading at 82.87 against the US$.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 59,181 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:55 AM today, the Gift Nifty was trading 28 points or 0.1% higher at 19,885 levels.

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

Speaking of stock markets, Research analyst, Aditya Vora talks about a little known smallcap company, which can be all or nothing stock.

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Find out what's in store for this company available at distressed valuations in the below video...

Top buzzing stocks today

Bajaj Auto share price will be in focus today.

Bajaj Auto, on 25 July 2023, posted a 42% Rise in profit after tax (PAT) at Rs 16.6 bn in the quarter ended 30 June 2023 against Rs 11.7 bn registered in the year-ago period.

The rise in net profit for the first quarter is on the back of a favourable product mix, healthy volumes and an increase in the average selling price (ASP) of its lineup.

Asian Paints will also be a top buzzing stock.

Asian Paints on 25 July 2023 reported total revenue of Rs 91.8 bn, rising 6.7% from Rs 86.1 bn in the year-ago quarter.

The company reported a consolidated net profit of Rs 15.7 bn for the June 2023 quarter, registering a growth of 52% from Rs 10.4 bn in the same quarter of the previous financial year.

TVS Supply Chain to hit markets

TVS Supply Chain Solutions (TVS SCS), which is part of the Rs 150 bn TVS Mobility Group, has got the Securities and Exchange Board of India's approval to raise funds through an  initial public offerings (IPOs).

The IPO will include a fresh issue of equity shares of around Rs 7.5 bn and an offer for sale (OFS) of more than 200 million (m) equity shares by promoters and shareholders.

The company's shareholders, which include parent group TVS Mobility and investors like Tata Capital Financial Services Ltd and Omega TC Holdings plan to sell 200 m shares in the IPO.

This will be the first IPO by a TVS family company in three decades, after TVS Electronic in 1994. The company originally submitted its IPO document with the market regulator in February 2022 to raise around Rs 20 bn but delayed the plan due to unfavourable market conditions. It submitted fresh documents in April.

TVS SCS, one of the largest companies under the TVS fold, is promoted by TVS Mobility Group, T S Rajam Rubbers, Dhinrama Mobility Solution, and Ramachandran Dinesh.

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

L&T's new order win

Larsen and Toubro (L&T) on Tuesday bagged orders in the range of Rs 10 bn to Rs 25 bn in the power transmission and distribution segments within the country and abroad. New orders have been secured in India and markets abroad.

On the domestic front, the business has won an order to implement SCADA/DMS and related IT infrastructure for urban area power distribution systems in central Gujarat. Another order is for building a 400kV double-circuit transmission line in Jharkhand.

In the Middle East, the company has received an order for the construction of a High Voltage Direct Current (HVDC) transmission segment.

In the Sarawak region of Malaysia, the company has bagged an order in a consortium to set up a 275kV substation.

The company did not disclose the order value, but according to the company's project classification, the orders are in the range of Rs 10 bn to Rs 25 bn.

Note that L&T has rewarded investors with 10 bonuses over the last 7 decades and the CAGR over the last 20 years stands at an impressive 25.6%.

L&T has been an investor's favorite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

In line with its commitment to a sustainable future, L&T is poised to make significant strides in the green hydrogen landscape. For more details, check out L&T's next big leap in the green hydrogen space.

Sonata Software launches generative AI platform

Sonata Software has recently introduced Harmoni.AI, an innovative responsible-first artificial intelligence (AI) offering.

This comprehensive platform comprises a range of industry solutions, service delivery platforms, and accelerators, all powered by generative artificial intelligence (AI).

By leveraging vast training datasets and neural network technology, AI models are capable of generating original, human-like content.

Sonata adopts a Responsible by Design approach, prioritizing ethics, trust, privacy, security, and compliance.

With this approach, Harmoni.AI empowers individuals, businesses, and communities to harness the full potential of cutting-edge innovations, interconnected ecosystems, and pervasive efficiencies.

Harmoni.AI is a holistic platform for generative AI backed by a robust Data Governance and Acceleration engine.

It offers the flexibility of using Industry Leading Language Models (LLMs) and a consulting framework to facilitate seamless adoption and faster time-to-market.

Sonata has also developed six Service delivery platforms, Industry Use cases, and Acceleration BOTs.

Currently, they are conducting pilot programs with numerous customers, including Fortune 500 clients, with a special focus on Healthcare and Life Sciences, Consumer Products & Retail, Telecom, Media & Technology, as well as Banking and Financial Services.

To ensure expertise in the Responsible-First by Design approach, Sonata has established the Harmoni.AI Academy, which trains engineers to deliver AI initiatives with utmost responsibility.

Since AI stocks interests you, check out Equitymaster's powerful Indian stock screener to filter the best AI stocks in India.

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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