Sensex Today Trades 438 Points Higher | Tata Motors DVR Surges 15%, L&T 3% | ITC & Sun Pharma Top Gainers

Wed, 26 Jul 10:30 am

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Asian share markets Asian markets traded mixed following muted gains in the US stocks ahead of the US Federal Reserve interest rate decision on Wednesday.

The Nikkei is trading marginally lower, and the Hang Seng index is trading 0.8% lower. While shanghai Index is trading 0.4% lower.

US stocks advanced Tuesday as traders took in earnings reports and looked ahead to the US Federal Reserve's interest rate decision.

The Dow Jones Industrial Average ended 0.1% higher, and the tech heavy Nasdaq Composite ended 0.6% higher.

Here's a table showing how US stocks performed on Tuesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	122.79	0.91	0.75%	123.69	121.53	129.55	83.45
Apple	193.62	0.87	0.45%	194.44	192.92	198.23	124.17
Meta	294.47	2.86	0.98%	298.3	291.86	318.68	88.09
Tesla	265.28	-3.78	-1.40%	272.9	265	314.67	101.81
Netflix	427.7	-0.67	-0.16%	430.88	426.13	485	211.64
Amazon	129.13	0.33	0.26%	129.58	128.53	146.57	81.43
Microsoft	350.98	5.87	1.70%	351.89	345.07	366.78	213.43
Dow Jones	35,438.10	26.8	0.08%	35,527.57	35,365.26	35,527.57	28,660.94
Nasdaq	14,144.60	85.7	0.61%	14,201.91	14,092.52	14,446.55	10,088.83

Data source: Equitymaster

Back home, Indian share markets are firm note.

At present, the BSE Sensex is trading higher by 438 points. Meanwhile, the NSE Nifty is trading up by 114 points.

L&T, ITC and Tata Motors. are among the top gainers today.

Apollo Hospital, Cipla and HDFC Bank on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.3% higher and the BSE Small Cap index is trading 0.4% higher.

Sectoral indices are trading on a positive note today with stocks in Telecom sector, power sector, FMCG sector and energy sector witnessing most buying.

Shares of MRF and L&T hit their 52-week high today.

The rupee is trading at Rs 81.96 against the US dollar.

In commodity markets, gold prices are trading higher by 0.1% at Rs 59,258 per 10 grams today.

Meanwhile, silver prices are trading flat at Rs 74,750 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of the stock markets, India is undergoing a significant energy transition. In FY23 itself, electric category in 3-wheeler grew over 150% YoY. EV industry as a whole grew 58% YoY.

In the recent months, with electric bus orders on rise, stocks in this space such as Olectra Greentech and JBM Auto have witnessed gains of over 180% in 5 months.

And it's not just mobility space.

Renewable energy theme seems to be in charge. Stocks like Suzlon, a well-known player for harnessing wind energy, despite its negative reserves, have doubled in a similar period.

However, Hidden Treasure, Richa Agarwal would not touch them with a 10-foot pole.

Reason: The underwhelming return ratios in these businesses, and skyrocketing valuations that don't make sense to me.

She believes that the green energy revolution has serious policy push and more legs this time. It's just that one has to find safer ways to play it...Both from a business and valuation perspective.

In the video below she talks about one such business that may not be a part of any thematic or screener related to clean energy yet and could benefit significantly from the investments in solar capacities and the rise of green energy.

Tata Motors Q1 results

Tata Motors yesterday swung back into the black with a consolidated net profit of Rs 32 billion (bn) for the first quarter of fiscal year 2023-24, boosted by the improved margin of its passenger vehicle (PV) business and robust sales at its luxury car unit, Jaguar Land Rover (JLR).

The automobile manufacturing company reported a net loss of Rs 50 bn in Q1 FY23 on revenues of Rs 719.3 bn.

Revenue from operations increased 42% to Rs 1.02 trillion (tn) in the quarter under review. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter stood at Rs 147 bn, up 177%.

The distinct strategy employed by each business is now delivering consistent results and making them structurally stronger.

JLR revenues improved by 57% to £6.9 billion on strong wholesales and an improved mix, resulting in earnings before interest and taxes (EBIT) margins of 8.6%. Commercial vehicle (CV) volumes were lower by 15% over the prior year due to the transition to BS6 Phase 2.

Tata Motors also revealed that its free cash flow (automotive) for the June quarter was positive at Rs 25 bn, driven by a strong improvement in cash profits.

As a result, its net automotive debt got reduced to Rs 417 bn, the company maintained.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

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 segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

The shares of the company are making back-to-back record highs. To know why, check out Why Tata Motors share price is rising.

With consistently increasing margins, Tata Motors is Top 5 Indian Stocks with Consistently Rising Operating Margins.

Ceat Q1 net profit jumps multifold

Tyre maker CEAT on Tuesday reported a multi-fold jump in consolidated net profit at Rs 1.4 bn in the June 2023 quarter.

The company posted a consolidated net profit of Rs 86.8 m in the year-ago period.

Consolidated revenue from operations was at Rs 29.4 bn as against Rs 28.1 bn a year ago, it added. Total expenses in the first quarter were also lower at Rs 27.4 bn compared to Rs 28.2 bn in the same period a year ago.

Replacement and international business are looking good with good product-market fit.

The company expects better sweating of assets, improved efficiencies through digital interventions and otherwise, will improve margins going forward.

In the last three years, the company's revenue has grown at a CAGR of 14% on account of volume growth, making it among the top 5 tyre companies in India by growth.

Union Bank of India partners with IBM

Public sector lender Union Bank of India has partnered with IBM India to co-create a state-of-the-art Digital Business Platform.

This landmark collaboration aims to establish a Digital Bank, equipped with cutting-edge capabilities that focus on omnichannel experiences, data-driven hyper-personalization, and an extensive financial services superstore designed for seamless cross-selling and upselling.

The bank will embrace Open Banking capabilities, allowing for seamless integration of services across multiple partnerships.

The Digital Business Platform will also facilitate full digital journeys, providing customers with unparalleled convenience and efficiency.

With the bank reporting strong operational performance, it is one of the 2 PSU stocks you could bank upon.

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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