Gift Nifty Up 17 Points | ACC & Nestle Q1 Results | Rites Partners IRFC | Top Buzzing Stocks Today

Fri, 28 Jul Pre-Open

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On Thursday, Indian share markets pared gains as the session progressed and ended the 0.6% lower.

Benchmark indices ended lower after the US Federal Reserve hiked interest rates by 0.25%. The monthly F&O expiry for the July series also weighed on the sentiment.

At the closing bell on Thursday, the BSE Sensex stood lower by 440 points (down 0.7%).

Meanwhile, the NSE Nifty closed up by 118 points (down 0.6%).

Cipla, Sun Pharma and Apollo Hospital were among the top gainers.

M&M, Tech Mahindra and Nestle, on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index ended 0.5% higher and BSE SmallCap ended marginally higher.

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

On the other hand, stocks from the auto sector and oil & gas sector witnessed selling pressure.

Shares of Raymond and Colgate hit their 52-week high on Thursday.

The rupee was trading at 81.93 against the US$.

Gold prices for the latest contract on MCX were trading 0.1% higher at Rs 59,535 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:50 AM today, the Gift Nifty was trading 17 points or 0.1% higher at 19,781 levels.

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

Speaking of the stock markets, Chartist, Brijesh Bhatia talks about investing in power stock.

He has presented technical analysis on stocks from various sectors. Power stocks have been one of them.

Recently, these stocks have been showing interesting activity on the charts for traders.

Tune in to the below video for the technical outlook on these stocks.

Top buzzing stocks today

Marico share price will be in focus today.

The company's shares jumped 4% after the company signed definitive agreements to acquire a majority stake in Satiya Nutraceuticals, which owns the brand, The Plant Fix- Plix, a digital-first, clean label, plant-based nutrition brand.

In an all-cash deal, the maker of Parachute Coconut oil will buy the stake in the company for an aggregate consideration of up to Rs 3.7 bn.

Zydus Lifesciences will also be a top buzzing stock.

The company gained 5% to touch a 52-week high of Rs 654 yesterday after the pharma company received final approval from the United States Food and Drug Administration (USFDA) for plerixafor injection.

Zydus Lifesciences got the American health regulator's nod for 24 mg/1.2 mL (20 mg/mL) single-dose vials of plerixa for injection used by patients with certain types of cancer to prepare them for a stem-cell transplant.

ACC Q1 results

Cement maker ACC yesterday posted revenue from operations stood at Rs 52 bn in the quarter under review, a significant increase from Rs 44.6 bn in the same period last year.

Its consolidated net profit more than doubled to Rs 4.6 bn for the June 2023 quarter led by volume growth.

The company had posted a net profit of Rs 2.3 bn in the year-ago period.

Further, ACC maintained its market leadership across key markets. EBITDA (Earnings Before Interest Tax Depreciation and Amortization) surged 77% YoY to Rs 8.5 bn in June 2023 quarter, and the EBITDA margin expanded to 16.3% from 10.7% a year back.

The growth was driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimize operations and reduce environmental impact.

The cement maker believes the industry is in a positive cycle of demand as well as cost factors. It expects the positive trend of the industry to continue in the coming quarter.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analyses on one screen.

Dig deeper into Adani group stocks.

Nestle Q1 net profit jumps 37%

Nestle India yesterday reported a consolidated net profit of Rs 6.9 bn for the June quarter of FY24, up 36.8% from Rs 5.1 bn a year ago.

The company reported a 5.1% fall in profit from Rs 7.4 bn in the previous quarter.

The total revenue of the company stood at Rs 46.6 bn, rising 15.14% from Rs 40.5 bn in the year-ago quarter. The revenue decreased 3.56% from Rs 48.3 bn in the previous quarter.

The domestic sales growth is broad-based, with prudent pricing supported by mix and volume. Export sales increased by 25.4%.

The company registered double-digit growth driven by MAGGI Noodles and aided through distribution expansion and impactful consumer activations.

The company's milk products delivered strong double-digit growth despite

inflationary pressures are driven by Milkmaid and Peptamen.

Being an established player in milk and nutrition products, chocolates and confectionary, Nestle India stands among the top FMCG stocks in India.

With a history of paying frequent dividends since 1997, Nestle India is also one of the Top 3 stocks paying big quarterly dividends.

Rites Partners IRFC

Rites, formerly known as Rail India Technical and Economic Service Limited, signed an MoU with the Indian Railway Finance Corporation (IRFC) to identify mutual areas of interest in railway projects.

The MoU will identify mutual areas of collaboration for expanding IRFC's role in providing financial assistance to projects/institutions linked to the Railways.

RITES will assist IRFC in ascertaining the technical and financial viability of the projects, providing advisory and consultancy services.

On 24 July 2023, RITES emerged as the lowest bidder in the tenders for procurement of locomotives and wagons invited by CFM, Mozambique. The estimated value of the deal is approximately Rs 5 bn.

The company's board is scheduled to meet on 28 July 2023, to consider, approve and take on record standalone and consolidated unaudited financial results of the company for the June 2023 quarter.

As the dividend season is fast approaching, Rites is among the 5 Smallcap Stocks That Could Announce Big Dividends This Year.

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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