Gift Nifty Trades Flat | Hero MotoCorp's EV Collaboration | Piramal Enterprises Share Buyback | Top Buzzing Stocks Today

Mon, 31 Jul Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Friday last week, Indian share markets remained continued the momentum as the session progressed and ended the lower on Friday.

Benchmark indices fell on Friday, dragged by losses in financials and information technology (IT) stocks after strong economic data from the US reignited rate concerns, while Asian peers were subdued after Japan's central bank left rates unchanged.

At the closing bell on Friday, the BSE Sensex stood lower 106 points (down 0.1%).

Meanwhile, the NSE Nifty closed down by 14 points.

NTPC and M&M were among the top gainers.

HDFC Bank and Tata Motors, on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index ended 0.6% higher while the BSE SmallCap rose by 0.5%.

Sectoral indices ended the day on a mixed note with stocks in the realty sector and power sector witnessing buying.

Meanwhile, stocks in the banking sector and oil & gas sector witness selling pressure.

Shares of Abbott India and HDFC AMC hit their 52-week high on Friday.

The rupee was trading at 82.26 against the US$.

Gold prices for the latest contract on MCX were trading 0.3% higher at Rs 59,549 per 10 grams at the time of Indian market closing hours on Friday.

At 7:50 AM today, the Gift Nifty was trading 5 points higher at 19,790 levels.

Indian share markets are headed for a muted 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

IOC share price will be in focus today.

Indian Oil Corporation, on Friday, reported a consolidated net profit of Rs 117.4 bn in the first quarter of FY2023-24 amid a recovery in marketing margins.

The company had reported a net loss of Rs 8.8 bn in the same period last year on account of high international crude oil prices.

Garden Reach Shipbuilder's will also be a top buzzing stock.

Garden Reach Shipbuilders & Engineers (GRSE) shares gained 4% in the morning trade on 28 July 2023 after the company announced the launch of an autonomous underwater vehicle (AUV).

The said AUV is lightweight and man-portable one that GRSE developed in collaboration with Aerospace Engineering Private as an industry partner.

Hero MotoCorp and Zero Motorcycles to bring EVs to India

Hero MotoCorp, which has signed an agreement with Zero Motorcycles to collaborate on premium electric motorcycles, is now looking to manufacture, assemble and sell the California-based EV maker's product lines in India.

While no formal announcement was made by either of the partners, Hero MotoCorp's annual report revealed that high-performance electric machines produced by Zero Motorcycles will be assembled in the country.

The collaboration combines the expertise of Zero with the scale of manufacturing, sourcing, and marketing of Hero MotoCorp.

Hero MotoCorp has reaffirmed that it made a substantial investment of US$ 60 million (approx. Rs 4.9 bn) in Zero Motorcycles in September 2022 and will be co-developing all-new premium electric motorcycles with the US EV maker.

However, no timeline is set. Also, the report doesn't mention the key Zero models that will be built and sold by Hero MotoCorp. It is to be mentioned that Zero Motorcycles is an American manufacturer of electric motorcycles and is present internationally.

The company is accelerating its EV rollout, with a plan to be in 100 cities within this calendar year.

Note that 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.

To know more, check out Why Hero MotoCorp is Underperforming the Market?

Piramal Enterprises announces buyback plan

Piramal Enterprises on 28 July, announced a share buyback scheme worth Rs 17.5 bn at Rs 1,250 apiece via the tender offer route.

This represents 5.87% of the total paid-up equity share capital.

The price has been set at Rs 1,250 per share. The offer represents a premium of around 16% to the 28 July 2023 (Friday) closing price of Rs 1,073.

The Board has fixed Friday, 25 August 2023, as the record date to determine the shareholders eligible to participate in the buyback.

The tendering period of the buyback will be open for 5 working days.

The process, timelines and other requisite details of the buyback will be set out in the public announcement and the letter of offer to be published by regulations.

As of 21 July 2023, the promoters held a 43.48% stake in Piramal Enterprises, domestic institutions 13.5%, foreign investors 25.7% and Indian public, corporates and others 17.2%.

The post-buyback shareholding pattern of the Company shall be ascertained subsequently.

For more, check out equitymaster screener on upcoming buybacks in India.

Vedanta's 2.5-year chip plan

Anil Agarwal, founder and chairman of Vedanta Resources, on Friday, reiterated the company's semiconductor manufacturing plan ambitions, saying that the company had identified a technology partner to end a hurdle in securing government incentives for the project.

While he did not disclose the details of the new partner, Agarwal told reporters that the company was confident to start producing make-in-India chips in two-and-half years.

As reported earlier, Vedanta's joint venture (JV) with contract manufacturing giant Foxconn ended after the latter pulled out of the US$ 19.5 bn chipmaking project.

Meanwhile, Foxconn has said it is working on plans to apply for incentives under the semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India.

With forming a recent joint venture to manufacture semiconductor chips, the company has made its space among India's top 5 semiconductor stocks.

Also as China tries to move up the technology supply chain with advanced chips, the US is getting wary, this makes semiconductor the top Indian megatrends.

And to know what's moving the Indian stock markets, 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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers