Gift Nifty Up 22 Points | Inox Wind Q1 Results | M&M to set up EV Manufacturing Unit | Top Buzzing Stocks Today

Mon, 12 Aug Pre-Open

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Indian share markets continued the momentum as the session progressed and ended on firm footing.

Benchmark equity indices BSE Sensex and NSE Nifty ended the week's last trading session with gains, closing higher by 1% each.

At the closing bell on Friday, the BSE Sensex stood higher by 819 points (up 1%).

Meanwhile, the NSE Nifty closed higher by 251 points (up 1%).

Eicher motors, M&M and Tata Motors were among the top gainers.

BPCL, Maruti Suzuki and Sun Pharma on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended 1.2% higher and BSE SmallCap index ended 0.8% higher.

All other Sectoral indices are trading on positive note with socks in realty sector, auto sector and IT sector witnessing most buying.

Gold prices for the latest contract on MCX were trading flat at Rs 69,694at the time of Indian market closing hours on Friday.

At 7:50 AM today, the Gift Nifty was trading 22 points lower at 24,406 levels.

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

Speaking of the stock market, Indian Pharma companies have been at the receiving end of increased enquiries from the US pharma companies that could potentially be a big business opportunity.

Richa Shah, Research Analyst at Equitymaster in her latest video talks about why biosecurity Act could be a potential shot in the arm for pharma stocks

Tune into below video for more details.

Top buzzing stocks today

Trent share price will be in focus today.

Trent on 9 August reported a consolidated net profit of Rs 3.9 bn for Q1 FY25, rising 126% from a profit of Rs 1.7 bn in the same quarter of the previous financial year. Trent's earnings beat Street expectations by a wide margin.

The revenue from operations for the Tata Group company came in at Rs 41 bn, rising 56% from Rs 26.3 bn in the year-ago quarter.

NBCC will also be a top buzzing stock.

NBCC Ltd's shares surged 7% on 9 August after the firm said it received a Rs 150 bn order from Srinagar Development Authority.

The SDA and the NBCC, a government of India enterprise, signed the MoU for the development of a satellite township at Rakh Gund Aksha in Bemina locality on the outskirts of the city.

Inox Wind Q1 Results

Inox Wind Limited (IWL) on Friday posted a Rs 500 m profit after tax during the June quarter on account of a surge in income.

It had reported a loss of Rs 650 m in the April-June quarter of the preceding financial year.

The company's total revenue surged 85 per cent to Rs 6.5 bn from Rs 3.5 bn in the year-ago period.

The company's order book has grown over twofold to 2.9 GW with a mix of PSUs, Independent Power Producers, Commercial and Industrial and retail customers. In the first few months of this fiscal, Inox Wind has secured orders totalling 611 MW across customers, the company said.

IWEL has infused Rs 9 bn recently, making the company net cash positive and strengthening the balance sheet to capitalise on the multi-decadal opportunity in the Indian wind sector.

Part of USD 9 bn INOXGFL Group, Inox Wind Limited (IWL) is India's leading wind energy solutions provider servicing IPPs (independent power producers), utilities, PSUs (public sector units) and corporate investors.

Inox Wind, a subsidiary of the Inox group, takes a comprehensive approach to wind energy.

It offers engineering, procurement, and construction (EPC) services for wind farms, even generating and selling wind power itself.

Shipping Corporation's Q1 Profit Jumps 70%

Shipping Corporation of India (SCI) on August 9 reported a 70% jump in net profit at Rs 2.9 bn in the first quarter of FY25, compared to Rs 1.7 bn in the year-ago period.

The net profit in the June quarter recorded a decline from at Rs 3.1 bn in the March quarter.

The state-run company's revenue from operations rose 26.2% to Rs 15.1 bn in the quarter under review over Rs 12 bn in the corresponding period of the previous financial year.

The firm's EBITDA jumped 40.4% to Rs 5.1 bn in the June quarter against Rs 3.6 bn in the year-ago period. The margin came in at 33.7% in Q1FY25 against 30.3% in Q1FY24.

The Shipping Corporation of India is a government corporation that operates and manages vessels servicing both national and international lines. It is under the ownership of the Ministry of Shipping, Government of India, with its headquarters in Mumbai.

For more details, check out recent editorial This Multibagger Shipping Stock is Setting Sail for a Booming Market.

M&M to set up EV Manufacturing Unit

The country's fourth-largest automaker, Mahindra and Mahindra (M&M), is in talks with the government of Kerala to set up an electric vehicle (EV) manufacturing unit in the southern state, known for its higher EV penetration.

Interestingly, this comes at a time when the state is in the top spot in terms of passenger vehicle EV penetration at 5.2%, higher than 3.2% in Delhi and 3.1% in Karnataka.

Electric two-wheeler penetration is also the highest in Kerala at 13.5%, ahead of Karnataka at 11.5%, Maharashtra at 10.1%, and Delhi at 9.4%.

This time, the state also has the added advantage of having a container port like Vizhinjam.

Ahead of the GIM, the state will conduct roadshows in Chennai, Bengaluru, Mumbai, and Delhi, showcasing the state's potential. The government is planning to develop Kerala as a high-tech hub within 10-15 years.

The state has already zeroed in on 22 knowledge-based sectors, including generative AI, blockchain technology, data analysis, machine learning, robotics, and nanotechnology, among others.

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