Gift Nifty Down 40 Points | Amara Raja To Seek Funding for EV Battery Business | Why Railway PSU Stocks are Rising | Top Buzzing Stocks Today

Tue, 13 Aug Pre-Open

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Indian benchmark indices continued the fall as the session progressed but ended the day lower.

After starting on the backfoot on Monday amid the Hindenburg-SEBI row, Indian benchmarks - BSE Sensex and NSE Nifty - pared initial losses to end Monday's choppy session on a flat note.

At the closing bell on Monday, the BSE Sensex stood lower by 57 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 22 point (down 0.1%).

ONGC, Infosys and Axis Bank were among the top gainers.

SBI, NTPC and Adani Ports 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 marginally lower and BSE SmallCap index ended flat.

Sectoral indices were trading mixed, with socks in IT sector, oil & gas sector and realty sector witnessed buying speer. Meanwhile stocks in power sector and FMCG sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.4% higher at Rs 70,161 at the time of Indian market closing hours on Monday.

At 7:50 AM today, the Gift Nifty was trading 40 points lower at 24,303 levels.

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

Speaking of the stock market, Rahul Shah the co-head of research at Equitymaster in his latest video talks about delves into a fascinating debate sparked by a recent reunion with friends.

Amidst the nostalgia and cozy vibes of the gathering, an unexpected topic emerged-investing based on astrology.

While some were convinced of its profitability, Rahul remained steadfast in his belief that fundamental analysis is the key to successful investing.

Tune into below video dive into the world of stocks and uncover whether it's more art or science.

Top buzzing stocks today

Coffee Day share price will be in focus today.

Coffee Day's share prices nosedived over 17% in the 12 August session on the back of last week's insolvency order by the National Company Law Tribunal.

After declining 19% in early trade, the stocks recovered slightly to Rs 39.21 apiece.

Suzlon Energy will also be a top buzzing stock.

Shares of Suzlon Energy hit 5% upper circuit to scale a multi-year high of Rs 80.36 on NSE on August 12.

The multibagger stock, which crossed the market capitalisation milestone of Rs 1 trillion (tn) last week, has clocked returns of 47% in just the last month.

Amara Raja To Seek Funding for EV Batteries

In its bid to fulfil its commitment of deploying Rs 95 bn for establishing a gigafactory corridor in Telangana, Amara Raja Energy & Mobility (ARE&M) is looking for external funding options such as debt, equity, or a mix of both.

At present, AREM is sourcing funds through internal accruals and investing through Amara Raja Advanced Cell Technologies (ARACT), which was hived off into a separate entity.

ARACT, a step-down subsidiary established in 2021, is tasked with producing battery cells, packs, and fixed chargers for electric vehicles. In December 2022, Amara Raja stated that it is building a 16 GWH lithium-ion cell production and battery pack assembly facility in Telangana.

Last week, the Amara Raja Group held a groundbreaking ceremony for their Customer Qualification Plant for cell manufacturing and also inaugurated phase 1 of the 1.5 GWH battery pack plant in Mahabubnagar district.

Vikramadithya Gourineni, Executive Director of the New Energy business at Amara Raja Energy and Mobility Ltd., said that some combination of external financing (debt/equity) will be required as the company doesn't intend to fund all the capex for its gigafactory corridor internally.

Meanwhile, Amara Raja expects its New Energy and Mobility Business, comprising cells, packs, chargers, and energy storage systems, to contribute nearly US$ 2-3 bn to its topline of US$ 5-6 bn by 2030.

Railway PSUs Soar 8%

Shares of Rail Vikas Nigam Ltd (RVNL), and other railway PSUs surged around 8% on 12 August as the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi approved eight projects of the Ministry of Railways with a total estimated cost of Rs 246.6 bn on Friday.

The projects, covering 14 districts, will be implemented in Odisha, Maharashtra, Andhra Pradesh, Jharkhand, Bihar, Telangana, and West Bengal with the construction of 64 new stations. These are slated to be completed by the financial year 2030 - 2031.

The proposed projects will improve logistical efficiency by connecting the unconnected areas and enhancing transportation networks, resulting in streamlined supply chains and accelerated economic growth.

Shares of Rail Vikas Nigam (RVNL) were leading the gains, rising around 8%.

In the Union Budget of 2024-25, the Central government announced capital expenditure of Rs 2.6 tn, an increase of Rs 2.4 tn from the previous Budget.

Why Allies Blenders Stock Price is Rising

Shares of Allied Blenders and Distillers jumped over 8% to Rs 317 per share on 12 August, after a report media report stated that the company is in advanced talks with two global spirits giants - Russian Standard and Thai Beverage to market and distribute their products in India.

The report added that the potential partnership would help the company diversify its product offerings beyond whisky, venturing into segments like vodka and scotch. The two international brands would also gain a strong foothold in India, which is one of the world's biggest alcohol-consuming countries.

Listed just a month back, the stock of Allied Blenders has surged nearly 13% from the IPO's upper price band of Rs 281 apiece. The Rs 15 bn IPO also received a robust subscription at 23.55 times, led by non-institutional investors at 32.4x, qualified institutional buyers at 50x, and retail investors at 4.51x their allocated shares.

Allied Blenders is trading at the financial year 2025 Enterprise Value to EBITDA multiple of 27x, while for the financial year 2026, it is trading at 22x, which is at a discount compared to its closed peers.

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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