Gift Nifty Trades Flat | Tata Group & Haldiram's US$ 10 Billion Deal | Why Gas Stocks are Rising | Top Buzzing Stocks Today

Thu, 7 Sep Pre-Open

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On Wednesday, Indian share market pared gains as the session progressed and ended mixed.

Equity markets ended mixed in trade on Wednesday in tandem with weak global cues and foreign fund outflows.

At the closing bell on Wednesday, the BSE Sensex stood higher by 100 points (up 0.2%).

Meanwhile, the NSE Nifty closed lower by 31 points (down 0.2%).

Bharti Airtel and Cipla were among the top gainers.

Axis Bank and Hindalco on the other hand, were among the top losers.

Broader markets ended on a mixed note. The BSE Midcap index ended marginally up and the BSE SmallCap index ended flat.

Sectoral indices ended on a mixed note with stocks in the FMCG sector and the oil & gas sector witnessed most of the buying.

On the other hand, stocks from the metal sector and realty sector witnessed selling pressure.

Shares of L&T Technology and Coforge hit their 52-week high on Wednesday.

The rupee was trading at 82.12 against the US$.

Gold prices for the latest contract on MCX were trading marginally higher at Rs 59,260 per 10 grams at the time of Indian market closing hours on Wednesday.

At 7:45 AM today, the Gift Nifty was trading flat at 19,622 levels.

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

Speaking of stock markets, speaking of stock markets, Hidden Treasure, Richa Agarwal, talks about a market leader that seems to be doing well with regards to its relevance in a world marked by electric mobility.

In fact, it is the an exclusive supplier to Ola's 2-wheeler factory in its product category.

Here's an interesting fact about it.

More than 90% of the vehicles running on Indian roads use this company's products.

Now India is the world's 5th largest vehicle market and is expected to become the 3rd largest in terms of volume by 2026. So needless to say, this company is well positioned to benefit as that opportunity unfolds.

The reasons she has have chosen to talk of it are not just its decent fundamentals, but also the fact that the insiders have been on a buying spree for this stock for quite some time now.

Top buzzing stocks today

Tata Steel and ABB India share price will be in focus today.

Tata Steel and ABB India have agreed to explore technology that could help reduce carbon footprint in steel production.

The two companies will focus on system-level assessments of Tata Steel's manufacturing plants and production facilities to evaluate and co-develop short-term and long-term options for energy efficiency, decarbonisation, and circularity.

Power Grid will also be a top buzzing stock.

Shares of Power Grid Corporation of India rose over a per cent to Rs 257 in early trade today after the company emerged as the successful bidder to establish an Inter-State transmission system project.

This project involves building a new electrical station in Dausa, Rajasthan, with the capacity to handle high voltage of about 765/400kV.

Tata eyes Haldiram's control

Tata Group's consumer unit is in talks to buy at least 51% of popular Indian snack food maker Haldiram's but is not comfortable with the US$ 10 billion (bn) valuation sought.

If successfully concluded, a deal would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambani's Reliance Retail.

Haldiram's, a household name in India, is also talking with private equity firms, including Bain Capital about the sale of a 10% stake.

Tata Consumer Products, which owns UK tea company Tetley and has a partnership with Starbucks in India, is negotiating the stake purchase.

Family-run Haldiram's traces its origins back to a tiny shop founded in 1937 and is well-known for its crispy "bhujia" snack sold for as little as Rs 10 across mom-and-pop stores.

Haldiram's snacks are also sold in overseas markets like Singapore and the United States.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

Why Gas stocks are rising

Shares of gas companies surged up to 6 percent intraday on September 6, even as rising global crude oil prices cast a shadow over the pricing metrics.

In the early trades on Wednesday, shares of Petronet LNG were trading 5.8% up at Rs 242, followed by Indraprastha Gas (up 2.03%), Gujarat Gas (up 1.41%), GAIL (up 1.22%) and Adani Total Gas (up 0.58%).

Global energy prices are on the upswing after Brent crude prices in the past week surged to a 10-month high of over US$90 per barrel.

Brent crude prices have surged over 6.5% in the last seven days following a decision Saudi Arabia and Russia to extend their voluntary supply cuts till December. The move triggered concern over shortage during peak winter.

Domestic gas importers are facing further headwinds after workers at Chevron's Wheatstone and Gorgon LNG plants in Australia are set to go on limited strike from 7September, potentially impacting exports of 24.5 MT (around 88 mmscmd) of combined capacities at the two terminals.

This represents around 5% of global LNG liquefaction capacity.

Barring this event, operational environment remains fairly comfortable for LNG prices for both near-term and medium-term.

As a thumb rule, every US$ 1/mmbtu increase in blended gas cost for the domestic and CNG segment results in a margin impact of Rs 3/scm for CNG and domestic segment, necessitating a price hike of Rs 4.4/kg or so for CNG and Rs 3.2/scm for domestic segment to bridge the difference.

Earlier this month, the government increased the price of natural gas to US$ 8.60 per metric million British thermal unit (mmBtu) for September, from US$ 7.85 in August.

However, the price of the gas from the nominated gas fields of ONGC and Oil India has been kept unchanged at the price cap of US$ 6.5 per mmBtu.

The price of domestic natural gas has been linked to the India crude oil basket since April and is changed every month.

Since oil price movements interest you, explore stocks benefitting from rising crude oil prices.

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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