Gift Nifty Up 41 Points | Thermax Partners Ceres Power | Kalpataru Projects Bags New Order | Top Buzzing Stocks Today

Fri, 13 Sep Pre-Open

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Indian benchmark indices maintained the momentum as the session progressed but ended the day on firm footing.

Indian benchmark equity indices Sensex and Nifty hit fresh all-time highs on Thursday, mirroring global gains.

At the closing bell on Thursday, the BSE Sensex stood higher by 1,440 points (1.8%).

Meanwhile, the NSE Nifty closed higher by 470 point (up 1.9%).

Hindalco, NTPC and M&M were among the top gainers.

Nestle and Asian Paints 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 were trading positive with socks in metal sector and telecom sector witnessed buying speer.

Gold prices for the latest contract on MCX were trading marginally higher at Rs 71,994 per at the time of Indian market closing hours on Thursday.

At 7:55 AM today, the Gift Nifty was trading 41 points higher at 25,389 levels.

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

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Top buzzing stocks today

Minda Corporation share price will be in focus today.

Auto components manufacturer Minda Corp Ltd has received board approval to raise up to Rs 10 bn through the issuance of new securities.

The decision, taken at the board meeting on Thursday, 12 September, allows for multiple potential routes for fundraising, including a preferential allotment of shares, or a Qualified Institutional Placement (QIP), or a combination of both.

Granules India will also be a top buzzing stock.

Shares of Granules India extended their losing streak for the second straight day, down 13% on 12 September after the US Food and Drug Administration issued six observations to its Gagillapur facility in Hyderabad, Telangana following an inspection conducted from 26 August to 6 September.

Thermax Partners Ceres Power

Thermax has announced a strategic collaboration with Ceres Power, a subsidiary of Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology.

The two companies have entered a non-exclusive, global license agreement for Thermax to manufacture, sell and service stack array modules (SAM) based on Ceres' advanced solid oxide electrolysis cell (SOEC) technology.

Thermax will also develop, commercialise and sell SAM balance of modules (SBM) and multimegawatt SOEC electrolyser modules.

The partnership marks a significant step towards accelerating the deployment of SOEC technology in India and worldwide that will enable cost-effective green hydrogen production.

The collaboration is set to revolutionise the hydrogen production landscape by delivering systems that are up to 25% more efficient than incumbent low-temperature electrolysis technologies and effectively utilise steam generated from industrial process heat/waste heat recovery.

This makes it an optimal solution for decarbonising hard-to-abate industries such as ammonia/fertiliser, steel, refineries and chemical production.

As a step towards commercialisation, Thermax plans to establish a manufacturing facility for the electrolysers, develop the supply chain, and localise critical components.

This collaboration positions Thermax among the few companies globally to provide large-scale SOEC systems for commercial applications.

Kalpataru Projects Bags New Order

Kalpataru Projects International on Thursday said the company and its arms secured orders worth Rs 27.7 bn.

Kalpataru Projects International Ltd (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 27.7 bn.

These include new orders in the Transmission & Distribution (T&D) business in overseas markets and the EPC project for the Extension of the Airport from the Airports Authority of India (AAI).

The new orders also include Design & Build projects for residential buildings in India.

The order from the AAI will mark our entry into the growing domestic airport sector and further diversify our clientele.

The orders in the T&D and B&F business have further enhanced our market position and significantly strengthened our order book.

KPIL is one of the largest specialised EPC companies engaged in power transmission & distribution, B&F, water supply & irrigation, railways, oil & gas pipelines, urban mobility (flyovers & metro rail), highways and airports.

KPIL is currently executing projects in over 30 countries and has a global footprint in over 70 countries.

Auto Surge Lifts Nifty

Nifty Auto was one of the top sectoral gainers today, driving the Nifty 50 index to a new all-time high as the Union Cabinet approved the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme.

The initiative aims to accelerate the adoption of electric vehicles (EVs) in India, sparking optimism across the market.

Among the top performers, Mahindra & Mahindra led the rally, gaining nearly 3%. Bajaj Auto extended its winning streak to four days, reaching an all-time high.

Tata Motors, which had been slipping for eight consecutive sessions, also rebounded, ending slightly over 1% higher.

The PM E-Drive scheme, with an outlay of Rs 109 bn over two years, includes subsidies worth Rs 36.8 bn to promote battery-powered two-wheelers, three-wheelers, ambulances, trucks, and other emerging electric vehicles.

Information and Broadcasting Minister Ashwini Vaishnaw announced that the scheme would provide 100% support for setting up charging infrastructure at 88,500 sites nationwide.

According to a government statement, the scheme will support 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and 14,028 electric buses.

An allocation of Rs 43.9 bn has been earmarked for the procurement of e-buses by state transport undertakings and public transport agencies.

Additionally, the PM-eBus Sewa Payment Security Mechanism, worth Rs 34.4 bn, aims to strengthen the battery-run bus market.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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