Gift Nifty Up 23 Points | Dabur's Ambitious Revenue Target | Tata Steel's Port Talbot Deal | Top Buzzing Stocks Today

Mon, 18 Sep Pre-Open

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On Friday last week, Indian share continued the momentum as the session progressed and ended higher.

Benchmark indices extended their record breaking run into third straight day on Friday as the Sensex and Nifty indices surpassed the crucial levels of 67,900 and 20,200, respectively, in intraday trade.

At the closing bell on Friday, the BSE Sensex stood higher 320 points (up 0.5%).

Meanwhile, the NSE Nifty closed 90 points higher (up 0.4%).

Grasim Industries, Bajaj Auto and M&M were among the top gainers.

Asian Paints, BPCL and HUL on the other hand, were among the top losers.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading marginally higher and the BSE Small Cap index is trading higher by 0.3%.

Sectoral indices ended mixed, with stocks in auto sector and telecom sector witnessed buying. Meanwhile stock in oil & gas sector and energy sector witnessed selling.

Shares of Bajaj Auto and TCS hit their 52-week high on Friday.

The rupee was trading at 83.16 against the US$.

Gold prices for the latest contract on MCX were trading 0.4% higher at Rs 58,823 per 10 grams at the time of Indian market closing hours on Friday.

At 7:40 AM today, the Gift Nifty was trading 23 points higher at 20,190 levels.

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

Speaking of stock markets, smallcap stocks have been on fire for the last few months.

Some smallcaps have even doubled in price since March.

Investors and traders alike are looking for the next hot smallcap to buy.

In the below video, Chartist Brijesh Bhatia talks about 5 smallcap stocks that you can keep on your watchlist.

Top buzzing stocks today

Oil India share price will be in focus today.

The stock price of Oil India (OIL) surged 6% on Friday to rebound to near its 52-week high after 3 weeks.

The gains came after the company's CMD Ranjit Rath made a slew of announcements on OIL's growth outlook and told media that the company is exploring all channels to repatriate its dividends worth US$ 150 m from Russia.

Infosys will also be a top buzzing stock.

India's second-largest software services exporter Infosys said it signed a US$ 1.5 bn contract for 15 years with a global company.

Dabur's Rs 70 Billion Revenue Target

FMCG major Dabur India said on Friday that it is planning to grow its Home and Personal Care (HPC) segment in double digits and target revenue of Rs 70 billion (bn) in the medium term. The company is also targeting Rs 50 bn in sales from its healthcare segment.

Both the verticals, HPC and healthcare, part of the care segment, are contributors to Dabur's business. In FY23, they accounted for 56.2% of the consolidated sales of Dabur, which were Rs 115.3 bn.

In the foods and beverages category, the company aims to grow in double digits over the medium and long term on account of healthier and superior quality products, better product communication, and attractive packaging.

To promote growth plan is to increase market share by driving growth in core categories. It will also lead to improved penetration as the Total Addressable Market (TAM) increases. This can be achieved through either entering a new or adjacent category or expanding the current product offerings in the existing category.

Additionally, it plans to achieve the Rs 70 bn target by expanding its distribution network, increasing its premiumisation mix, and implementing the Regional Insights for Speedy Execution (RISE) strategy.

For Dabur's growth strategy, check out Dabur's 'Spicy' Growth Strategy to Acquire Majority Stake in Badshah Masala.

Tata Steel's Port Talbot Agreement

The United Kingdom on Friday announced a joint investment package with Tata Steel worth £1.25 billion (about US$ 1.55 bn), including a government grant of £500 million to secure the future of Port Talbot operations in Wales, the country's largest steelworks, giving a fresh lease of life to the structurally weak business.

A joint investment package, which is said to be the biggest in the UK steel industry in decades, will facilitate greener steelmaking at the Welsh unit. The package will replace coal-powered blast furnaces that are near the end of their effective life with a state-of-the-art 3 million tonne electric arc furnace (EAF).

The move is aimed at reducing the UK's entire carbon emissions by around 1.5%.

Tata Steel's share, about £700 million, would be funded largely through internal equity.

The proposed investment, he said, would preserve significant employment, and it presents a great opportunity for the development of a green technology-based industrial ecosystem in South Wales.

This Tata Group company faced another setback in May 2023. For more details, check out Why Tata Steel's Share Price is Falling.

Tata Sons to go public by Sept 2025

Tata Sons, the principal holding company of the Tata Group, which needs to be listed by September 2025, is weighing options to avoid being categorised as an upper-layer NBFC (non-banking financial company) by the Reserve Bank of India (RBI).

The regulator again on September 14 released a list of 15 NBFCs, including Tata Sons, in the upper-layer category, requiring higher regulatory compliance.

If Tata Sons proceeds with its listing, it could indeed result in a substantial windfall for its shareholders, including Tata Trusts. Based on an estimated valuation of Rs 11 tn for Tata Sons, a 5% offering could be valued at approximately Rs 550 bn, making it one of India's largest public offerings.

The central bank states that upper-layer NBFCs must adhere to a rigorous regulatory framework, including mandatory listing within three years of being classified as such.

This requirement is similar to the listing mandated for private banks and is designed to promote broad ownership.

An NBFC's size and interconnectedness are key factors that determine its classification as an upper-layer NBFC.

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.

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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