Gift Nifty Down 20 Points | Torrent Pharma Eyes Cipla Buyout | Vodafone Idea Denies Acquisition Reports | Top Buzzing Stocks Today

Wed, 20 Sep Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Monday, Indian share continued the downtrend as the session progressed and ended lower. The markets were closed on Tuesday on account of Ganesh Chaturthi.

Caution crept into the markets ahead of key central bank decisions globally, dragging the domestic benchmark indices lower.

At the closing bell on Monday, the BSE Sensex stood lower by 242 points (down 0.4%).

Meanwhile, the NSE Nifty closed 59 points lower (down 0.3%).

Titan and BPCL were among the top gainers.

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

Broader markets are trading on a negative note. The BSE Mid Cap index is trading 0.3% lower and the BSE Small Cap index is trading lower by 0.6%.

Sectoral indices ended mixed, with stocks in the auto sector and FMCG sector witnessed buying. Meanwhile stock in the realty sector and metal sector witnessed selling.

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

The rupee was trading at 83.29 against the US$.

Gold prices for the latest contract on MCX were trading 0.3% higher at Rs 59,162 per 10 grams at the time of Indian market closing hours on Monday.

At 7:50 AM today, the Gift Nifty was trading 20 points lower at 20,079 levels.

Indian share markets are headed for a negative 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

HFCL share price will be in focus today.

Shares of HFCL soared 7% on the back of winning a mega order in an otherwise subdued market.

It has secured the order aggregating to Rs 10.2 bn from Madhya Pradesh Jal Nigam, a Government of Madhya Pradesh Undertaking (MPJN).

Radico Khaitan will also be a top buzzing stock.

Radico Khaitan shares jumped after the company announced the commissioning of a greenfield grain distillery with a capacity of 350 kilolitres per day at Sitapur in Uttar Pradesh.

Torrent Pharma Eyes Cipla Buyout

Pharma maker Torrent Pharmaceuticals is in advanced discussions with European fund CVC Capital partners to raise at least US$ 1.2-US$ 1.5 bn as it gets ready to assemble a US$ 7 bn acquisition package to acquire Cipla.

Earlier, Torrent had reached out to several private equity (PE) funds, including Bain Capital, to secure the necessary funds to buy out the promoter family of Cipla.

Torrent is still holding talks with Bain on being a possible co-investor but is likely to choose CVC.

Torrent is discussing with Brookfield to raise Rs 83-90 bn mezzanine debt. Torrent's founders, the Sudhir and Samir Mehta family, have a 71.25% stake as promoters, which they plan to dilute to raise leverage. The Mehta family is seeking to make a non-disposable undertaking (NDU) using the shares as collateral for loans.

No final decision has been taken on the amount of funds. Torrent plans to close the funding by the end of September.

According to sources, CVC and Brookfield can raise their commitments to as much as US$ 2.25 bn and US$ 1.5 bn, respectively, if Torrent fails to raise funds from domestic shadow banks and mutual funds.

With strong cash flows of Cipla and Torrent and a high promoter stake in Torrent Pharma, the deal can be completed.

Cipla's promoters, the Hamied family, own 33.5% of the firm. The current market value of Cipla is around Rs 1 tn.

Pharmaceutical giant Cipla is reportedly exploring a stake sale, and contenders are cropping up in an intense competition. For more, check out Cipla Promoter Stake Sale: Billions of Dollars in Play.

Vodafone Idea Denies Acquisition Reports

Vodafone Idea Monday denied that it is in talks with Verizon, Amazon, or Starlink to be acquired.

News reports had suggested that the company is in talks for a potential takeover with US-based telecom companies and Verizon, Amazon, and Starlink are in the fray for the same.

After gaining for four weeks in a row, shares of Vodafone Idea are in the spotlight on Monday as well.

Besides the takeover buzz, the telecom operator informed the exchanges over the weekend that it had made the payment of Rs 17 bn, including interest, to the Department of Telecom (DoT) about the 2022 spectrum auction instalment.

Last month, the company said it proposed to pay the instalment of nearly Rs 16.8 bn to the DoT by availing a grace period of 30 days with interest. The company has managed to do so within 30 days.

During the company's quarterly earnings update last month, it stated that it received a communication from a promoter group entity that in the event of any fund requirement for meeting its impending payment obligations, it will provide direct or indirect financial support to the extent of Rs 2,000 crore.

To know what is the right way to trade Vodafone Idea. Check out Vodafone Idea - Can Idea Change Your Life?

D B Realty raises convertible Warrants

Real estate developer D B Realty, on Monday, announced that the firm has raised Rs 15.4 bn through the preferential issue of convertible warrants. All convertible warrants have been converted into equity shares in compliance with SEBI Regulations.

The company said in a release that the funds have been raised to augment the capital of the company and to reduce consolidated debt. The funds were raised through the issue to the promoter group and investors in two phases in February and March 2022.

D B Realty also said that the company is focused on being debt-free in the near term.

It is exploring avenues to partner with established large real estate developers to monetise its real estate holdings over 600 acres.

When it comes to real estate stocks, you need to be very careful about the management quality. Poor accounting and lack of corporate governance have been the reason for many large realty companies performing poorly in the past.

Also, a big drag on real estate players is high debt. So, you need to check the debt-to-equity ratio.

For such filtered stock, check out the best real estate stocks in India.

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers