Gift Nifty Up 30 Points | Tata Power Renewable Energy Partners Dugar Power | ABB Powers Samskip's Hydrogen Ships | Top Buzzing Stocks Today

Fri, 22 Sep Pre-Open

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On Thursday, Indian share markets extended losses as the session progressed and ended the day on a weak note.

Equity benchmark indices fell  reeled under selling pressure for a second straight day on Thursday, the day of weekly F&O expiry as well, after the US Federal Reserve's tighter policy through 2024 spooked investors. Besides, escalating diplomatic tensions between India and Canada also dampened sentiment.

At the closing bell on Thursday, the BSE Sensex stood lower by 571 points (down 0.8%).

Meanwhile, the NSE Nifty closed down by 159 points (down 0.8%).

Adani Ports and Asian Paints were among the top gainers.

Cipla and SBI on the other hand, were among the top losers.

Broader markets ended on a negative note. The BSE Midcap index and the BSE SmallCap index fell 0.9%.

Sectoral indices ended on a negative note with stocks in the realty sector, power sector, and financial sector witnessed heavy selling.

Shares of Indian Bank and Phoenix Mill hit their 52-week high on Thursday.

The rupee was trading at 83.05 against the US$.

Gold prices for the latest contract on MCX were trading down by 0.8% at Rs 58,940 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:55 AM today, the Gift Nifty was trading 30 points or 0.2% higher at 19,693 levels.

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

Speaking of stock markets, owning scores of stocks delivering 15% annual rate of return or thereabouts is not a bad idea.

But do not cut the potential mango tree along with the grass.

Only then will you have a few 15% return contenders getting converted into the 15 baggers of your portfolio over time.

In the below video, Research Analyst, Tanushree Banerjee talks about catalyst to convert 15% CAGR into 15x return.

Top buzzing stocks today

Tata Consumer share price will be in focus today.

Tata Consumer Products is reportedly in advanced talks to acquire Capital Foods, the company behind popular food brands Ching's Secret and Smith & Jones.

SJVN will also be a top buzzing stock.

Shares of SJVN tanked 9% in early trade on 21 September after the government launched an offer for sale (OFS) for up to 4.92% equity stake at a deeply discounted floor price.

TCS Bags Kingfisher Deal

Tata Consultancy Services (TCS), on Thursday, bagged an order from European multinational home improvement company Kingfisher Plc. The company said that it has helped Kingfisher to drive seamless customer experiences using TCS OmniStore, an AI-powered unified commerce platform.

Kingfisher selected TCS as its transformation partner and TCS OmniStore to drive innovation and adapt to market trends. The company was looking to upgrade to a multilingual commerce platform that delivers a unified brand experience.

In addition, they wanted to address legal, fiscal, and operational differences across all their European banners, the company informed.

TCS OmniStore has enabled Kingfisher plc to deliver modern commerce experiences with a range of capabilities such as click-and-collect services, scan-and-go options, mobile apps, save the cart and self-checkout facilities along with dynamic promotion capabilities and clienteling.

In addition, the platform also supports advanced payment options such as contactless payment, Apple Pay, Apple Wallet and pay-as-you-go.

TCS OmniStore was the strategic choice for Kingfisher's future growth, orchestrating a fast, smooth, and seamless checkout experience, which is needed for today's customers.

Tata Consultancy Services (TCS) is a bright shining star in the galaxy of Tata Group companies.

TCS has been one of the favourite stocks of investors because of the performance it has delivered since its listing.

If you had invested Rs 1 lakh in TCS shares at the issue price of Rs 850 in the IPO in 2004, the value of that investment today would be around Rs 3,176,000, a return of almost 3,000% by August 2022.

With strong fundamentals, it stands among the 5 best long-term companies of 2023.

ABB Powers Samskip's Hydrogen Ships

ABB, a Swedish-Swiss multinational corporation, is set to deliver a comprehensive power distribution system for Samskip Group's groundbreaking hydrogen-fueled container ships.

These vessels, constructed by Cochin Shipyard in India, are slated for delivery in the third and fourth quarters of 2025 and will operate along the Oslo Fjord to Rotterdam route, covering approximately 700 nautical miles.

Samskip Group's move towards sustainable maritime transport, based in Rotterdam, underscores its leadership in eco-conscious logistics.

The two 135-meter container ships represent a remarkable innovation in maritime technology.

They are poised to be among the world's first vessels of their kind to embrace hydrogen as a primary fuel source. ABB, a global leader in technology and automation solutions, will play a pivotal role in making this vision a reality.

ABB's contribution to this project includes the delivery of a comprehensive power distribution system.

This system encompasses the latest iteration of ABB's Onboard DC Grid technology, specially designed for compactness and efficiency. It ensures the optimal utilization of energy on board the vessels.

This integration guarantees the seamless operation of onboard equipment. Furthermore, the vessels will benefit from ABB Ability Remote Diagnostic Systems, providing 24/7 remote support to enhance safety and performance.

Tata Power Renewable Energy Partners Dugar Power

Tata Power announced on Thursday that its subsidiary, Tata Power Renewable Energy, has agreed with Dugar Power Private Ltd (Dugar Power) of Nepal to accelerate the country's initiatives on renewable energy.

The company has signed an agreement with Dugar Power, which is a subsidiary of Nepal's leading business house Dugar Group, indicating the Tata Group's significant leap into the country's rapidly evolving renewable energy sector.

The tie-up between the two parties' points towards an acceleration of integrating cutting-edge sustainable energy solutions in Nepal. Through the partnership, Tata Power Renewable Energy will deploy transformative solar technologies in the neighbouring country to produce a range of on and off-grid energy solutions.

The collaboration between the two companies also marks the start of a long-term commitment to producing sustainable energy in the country while offering scalable energy solutions in the capacity range of 1 KW to MW levels.

Both companies are strategically positioned to elevate Nepal's energy landscape to unparalleled heights.

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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