Gift Nifty Down 9 Points | Affordable Robotic & Automation's Mainboard Migration | Godrej Properties' Fundraising Plan | Top Buzzing Stocks Today

Fri, 27 Sep Pre-Open

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Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.

Indian benchmark indices BSE Sensex and NSE Nifty50 extended their northward march for another day, scaling fresh peaks before ending Thursday's trading session at record-high closing levels.

At the closing bell on Thursday, the BSE Sensex stood higher by 666 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 181 points (up 0.7%).

Maruti Suzuki, Tata Motors and M&M Steel were among the top gainers.

Cipla, ONGC and NTPC 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 flat and BSE SmallCap index ended 0.4% lower.

Sectoral indices were trading higher with socks in metal sector and auto sector witnessing most buying speer. Meanwhile stocks in power sector and capital goods witnessed selling pressure

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 75,449 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:40 AM today, the Gift Nifty was trading 9 points lower at 26,341 levels.

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

Speaking of the stock market, even though the China+1 megatrend was relatively short lived in terms of stock market gains, India's logistics boom is here to stay.

Such a boom could play out for several decades as India's manufacturing, exports and domestic consumption continue to grow.

Tanushree Banerjee, Research Analyst talks about some niche players are the hidden and indirect beneficiaries of India's logistics boom.

Tune in for more

Top buzzing stocks today

ITC share price will be in focus today.

Shares of ITC rose around 1% and hit a record high of Rs 522.45 on 26 September, taking its market capitalisation past the Rs 6.5 trillion mark for the first time ever. Meanwhile, the hotels-to-FMCG conglomerate also increased its stake in Sproutlife Foods.

Over the past three years, Sproutlife's turnover has grown from Rs 680 m in FY22 to Rs 1.1 bn in FY24.

Crest Ventures will also be a top buzzing stock.

Crest Ventures shares skyrocketed 10% in the afternoon session on 26 September after the firm announced it has nine projects in the works.

Out of the nine projects announced, six of the projects have a combined sales expectation of Rs 59.1 bn. This is over two times higher than the market capitalisation of this realty player, which clocks in at Rs 16 bn.

Affordable Robotic and Automation's Mainboard Migration

The company received in-principle approval from the National Stock Exchange of India Limited (NSE) for migration of trading from the SME platform to the Main Board of NSE.

The Vijay Kedia-backed company provides automation solutions across various industries including automotive, general, and government sectors. They design, manufacture, and install robotic welding systems, automated parking solutions, and automated warehousing systems.

As per the latest shareholding data available on the BSE, Kedia owns a 9.9% stake in the company or 11.16 lakh shares.

The company has already received the in-principle approval from the Bombay Stock Exchange of India Limited (BSE) for migration of trading in the equity shares of the company from the SME Platform.

The company provides automation solutions across multiple sectors, including automotive, general industry, and government.

Its offerings encompass the design, manufacturing, and installation of robotic welding systems, automated parking solutions, and automated warehousing systems.

Renowned clients in the automotive sector include Mahindra & Mahindra, Maruti Suzuki, Honda, TVS, Piaggio, Volvo, and Eicher. For car-parking solutions, its clientele includes Lodha, Shreepati Group, Parinee, Marvel, VTP Realty, Dhuleva Group, and Swastik Group.

In FY24, the company posted a 43% year-on-year revenue growth, driven by a robust 59% rise in automation segment revenue.

Godrej Properties' Fundraising Plan

Realty firm Godrej Properties on Thursday said its board will meet on 1 October to consider a proposal to raise funds through the issue of securities.

The company did not disclose the amount it wanted to raise.

The issue of securities could be through public and/or private offerings, including qualified institution placements, preferential issues, rights issues, further public offers or any other permissible method.

Godrej Properties is one of the leading developers in the country. It has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. It has entered into Hyderabad market recently.

In the last fiscal, the company's sales bookings jumped 84% to a record Rs 225.3 bn, the highest among listed realty firms in 2023-24.

It has set a target of achieving Rs 270 bn worth of sales bookings.

Already, Godrej Properties' sales bookings jumped nearly four times to Rs 86.4 bn in the first quarter of this fiscal against Rs 22.5 bn in the year-ago period.

Alkem Laboratories to Acquire Novartis AG's India Unit

Domestic pharmaceutical firm Alkem Labs is in talks to acquire the Indian unit of Novartis AG. The total value of the deal is likely to be around Rs 20 bn.

Other pharma majors including Dr Reddy's and Zydus are also in the race to buy the Indian subsidiary.

Alkem Labs is the country's fifth-largest pharma company, with a dominant position in anti-infectives and gastrointestinal and pain management drugs along with supplements.

As of now, the Mumbai-based company has submitted non-binding bids and advanced discussions are ongoing.

In February this year, the Swiss pharmaceutical major announced a strategic review of its subsidiary and said the publicly listed company is set to undergo an assessment, encompassing various aspects, including Novartis AG's 70.7% shareholding in the Indian entity.

Novartis said it remains "deeply committed to India" with a footprint that has expanded significantly in recent years. Today, Novartis employs more than 8,100 associates in the country.

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

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