SGX Nifty Down 160 Points, NITI Aayog's EV Financing Push, Adani Group's Massive Investment on New Energy, and Top Buzzing Stocks Today

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On Tuesday, Indian share markets swung between gains and losses throughout the session to end on a flat note.

In a day marred with high volatility and wild swings, benchmark indices ended the day flat with a marginal slip led by consumer goods companies.

Subdued global markets kept gains in check. Losses in auto stocks and metal stocks were offset by gains in the financial and FMCG sector stocks

At the closing bell on Tuesday, the BSE Sensex stood lower by 38 points (down 0.1%).

Meanwhile, the NSE Nifty closed down by 9 points (down 0.1%).

Cipla, Tata Consumer, and Shree Cements were among the top gainers.

Hero MotoCorp, Adani Ports, and Tata Steel, on the other hand, were among the top losers.

The broader markets ended on a positive note. The BSE Mid Cap index ended flat, while the BSE Small Cap index ended higher by 0.5%.

Sectoral indices ended on a mixed note, with stocks in the oil & gas sector, FMCG sector, and telecom sector witnessing most of the buying.

On the other hand, stocks in the auto sector, power sector, and banking sector witnessed selling pressure.

Shares of Cipla and Captain Pipes hit their 52-week high on Tuesday.

The rupee was trading at 81.5 against the USUS$ on Tuesday.

Gold prices for the latest contract on MCX were trading up by 0.3% at Rs 49,150 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:45 AM today, the SGX Nifty was trading down by 160 points, or 1% lower at 16,875 levels.

Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty.

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below.

Top Buzzing Stocks Today

Shakti Pumps will be among the top buzzing stocks today.

The company received a receipt of advance worth TmUS$6 m from the Export-Import Bank of India (EXIM bank) on behalf of the Government of Uganda, represented by the Ministry of Water and Environment for supplying a solar-powered water pumping system.

The company will begin the project execution in October 2022.

HFCL's share price will also be in focus today.

HFCL on Tuesday, announced the establishment of a state-of-the-art Polymer Compounding facility as backward integration at its Hosur plant in Tamil Nadu for manufacturing of Polyolefin based compounds of various grades and colors which are required as raw material for the manufacturing of Optical Fiber Cables.

Market participants will also track shares of Bharat Gears.

Bharat Gears shares jumped 20% on Tuesday after the auto ancillary company turned ex-date of 1:2 bonus issue.

Adani Group to boost India's energy space

Adani Group will invest US$ 100 bn over the next decade, primarily in new energy and digital space that includes data centers. This will make India a net-energy exporter.

The group has earmarked 70% of its new investments for energy transition space and infrastructure.

The ports-to-energy conglomerate will add 45 gigawatts of hybrid renewable power generation capacity and build 3 Giga factories to manufacture solar panels, wind turbines and hydrogen electrolysers.

The group is in the process of building a 10 GW silicon-based photo-voltaic value chain that will be backwards integrated from raw silicon to solar panels, a 10 GW integrated wind-turbine manufacturing facility, and a 5 GW Hydrogen electrolyser factory.

Further, the digital transformation sector consumes more energy than any other industry in the world. Due to this company is on the move to build green data centers.

The company will interconnect these data centers through a series of terrestrial and globally linked undersea cables drawn at our ports and build consumer-based super-apps that will bring the hundreds of millions of Adani's B2C consumers on one common digital platform.

So far in 2022, some of the Adani group stocks have given  HYPERLINK "https://www.equitymaster.com/timeless-reading/33/pick-the-best-multibagger-stocks-in-2022" \t "_blank" multibagger returns. All these stocks have given a consistent rising performance.

GPT Infraprojects Bonus Issue

GTP Infraprojects ha has announced the bonus issue in a 1:1 ratio. This means investors will get one share for every one share held by them.

The record date for the bonus issue will be fixed by the board in due course.

The said bonus shares would be credited within 2 months from the date of board approval i.e. by 26 November 2022.

GPT Infraprojects is the flagship company of GPT Group and is a premier infrastructure company

The company operates through two business divisions infrastructure and sleepers. The company is engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways.

NITI Aayog's EV Push

A US$1 bn fund may soon be launched by the government in collaboration with the World Bank, and the Small Industries Development Bank of India (SIDBI). The fund will be used to provide guarantees against defaults on loans taken to buy electric two or three-wheelers.

The NITI Aayog will be the facilitating agency of the project. It will aim to facilitate faster and easier financing of EVs.

The instrument would act as a hedging mechanism, for banks to access in case of defaults of loans on purchase of the electric vehicle. This is expected to bring down the cost of financing EVs by 10-12%.

Currently, loans for electric two-wheelers and three-wheelers attract 20-25 per cent interest per annum.

Earlier, the State Bank of India (SBI) was the program lead. However, it withdrew from the deal after due diligence.

Banks have continued to stay cautious about financing EVs after losing money on e-rickshaws and other EVs powered by lead-acid batteries. Even as banks have maintained their distance from financing such vehicles, several NBFCs have come forward to take the role.

In FY23, EV sales in India are expected to cross a million units, an 84% rise year-on-year.

India to Ramp Up Grid-Scale Batteries

India's power ministry is proposing a nearly US$2.5 bn incentive plan to encourage domestic manufacturing of grid-scale batteries, aiming at bringing down the cost of energy storage to speed up its energy transition.

There are early-stage discussions in the government about offering incentives to manufacturers for batteries they produce over a certain time. The total payout could be in the realm of 200 bn rupees.

Worried over rival China's dominance in lithium, the nation is in talks with countries, including Australia, to secure supplies of the battery metal. India also plans to promote other battery technologies.

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

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