Gift Nifty Up 11 Points | TCS Partners Asda | Nestle India Mulls Stock Split | Top Buzzing Stocks Today

Thu, 5 Oct Pre-Open

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On Wednesday, Indian share markets continued the downtrend as the session progressed and ended the day lower.

Equity markets roiled under heavy selling pressure on Wednesday as US Treasury yields hit fresh 16-year highs overnight, triggering risk averse sentiment. The benchmarks, however, ended off lows amid buying in IT and FMCG stocks.

At the closing bell on Wednesday, the BSE Sensex stood lower by 286 points (down 0.4%).

Meanwhile, the NSE Nifty closed down by 93 points (down 0.5%).

Nestle India and HUL were among the top gainers.

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

Broader markets ended on a negative note. The BSE Midcap index ended 1.5% lower and the BSE SmallCap index fell 1%.

Sectoral indices ended on a mixed note with stocks in the FMCG sector and IT sector witnessed buying. Meanwhile, stocks in the metal sector and realty sector witnessed selling pressure.

Shares of Bajaj Finance and PCBL hit their 52-week high on Wednesday.

The rupee was trading at 83.24 against the US$.

Gold prices for the latest contract on MCX were trading down by 0.2% at Rs 56,843per 10 grams at the time of Indian market closing hours on Wednesday.

At 7:,50 AM today, the Gift Nifty was trading down by 11 points at 19,494 level.

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

Speaking of stock markets, 5% seems to be the inflection point at which most technologies get ready for mass adoption.

The time it takes to get to that level varies widely by country. But once the universal challenges of car costs, charger availability and driver skepticism are solved for the few, the masses soon follow.

According to a Bloomberg analysis, in 2022, 19 countries had passed what's become a critical EV tipping point. Since then, five more countries have made the leap.

India is the third largest auto market after China and the US. EVs made up 3% of new car sales in the country in the June quarter of 2023, after doubling in just six months.

So, according to Research analyst, Tanushree Banerjee, the country seems to be at a tipping point for EV adoption.

Top buzzing stocks today

L&T share price will be in focus today.

L&T announced on Wednesday that its Power Transmission and distribution business has secured an Engineering, Procurement, and Construction (EPC) order from West Bengal Power Development Corporation.

IndusInd Bank will also be a top buzzing stock.

IndusInd Bank has launched 'INDIE', a mobile banking app designed for customers seeking personalised digital banking experience. 'INDIE' utilises analytics to offer tailored financial insights.

TCS Inks Multi-Year Partnership Asda

Tata Consultancy Services (TCS) has entered into a multi-year partnership with British retail giant Asda to facilitate its digital transformation and IT model following its separation from Walmart.

The collaboration will use TCS' cloud, AI, and security solutions to aid Asda's smooth and secure divestiture, enhance customer experience, and drive innovation for market share growth and price leadership.

TCS to create a new digital core for Asda by integrating cloud-based ERP platforms, enhancing supply chain, HR, warehouse, and e-commerce processes.

They'll also automate IT operations using the Machine First™ Delivery Model to improve employee and customer experiences and operational resilience.

Established in 1949 in Yorkshire, Asda Stores has faced financial challenges over the years, including being acquired by Walmart in 1999 and later by British-Indian billionaires Mohsin Issa and Zuber Issa in 2021.

In February this year, Asda partnered with Publicis Sapient for its e-grocery business.

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.

Nestle India's First-Ever Stock Split

Nestle India has informed exchanges that its board of directors will consider a split of its existing equity shares on 19 October 2023, along with the announcement of its September quarter results.

If the proposal is approved, it will be Nestle India's first-ever stock split. The FMCG major has not announced any stock split or bonus issue in its history.

On October 19, the company will also declare a second interim dividend for the year 2023, if any. The second interim dividend for the year 2023, in case declared, shall be paid on and from 16th November 2023.

Including an interim and a final dividend, Nestle India paid Rs 98 to shareholders in April this year.

The highest dividend it has paid in recent times is Rs 180, which it paid in August of 2019.

Nestle India is the India unit of Nestle S.A. and is involved in the manufacturing of branded milk products and other food products. It is also known for manufacturing Maggi noodles, soups and sauces.

Being an established player in milk and nutrition products, chocolates and confectionary, Nestle India stands among the top FMCG stocks in India.

With a history of paying frequent dividends since 1997, Nestle India is also one of the Top 3 stocks paying big quarterly dividends.

Why APL Apollo Share Price Is Falling

APL Apollo Tubes shares were trading lower on 4 October afternoon despite the company clocking its highest quarterly sales volume in the September 2023 quarter.

In a business update, the company said it saw a 12% growth in sales volume at 6.74 lakh tonne in the second quarter from the year-ago period.

APL's Raipur plant, with a capacity of 1.2 million tonnes per annum is one of the world's largest single-site pipe and tubes facility.

APL Apollo manufactures steel pipes and tubes. Its products are utilized in the construction, infrastructure, agriculture, and automotive sectors.

With low debt and solid return on Equity (ROE) APL Apollo Tubes is top steel companies in India.

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

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