Why Tata Motors Surged 12%, Paytm IPO Update, and Buzzing Stocks Today

Fri, 8 Oct Pre-Open

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Indian share markets ended on a strong note yesterday.

Benchmark indices witnessed sharp gains as cooled off energy prices ebbed fears of a stagflation in the global economy.

Crude oil prices fell from multi-year highs reached on Wednesday, while US Treasury rates and key currencies remained stable amid the calmer tone.

At the closing bell yesterday, the BSE Sensex stood higher by 488 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 144 points (up 0.8%).

Tata Motors and Titan were among the top gainers.

ONGC and Dr. Reddy's Lab, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.7% and 1.4%, respectively.

Sectoral indices ended on a positive note with stocks in the realty sector, consumer durables sector and auto sector witnessing most of the buying interest.

Oil & gas stocks, on the other hand, witnessed selling pressure.

Shares of Page Industries and Bata India hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 46,851 per 10 grams at the time of closing stock market hours yesterday.

Speaking of the stock market, India's #1 trader Vijay Bhambwani explains what the energy crisis is about, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be Tata Motors.

Shares of Tata Motors soared as much as 10% yesterday on the exchanges on the back of new launches, a potential increase in demand during the festive season and an improvement in the broader outlook.

Its peer Tata Motors DVR also zoomed over 9%.

Tata Motors is seen more as a global luxury play, but the incremental upside could come from its India business.

Market-share wins in India's passenger vehicle (PV) and commercial vehicle (CV) businesses could help boost its numbers. The stock also stands to gain from progress in the EV segment.

In a press release, Tata Motors said,

• The first 10,000 EVs have been led by the early adopters and with this encouragement Tata Motors has built a viable roadmap for the future and is committed to staying on course with making EVs mainstream.

Shares of Tata Motors have doubled in 2021 so far. The scrip has delivered about 160% returns in the last one year, outperforming the benchmark indices.

Tata Power share price will also be in focus today.

Tata Power announced that it has roped in renewable energy artificial intelligence (AI) company BluWave-ai.

India's largest integrated power utility has signed a three-year commercial agreement with BluWave-AI, the world's first renewable energy AI company.

The agreement can be extended up to five years.

This agreement was signed after a successful trial project during which Tata Power evaluated the performance of the BluWave-AI cloud platform to generate intra-day and day-ahead dispatches for use in its power scheduling operations.

Recently, the government put measures in place to mandate accurate energy scheduling and introduced a real-time market to improve onboarding of renewable energy.

As a result, electricity distribution companies now face strict penalties for deviation from planned energy usage, which increases with inaccuracy in power scheduling.

Because of this, Tata Power decided to activate the potential of AI to optimize power scheduling and address the new changes.

The company has deployed a few AI solutions such as the Central Control room for Renewable Assets (CCRA), which uses machine learning based on loss estimation, forecasting and alert/notification.

Paytm in Talks with Sovereign Wealth Funds, Blackrock for IPO Stakes

India's Paytm is in talks with sovereign wealth funds and financial firms to become anchor investors in its upcoming initial public offering (IPO), according to people familiar with the matter.

State-backed wealth investors Abu Dhabi Investment Authority and Singapore's GIC Pte are among those weighing bidding to participate in the IPO.

Global financial firms such as BlackRock Inc. and Nomura Holdings Inc. are also in discussions to bid, according to the sources.

One97 Communications, as Paytm is formally known, is considering seeking a valuation of around US$20 bn to US$22 bn based on initial investor feedback, they said.

There are already more than enough bids to cover the shares allocated for anchor investment in the IPO.

Paytm, backed by SoftBank Group Corp., Berkshire Hathaway Inc. and Jack Ma's Ant Group Co., plans to raise as much as Rs 166 bn from its share sale, according to its draft prospectus.

Indian Government Notifies 100% FDI in Telecom Sector

The Government of India has notified its decision to permit 100% foreign direct investment (FDI) under the automatic route in the telecom services sector.

Till now, only 49% of FDI was allowed through the automatic route and anything beyond it had to mandatorily go through the government route.

This comes over a year after Union government notified changes in the FDI rules in April 2020.

At the time, it said prior approval of the government was required for foreign investments from countries that share a border with India, including Pakistan, China, Bangladesh and Nepal among others.

The Centre has already allowed FDI through automatic routes in many sectors. However, in sectors such as defence, media, pharmaceuticals and insurance, government approval is needed for foreign investors.

All telecom services including infrastructure providers will be covered under the new regime of FDI investments.

The government has infused life into the debt-ridden telecom industry, with a series of reliefs including on computing dues relating to AGR, a four-year moratorium on dues, and the option for the government to convert dues into equity after the moratorium period expires.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

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

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