Sensex Ends Above 61,000-Mark, Nifty Tops 18,300; Adani Ports, Wipro & Grasim Rally 5%

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Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

After opening firmly at record highs, benchmark indices continued to rally for the sixth straight session.

The early half of the day saw IT stocks spearheading the rally with Infosys and Wipro leading charge. Meanwhile, the second half saw banking and metal stocks adding to gains.

At the closing bell, the BSE Sensex stood higher by 569 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 177 points (up 1%).

ITC and HDFC Bank were among the top gainers today.

TCS and HCL Tech, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,360, up by 186 points, at the time of writing.

Both, the BSE MidCap index and the BSE SmallCap index ended higher by 0.5%.

Barring automobile, all sectoral indices ended on a positive note with stocks in the banking sector and metal sector witnessing most of the buying.

Shares of HLE Glascoat and Info Edge hit their respective 52-week highs today.

Asian stock markets ended higher today as investors reckoned on inflation bringing forward rate hikes around the world.

The Shanghai Composite ended on a flat note while the Nikkei closed higher by 1.5%. Hong Kong markets were closed for a holiday.

European stock markets extended gains, boosted by technology and mining stocks, on expectations of a strong earnings season even as investors fretted over higher inflation crimping an economic recovery.

US stock futures are trading on a positive note today with the Dow Futures trading up by 208 points.

The rupee is trading at 75.24 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 47,980 per 10 grams.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani, talks about market linked debentures (MLDs) and why you should consider investing in them, in his latest video for Fast Profits Daily.

In news from the electric vehicles (EV) space, according to data from the Central Electricity Authority of India, nearly 80% of India's coal-fired plants were in the critical stage with stocks that may last less than five days.

The shortage is a result of high demand for electricity which has created a demand supply mismatch. In turn, the question that has emerged is whether the power sector has the capacity to add automobiles to its list of consumers.

Even when EVs become mainstream, the demand for power would only be a fraction of the country's overall capacity.

Note that the shortage comes even after production of coal is at record levels.

Coal India produced nearly 250 m tonnes in the first half of this fiscal, nearly 6% more than last year.

Currently, India has an installed power capacity of 382 Gigawatt (GW) of which thermal power accounts for 234 GW. There is at least 27 GW of fresh thermal power capacity on the anvil in the next 5-6 years.

According to a 2019 report, even in an optimistic scenario of 100% EV sales by 2030, electricity demand from the sector would be to the tune of 97 terawatt-hour (TWh).

In a more realistic scenario where EVs would account for 33% of overall sales, electricity demand would be 37 TWh.

As per an article in The Economic Times, the widespread use of EVs would put a different kind of pressure on the national grid with varying and more intense peaks.

In other news from the EV space, businesses in India are seeking government support to meet a target for at least 65% of all new vehicle sales to be electric by 2030.

More than 25 companies including automakers M&M and Volvo, oil giant Shell, and clean mobility startups, want India to set firm targets and frame policies to support the transition to EVs, the World Business Council for Sustainable Development (WBCSD) said today.

We will keep you updated on the latest developments from this space. Stay tuned.

Speaking of EVs, have a look at the chart below which shows the massive opportunity in the two-wheeler EVs.

Here's what lead Smallcap Analyst at Equitymaster, Richa Agarwal wrote about this in a recent edition of Profit Hunter:

• In the last five years, two-wheeler sales in India were around 2 crore units per year. Now the sector is cyclical and has been in the downturn for some time. So let's consider a moderate 5% growth for the next 10 years.
  
  By 2030, we are looking at 2-wheeler sales of 3 crore units. Even if one third of this is EV sales, that's 1 crore electric 2-wheelers per year.
  
  In the last 2 years, average electric 2-wheeler sales were 1.5 lakh units. From 1.5 lakh to 1 crore, that's a 66x opportunity in 2-wheeler EVs.
  
  This is an annual growth rate of 52% over next 10 years. It's an almost vertical growth opportunity.

As per Richa, this is like a gold rush. But like in any gold rush, the winners will just be a few.

Moving on to stock specific news...

Maruti Suzuki was among the top buzzing stocks today.

Maruti Suzuki has disbursed about 100,000 loans valued at Rs 65 bn in the past four months through Maruti Suzuki Smart Finance, an online platform offering real-time car finance service facility to buyers.

Shashank Srivastava, senior executive director at Maruti Suzuki, said the company has seen a rapid increase in the number of consumers availing financing solutions through the platform in fiscal 2022.

For this service, India's largest carmaker has partnered 15 financiers including HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance and Kotak Mahindra Prime.

The platform is likely to replace traditional financing service channels for Maruti Suzuki's customers.

As many as 116,000 loans have been sanctioned and 100,000 loans disbursed through the platform in the past few months.

The penetration of loans disbursed through the platform stands at 28% currently, up from 5% in the last financial year.

Nearly 80% of customers at Maruti Suzuki avail of financing solutions while purchasing a vehicle.

The Smart Finance platform was launched for NEXA customers across 30 cities in December last year, and later extended nationally to include consumers purchasing vehicles across the entire NEXA and Arena sales channels from April 2021.

Maruti Suzuki share price ended the day up by 0.2%.

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

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