Gift Nifty Up 167 Points | Gensol Engineering Secures Solar Project | HCC's New Order Win | Top Buzzing Stocks Today

Tue, 15 Oct Pre-Open

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

The benchmark equity indices, BSE Sensex, and NSE Nifty50 ended the week's first trading session in positive territory, riding on the back of heavy buying across banks, IT, and financial services stocks.

At the closing bell on Friday, the BSE Sensex stood higher by 591 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 163 points (up 0.7%).

Wipro, Tech Mahindra and HDFC Bank were among the top gainers.

ONGC, Tata Steel and Adani Enterprises 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 0.3% higher and BSE SmallCap index ended marginally higher.

Barring metal sector and oil & gas sector, all other sectoral indices were trading positive with socks in realty sector, IT sector and banking sector witnessing most buying speer.

Gold prices for the latest contract on MCX were marginally lower at Rs 76,234 per 10 grams at the time of Indian market closing hours on Friday.

At 7:41 AM today, the Gift Nifty was trading 167 points higher at 25,240 levels.

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

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Top buzzing stocks today

Premier Energies share price will be in focus today.

Shares of Premier Energies gained as much as 10% on 14 October after the company's subsidiaries Premier Energies International Private Ltd and Premier Energies Photovoltaic Private Ltd - secured multiple orders, cumulatively worth Rs 7.7 bn.

This includes Rs 6.3 bn orders for solar modules and orders worth Rs 1.3 bn for solar cells. The electrical equipment maker added that the supply of these modules and cells is scheduled to commence in July 2025.

Hathway Cable will also be a top buzzing stock.

Shares of Hathway Cable & Datacom jumped over 3% on 14 October after the cable television distribution company reported strong earnings for the September 2024 quarter.

Hathway Cable & Datacom is one of the largest multiple-system operator (MSO) and cable broadband service providers in India.

Gensol Engineering Secures Solar Project

Gensol Engineering on Monday announced that it has secured a contract win of 23MWp for a rooftop solar project in Dubai worth Rs 1.9 bn.

The turnkey project encompasses the design, procurement of materials, construction, testing, commissioning, and long-term operation and maintenance of rooftop solar PV systems.

These systems aim to provide a sustainable energy solution for the client, playing a vital role in Dubai's ambitious sustainability goals and helping to reduce the carbon footprint of a key industrial facility in the region.

With a total installed capacity of 23,178 kWp (23 MWp), this initiative reflects Gensol Engineering's dedication to advancing sustainability in the Middle East and supporting the region's transition to cleaner energy sources.

Valued at AED 81.6 m (Rs 1.1 bn) plus taxes, the project is scheduled for completion over a 20-month period.

The market capitalisation of Gensol Engineering stood at Rs 31.9 bn, according to BSE. The company falls under the BSE SmallCap category.

Gensol Engineering, primarily known as a solar EPC company, has built an impressive engineering portfolio of 33,956 MW, firmly establishing itself as a key player in the solar industry.

HCC's New Order Win

Hindustan Construction Company (HCC) on Monday announced it has been awarded a Rs 10.3 bn contract by Maharashtra State Road Development Corp.

The contract is for the construction of a two-lane bridge across Agardanda Creek in Raigad District on Revas-Reddi Coastal Highway (MSH-04) in Maharashtra on an engineering procurement and construction (EPC) mode.

The total length of the bridge is 4.3 km, consisting of approaches of 45 m on the Agardanda side, 145 m on the Dig hi side, and the main Bridge of 4,120 metre. The bridge is located on the offshore side of Agardanda Jetty and Dighi Port.

This latest win by HCC is yet another contribution by the company to Maharashtra's infrastructure landscape.

HCC is an Indian multinational engineering and construction company, headquartered in Mumbai, Maharashtra, and founded by industrialist Seth Walchand Hirachand in 1926.

The company has a total market capitalisation of Rs 74.3 bn.

Its shares are trading at a price-to-earnings multiple of 38.93 times at an earning per share of Rs 1.09.

Bajaj Housing Finance Shares Decline 6%. Here's Why

Moving on to news from the finance sector, Bajaj Housing Finance's share price dropped over 6% on 14 October as its one-month lock-in period expired for the anchor investors.

As the lock-in period has ended, as many as 126 m shares or 2% of the company's outstanding equity will be eligible for trading.

On 12 December, Bajaj Housing Finance's three-month lock-in period will expire, and an additional 126 m shares, or 2% of the outstanding stock, will be available for trading.

The stock was listed at a robust premium of 114% at Rs 150. The Rs 65.6 bn initial public offer (IPO) of Bajaj Housing Finance received an overwhelming response last week, with subscriptions totalling a whopping Rs 3.2 tn.

Bajaj Housing Finance will declare its quarterly results on 21 October. This will be the first quarterly earnings report of the company post-listing on the bourses.

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

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