Gift Nifty Down 43 Points | HUL & UltraTech Cement Q2 Result | Tata Super App Big Bet | Top Buzzing Stocks Today

Fri, 20 Oct Pre-Open

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On Thursday, Indian share markets managed to recover some losses but still ended the day in negative territory.

Benchmark indices declined today, falling for the second day in a row amid weak trends in global markets and fresh FII outflows.

At the closing bell on Thursday, the BSE Sensex stood lower by 248 points (down 0.4%).

Meanwhile, the NSE Nifty closed lower by 46 points (down 0.2%).

Nestle, UltraTech Cement and IndusInd Bank were among the top gainers.

Wipro, NTPC and Tech Mahindra on the other hand, were among the top losers.

The BSE MidCap index fell 0.1% while the BSE SmallCap index gained 0.1%.

Barring auto and FMCG stocks, all sectoral indices ended in red with stocks in the metal sector and energy sector witnessing most of the selling.

Shares of Bajaj Auto, Crisil and Colgate hit their 52-week high on Thursday.

The rupee was trading at 83.21 against the US$.

Gold prices for the latest contract on MCX were trading down by 0.2% at Rs 59,942 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:55 AM today, the Gift Nifty was trading down by 43 points or 0.2% at 19,513 level.

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

Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah talks about GMDC in his latest video.

GMDC has had a stellar run since its March 2020 lows and is up a whopping 12x since then.

To be honest, the movement in the stock price has caught most investors by surprise.

So, is the euphoria justified? Have the valuations run far ahead of fundamentals?

Find out everything and more in the below video:

Top buzzing stocks today

Nestle share price will be in focus today.

Nestle India today reported a consolidated net profit of Rs 9.1 bn, which is 37% higher compared to last year's Rs 6.6 bn.

The company's revenue from operations stood at Rs 50.4 bn in the quarter under review, up 9.4% YoY.

Dabur will also be a top buzzing stock.

Shares of Dabur fell up to 2.5% yesterday after it was reported that its subsidiaries were among companies sued in the US and Canada by customers alleging that the use of hair relaxer products had caused ovarian cancer, uterine cancer and other health issues.

Ultratech Cement Q2 Profit jumps 68%

UltraTech Cement's net profit rose 68.8% year-on-year (YoY) in the second quarter of 2023-24 to Rs 12.8 bn, driven by increased demand and an uptick in government spending on infrastructure ahead of elections.

The company experienced robust volume growth and its bottom line received a boost from reduced fuel and power costs, despite price increases during the quarter.

The subsidiary of Aditya Birla Group's Grasim Industries reported revenue of Rs 161.8 bn in the quarter ended September 2023, up 15.3% YoY beating estimates. However, revenue and net profit saw sequential declines reflecting the dip in construction work typically seen in the monsoon months.

Going ahead, the company expects to benefit from robust demand.

Despite the monsoon, most cement makers are expected to have clocked strong sales volumes as construction momentum remained strong.

UltraTech Cement stands tall among the Top 5 Cement Companies in India by Growth.

HUL Q2 Results

Hindustan Unilever Ltd (HUL), on 19 October 2023 reported a standalone net profit of Rs 2,717 crore for the September quarter, up 3.8% from the year-ago period.

India's largest FMCG company's revenue rose 3.5% to Rs 150.3 bn from a year ago.

The company's July-September earnings before interest, tax, depreciation and amortisation (EBITDA) were at Rs 36.9 bn, growing 9.4% from a year ago. The EBITDA margin improved by 1.3% YoY to 24.5%.

Ad spend clocked in at Rs 17.2 bn, with the ad spend to sales at 11.4% back above its levels of 7% a year ago, with gross margin savings being reinvested for sales growth. HUL's underlying sales growth for the quarter ended September came in at 4%.

The Lifebuoy maker said the home-care division grew with 3.3% revenue growth. Beauty and personal care increased by 4.5% with broad-based performance across categories. Food and refreshments grew 2.6%, led by foods, coffee and health food drinks (HFD).

The company is fundamentally strong and can ride out any storm. For more, check out the 5 Best Long-Term Companies of 2023.

Tata Super App Big Bet

Salt-to-steel conglomerate Tata Group is planning to invest another US$ 1 bn into its super app venture in a bid to improve its digital business, a report said on Thursday.

This is in addition to the US$ 2 bn fund that Tata Group invested earlier this year.

The additional funding is expected to be channelled into Tata Digital Pvt and aims to propel Tata Neu's operational efficiency and user-friendliness, ensuring a more seamless digital experience.

Tata Digital will receive the new funding in 2024 if the deal is sealed.

The conglomerate has asked the digital unit, which runs its flagship online platform Tata Neu, to streamline its operations and fix glitches in the app to make it more user-friendly.

Tata Group has also urged the super-app venture to explore tapping global sovereign and financial investors for future funding needs.

Tata Group has also urged the super-app venture to explore tapping global sovereign and financial investors for future funding needs.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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