Sensex Today Trades Higher | Hindalco Jumps 3% | Tata Steel & JSW Steel Top Gainers

Wed, 25 Oct 10:30 am

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Asian shares are trading higher on Wednesday as investors cheered the approval of a trillion-yuan sovereign bond issue as a harbinger of stimulus, while the Aussie dollar hit a two-week high as hotter-than-expected inflation lifted rate forecasts.

The MSCI's rose 0.9%, Nikkei index was up 1.1% and Hang Seng was trading 2% higher.

US stock market indices ended higher on Tuesday as investor risk appetite improved amid strong corporate earnings and upbeat forecasts.

Here's a table showing how US stocks performed on Tuesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	140.12	2.22	1.61%	140.71	138.75	142.38	83.45
Apple	173.44	0.44	0.25%	173.67	171.45	198.23	124.17
Meta	312.55	-1.46	-0.46%	318.35	310.63	330.54	88.09
Tesla	216.52	4.44	2.09%	222.05	214.11	299.29	101.81
Netflix	413.73	6.89	1.69%	416.69	408.39	485	252.09
Amazon	128.56	2.00	1.58%	128.8	126.34	145.86	81.43
Microsoft	330.53	1.21	0.37%	331.84	327.6	366.78	213.43
Dow Jones	33,141.38	204.97	0.62%	33,272.19	32,988.43	35,679.13	31,161.41
Nasdaq	14,745.86	141	0.97%	14,774.16	14,610.33	15,932.05	10,632.39

Source: Equitymaster

Back home, Indian share markets are trading on a positive note.

At present, the BSE Sensex is trading up by 150 points. Meanwhile, the NSE Nifty is trading 38 points higher.

Hindalco and Tata Steel are among the top gainers today.

NTPC and Infosys on the other hand are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is trading 0.3% higher, and the BSE Small Cap index is trading 0.5% higher.

Sectoral indices are trading mixed with stocks in the metal sector and FMCG sector witnessing buying. Meanwhile, the realty sector and healthcare sector are witnessing selling pressure.

The rupee is trading at Rs 83.12 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 60,534 per 10 grams today.

Meanwhile, silver prices are trading 0.2% lower at Rs 71,680 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, what do you feel about buying a stock that's trading at a PE multiple of 85x?

Well, for value conscious investors like Co-head of Research at Equitymaster, Rahul Shah, who believe in following rules and having strict upper limits for valuations, I will simply give the stock a pass.

A PE of 85x is quite high and does not offer margin of safety of any kind.

However, there are a few exceptions to this rule. Is the fertiliser company FACT one such exception? Or is the stock price in a bubble?

Find out more in the below video:

ONGC acquires PTC's Wind Power Unit

Oil and Natural Gas Corporation (ONGC) has won a bid to acquire PTC India's wind power unit for Rs 925 crore as the state-owned firm continues to build a renewable energy portfolio to balance its fossil fuel business.

The company has over the years diversified into the petrochemicals and power business besides growing its core business of finding hydrocarbons.

It has taken various initiatives for renewable energy power generation and already has 189 megawatts (MW) capacity, including wind and solar PV plants spread across various locations.

With a vision to expand its business in renewable energy, the company participated in the bidding process for the acquisition of a 100% equity stake in PTC Energy Limited (PEL), a wholly-owned subsidiary of PTC India.

The PTC board last week approved ONGC's bid for the acquisition of a 100% equity stake in PEL at an equity value of Rs 9.3 bn.

ONGC has previously announced an investment of about Rs 2 lakh crore to achieve zero carbon emissions by 2038.

The firm will invest Rs 1 trillion (tn) by 2030 in setting up 10 gigawatts of renewable energy capacity, a green ammonia plant, and offshore wind energy projects. For more check out, ONGC's Rs 2 Trillion Investment to Reduce Carbon Emissions. 5 Things to Know...

Also, to know what is driving ONGC's recent outperformance, check out Is ONGC Share Price Poised for a Comeback?

Adani Ports Incorporates Aircraft Leasing Unit

Adani Ports and Special Economic Zone Ltd (APSEZL) on Monday incorporated a wholly-owned aircraft leasing unit, Udanvat Leasing IFSC.

The entity will have an authorised and paid-up share capital of Rs 25 m. Udanvat has been incorporated to carry out the business activity of owning and leasing aircraft.

Udanvat Leasing IFSC Ltd has been incorporated with an authorised and paid-up share capital of Rs 2,50,00,000 divided into 25,00,000 equity shares of Rs 10 each.

Last month, Tata Group-owned Air India also announced setting up an aircraft leasing unit at IFSC (International Financial Services Centre) Gift City while budget carrier IndiGo also plans to establish a shop at IFSC Gift City.

Aircraft leasing firms that commence operations from the IFSC in Gujarat International Finance Tec-City (GIFT-City) are entitled to certain exemptions and benefits.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analyses on one screen.

Dig deeper into Adani group stocks.

TCS To Revise Staffing Firms' Rates

Tata Consultancy Services (TCS) is revising the rates it pays to about 1,000 staffing firms for every engineer deployed, the first such revision by India's largest information technology (IT) services company in the past six years.

The Mumbai-based company communicated to the staffing firms last month that the new pricing structure for engineers, depending on the skill sets, will be effective from January, according to two executives privy to the development.

The company's rate card includes candidate placement costs, including compensation, vendor costs, and insurance, among other expenses. Introducing a new pricing structure aims to boost transparency and could benefit both staffing firms and TCS.

The ability to hire temporary workers plays a vital role in managing profitability at IT services firms, including TCS, which ended with US$ 27.9 bn in revenue and an industry-leading operating margin of 24.1% in the year ended 31 March 2023.

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.

With strong fundamentals, it stands among the 5 best long-term companies of 2023.

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers