Gift Nifty Down 11 Points | Reliance & Nvidia Forge AI Partnership | Tata Communications Launches AI Infrastructure | Top Buzzing Stocks Today

Fri, 25 Oct Pre-Open

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Benchmark equity indices BSE Sensex and NSE Nifty50 ended Thursday's trading session on a flat note, biased towards negative.

At the closing bell on Thursday, the BSE Sensex stood lower by 16 points.

Meanwhile, the NSE Nifty closed lower by 36 points (down 0.2%).

M&M, Titan and Shriram Finance were among the top gainers.

HUL, Nestle and Hindalco 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 marginally lower and BSE SmallCap index ended 0.7% lower.

Sectoral indices were trading mixed today with socks in power sector and banking sector witnessing buying. Meanwhile stocks in realty sector and auto sector witnessing selling pressure.

Gold prices for the latest contract on MCX were trading 0.7% higher at Rs 78,345 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:50 AM today, the Gift Nifty was trading 11 points lower at 24,451 levels.

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

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Top buzzing stocks today

TCS share price will be in focus today.

Tata Consultancy Services has launched a new Nvidia business unit to speed up the industry-wide adoption of artificial intelligence by its customers.

The new unit will help enterprises leverage insights from TCS' global centres of excellence and NVIDIA's AI platform to offer industry-specific solutions in manufacturing, BFSI, telecom, retail, and automotive businesses.

ACC will also be a top buzzing stock.

Adani Group's cement unit ACC on 24 October reported a 49% fall in its consolidated net profit at Rs 2 bn in the September 2024 quarter, amid near-decade-low prices and continued demand inertia from multiple sectors.

The cement maker had reported a net profit of Rs 3.9 bn during the July-September period of the preceding 2023-24 fiscal.

Reliance, Nvidia Forge AI Partnership

Chip behemoth Nvidia CEO Jensen Huang on 24 October said Reliance Industries and Nvidia are partnering to build artificial intelligence (AI) infrastructure in India.

Huang expressed that the partnership presents an excellent opportunity for India, given its large population and significant number of computer engineers. He conveyed his honor and privilege in collaborating with Mukesh Ambani.

During their conversation in Mumbai, Ambani highlighted that India, apart from the US and China, possesses one of the best digital connectivity infrastructures.

Huang also mentioned that by the end of the year, India is expected to see nearly 20 times more computing capacity than it had just over a year ago, emphasizing the rapid advancements in computing infrastructure.

Ambani emphasized the expectation that Nvidia will deliver high-quality AI infrastructure, similar to the way Jio transformed the telecom sector.

In September last year, Reliance and Nvidia vowed to develop AI supercomputers in India and build large language models trained on its languages.

Huang described the current state of the industry as undergoing a "seismic change" due to AI advancements and suggested that India, which has traditionally been a hub for software exportation, is poised to become a leader in AI exportation in the future.

Tata Communications Launches AI Infrastructure

Tata Communications on 24 October unveiled AI infra with NVIDIA-accelerated computing.

As part of the initiative, Tata Communications will integrate cutting-edge NVIDIA software solutions such as NVIDIA NIM microservices, and the NVIDIA Omniverse and NVIDIA Isaac platforms, into its AI Cloud offerings.

At the end of this year, Tata Communications will begin the first phase of its large-scale deployment of Hopper GPUs, establishing itself as one of the largest NVIDIA Hopper GPU cloud-based supercomputers in India.

The second phase, planned for 2025, will further expand the infrastructure with Blackwell GPUs.

The collaboration marks a significant milestone in the country's AI journey, positioning Tata Communications as a key player in enabling AI applications across a wide spectrum of industries - including manufacturing, healthcare, retail, and banking and financial services - and equipping them with the computing power needed to handle complex AI workloads.

Tata Communications is an Indian telecommunications company. The company is part of the Tata group.

Adani Wilmar Returns to Profit

Adani Wilmar Ltd on Thursday returned to black with a consolidated profit of Rs 3.1 bn in the September 2024 quarter of the current fiscal. The edible oil major had reported a loss of Rs 1.3 bn in the July-September quarter of the preceding 2023-24 fiscal.

The revenue of the company was up 18% at Rs 144.6 bn against Rs 122.7 on-year.

The total income of the company increased to Rs 145.7 bn in the reporting period from Rs 123.3 bn a year ago, while the total expenses of the company increased to Rs 141.6 bn from Rs 124.4 bn in the same period a year ago.

The EBITDA was reported at Rs 5.7 bn against Rs 1.4 bn year-on-year, while the margin was reported at 3.9% against 1.2% on-year.

Adani Wilmar is one of the largest fast-moving consumer goods (FMCG) companies in the country.

Its products include edible oil, wheat flour, rice, pulses, and sugar.

The company has products in three broad categories - edible oil, packaged goods and FMCG, and industrial essentials. The majority of its revenue comes from the edible oil segment, followed by industry essentials, and packaged goods.

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

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