Gift Nifty Trades Flat | Siemens AG To Buy Stake in Siemens | Why Realty Stocks are Rising | Top Buzzing Stocks Today

Thu, 16 Nov Pre-Open

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On Wednesday, Indian share markets gained the momentum as the session progressed and ended on firm footing.

Indian equity benchmarks zoomed in early trade on Wednesday amid a rally in global markets on favourable US inflation data.

At the closing bell on Wednesday, the BSE Sensex stood higher by 742 points (up 1.1%).

Meanwhile, the NSE Nifty closed higher by 265 points (up 1.2%).

Eicher Motors and Infosys were among the top gainers.

Sun Pharma and IndusInd Bank, on the other hand, were among the top losers.

The BSE MidCap index and BSE SmallCap index rose 1%.

Sectoral indices ended on positive note with stocks in the realty sector, auto sector and IT sector witnessing most buying.

Shares of Bajaj Auto and Trent hit their 52-week high on Wednesday.

The rupee was trading at 83.11 against the US$.

Gold prices for the latest contract on MCX were trading 0.5% higher at Rs 60,377 per 10 grams at the time of Indian market closing hours on Wednesday.

At 7:50 AM today, the Gift Nifty was trading 10 points lower at 19,753 level.

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

Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah talks about taking more exposure to stocks right now or waiting for the markets to correct, in his latest video.

Tune in for more.

Top buzzing stocks today

RVNL share price will be in focus today.

Rail Vikas Nigam (RVNL) stock rose nearly 3% in early trade on 15 November as the company received a Letter of Acceptance (LoA) for a project worth Rs 3.1 billion (bn).

Natco Pharma will also be a top buzzing stock.

Shares of Natco Pharma dropped 2% in trade on 15 November due to profit-taking even as the pharma company reported a 550% surge in its Q2 net profit.

Natco Pharma on 14 November reported a 550% surge in its consolidated net profit during the September quarter, primarily due to growth in formulation exports and increased sales in the domestic agrochemical business.

Gland Pharma Receives USFDA Approval

Indian generic injectable-focused pharmaceutical company Gland Pharma received tentative approval from the United States Food and Drug Administration (USFDA) for Angiotensin II Injection, 2.5 mg/mL Single Dose Vial.

Gland Pharma believes that it is the only company and the first to file for this product and may be eligible for 180 days of generic drug exclusivity.

The company will launch the product with its marketing partner on receipt of the final approval.

Angiotensin II is prescribed for increasing blood pressure in adult patients to treat low blood pressure with septic shock or distributive shock.

Earlier, Gland Pharma had reported a 19.6% year-on-year (YoY) fall in consolidated net profit to Rs 1.9 bn for the July-September quarter of the current financial year.

The lock-in period for this company will conclude on 20 November 2023. For more, check out Top 5 Stocks to Watch Out Upon IPO Lock-in Period Expiry.

Why Realty Stocks are rising

Shares of real estate companies continued their northward movement with the Nifty Realty index hitting an over 15-year high of 683.30 in Wednesday's intra-day trade on healthy business outlook.

Nifty Realty index rose 3%, quoting at its highest level since 8 September 2008 today.

In comparison, the Nifty 50 was up 1% at 19,635, reflecting the enthusiasm among builders due to the easing inflation scenario.

This development could potentially lead to a less hawkish stance from the Reserve Bank of India in its upcoming monetary policy meeting.

All 10 constituents of the Nifty Realty Index were in positive territory, with at least five of them recording gains above 2%.

When it comes to real estate stocks, you need to be very careful about the management quality. Poor accounting and lack of corporate governance have been the reason for many large realty companies performing poorly in the past.

Also, a big drag on real estate players is high debt. So you need to check the debt-to-equity ratio. For the top real estate stock, check out the best real estate stocks in India.

Siemens AG To Buy Stake in Siemens

German conglomerate Siemens Aktiengesellschaft (Siemens AG) will acquire an 18% additional stake in Siemens India for 2.1 billion (bn) euros (US$ 2.28 bn), the company announced on Wednesday. With this, the company's total stake in its Indian arm will jump to 69% from 51% earlier.

Siemens Energy's stake will decrease from 24% to 6%.

The purchase price reflects a 15% discount from the 5 trading days volume-weighted average price before the day of signing. Siemens will provide no new guarantees to Siemens Energy.

In 2020, Siemens AG offloaded about 47.7% stake in its India arm, Siemens Ltd. However, Siemens and Siemens Energy did not separate their businesses in India as it was not feasible at that time.

The company also said that it has agreed with Siemens Energy's indirect financial measures totalling one billion euros to allow third parties to arrange guarantees for Siemens Energy.

Firstly, Siemens will allow Siemens Energy to use its 5% shareholding in Siemens Ltd India, worth 750 million euros, as collateral for guarantees. If the collateral is drawn, Siemens has committed to buy up to 5% of shares in Siemens Ltd India for 750 million euros (US$ 815 m).

distributive shock.

India is home to many prominent engineering companies that cater to a wide range of sectors. From infrastructure to automobiles, these companies are known for their innovative solutions and quality services.

To know which companies are driving the country's growth and development, check out the top engineering companies in India.

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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