Bharti Airtel's 5G Trials, JSW Energy's Green & Grey Businesses, and Buzzing Stocks Today

Fri, 26 Nov Pre-Open

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Indian share markets ended on a positive note yesterday.

Benchmark indices edged higher on the back of consistent buying support in index heavyweights Reliance, ITC and Infosys.

At the closing bell yesterday, the BSE Sensex stood higher by 454 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 121 points (up 0.7%).

Reliance Industries and Divi's Laboratories were among the top gainers.

Maruti Suzuki and Britannia Industries, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.7% and 0.9%, respectively.

Sectoral indices ended on a positive note with stocks in the realty sector, healthcare sector and telecom sector witnessing most of the buying interest.

Capital goods and auto stocks, on the other hand, witnessed selling pressure.

Shares of Raymond and TCI Express hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading up by 0.2% at Rs 47,542 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, Brijesh Bhatia shares the sector to avoid in 2022, in his latest video for Fast Profits Daily.

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Top Stocks in Focus Today

Among the buzzing stocks today will be ITC.

Shares of ITC gained over 1.7% yesterday after the FMCG major said that it has initiated clinical trials for developing a nasal spray for Covid-19 prevention. The company plans to market the nasal spray under the 'Savlon' brand.

However, the ITC spokesperson declined to comment on where the clinical trial is being done, from where the commercial production would be done when approved and under what brand the nasal spray would be marketed.

ITC had received approvals from ethics committees and is registered with clinical trial registry-India (CTRI) for clinical trials of the nasal spray which is designed to arrest the virus at the entry point in the nasal cavity itself.

Developed by scientists at ITC Life Sciences and Technology Centre (LSTC), Bengaluru, sources say the product has the potential to be effective and safe in preventing infection and transmission of Covid-19 along with the existing measures of hygiene recommended by health authorities.

ITC's LSTC has been at the core of the company's drive for science-led product innovation to support and build its wide range of product portfolio.

The company's research and development (R&D) teams were instrumental in developing a range of innovative health and hygiene offerings that were commercially made available under the Savlon brand, during the pandemic.

JSW Energy share price will also be in focus today.

JSW Energy said its board has approved the reorganisation of the company's renewable and thermal businesses.

All existing and upcoming renewable energy businesses will be housed under JSW Energy Neo, a wholly owned subsidiary of the company, it said in a statement.

This is in line with the announcement made by the company on 30 July that the board had approved the evaluation of re-organisation of these businesses, it added.

This move will help the company in building and streamlining its renewable portfolio and setting up a holding structure that will be efficient for fund-raising and unlocking value for shareholders.

Prashant Jain, joint managing director and CEO of JSW Energy, said,

• JSW Energy has laid out a growth plan to reach 20 GW (gigawatts) of power generation capacity by 2030, with about 85% of this capacity via renewable energy.
  
  With our healthy balance sheet and proven project execution expertise, we are one of the best positioned companies in the sector to undertake robust growth plans in the renewable energy space.
  
  Given our plans, we are strategically re-organising our company to more effectively support our growth strategy and to help unlock value for shareholders.

At present, JSW Energy has 4,559 megawatts (MW) of installed capacity across thermal (3,158 MW), and hydro & solar (1,401 MW).

The company has laid out a growth plan to reach 20-gigawatt (GW) capacity by 2030, with the share of renewable energy in the portfolio increasing to 85%, up from 30% currently.

JSW Neo Energy will be the vehicle for JSW Energy to drive the company's growth plans in renewable energy - across generation, energy storage and green hydrogen.

Bharti Airtel Conducts India's first 5G Trial in the 700 MHz Band with Nokia

Bharti Airtel announced that it has successfully conducted India's first 5G trial in the 700 MHz band in partnership with Nokia. It was conducted on the outskirts of Kolkata and it was also the first 5G trial in eastern India.

Leveraging the enhanced propagation characteristics of the 700 MHz band, Airtel and Nokia were able to achieve high speed wireless broadband network coverage of 40 Km between two 3rd generation partnership project (3GPP) standard 5G sites in real life conditions.

Airtel has been allotted test spectrum in multiple bands by the department of telecommunications for the validation of 5G technology and use cases.

Airtel used equipment from Nokia's 5G portfolio, which included NokiaAirScale radios and standalone (SA) core.

Bharti Airtel CTO Randeep Singh Sekhon said,

• Back in 2012, Airtel launched India's first 4G service in Kolkata. We are delighted conduct India's first 5G demo in the coveted 700 MHz band in the city to showcase the power of this technology standard.
  
  We believe that with the right pricing of 5G spectrum in the upcoming auctions, India can unlock the digital dividend and build a truly connected society with broadband for all.

Earlier this year Airtel demonstrated India's first 5G experience over a live 4G network. It also demonstrated India's first rural 5G trial as well as the first cloud gaming experience on 5G.

As part of #5GforBusiness, Airtel has joined forces with leading global consulting and technology companies and brands to test 5G based solutions.

Reliance Industries Rallies 6% as Firm to Restructure, Repurpose Gasification Assets

Reliance Industries (RIL) shares surged than 6% yesterday after its board decided to implement a scheme of arrangement to transfer Gasification Undertaking into a wholly-owned subsidiary.

It has decided to implement a scheme of arrangement between Reliance and its shareholders and creditors; and Reliance Syngas (RSL) and its shareholders and creditors.

RSL is a wholly-owned subsidiary of Reliance. It has invested Rs 1 m in cash in 1 lakh equity shares of Rs 10 each of RSL.

The gasification project at Jamnagar was set up with the objective to produce syngas to meet the energy requirements as refinery off-gases, which earlier served as fuel, were repurposed into feedstock for the refinery off gas cracker (ROGC).

This enables production of olefins at competitive capital and operating costs. Syngas as a fuel ensures reliability of supply and helps reduce volatility in energy costs. Syngas is also used to produce Hydrogen for consumption in the Jamnagar refinery.

Reliance mentioned that the appointed date of the scheme would be 31 March 2022 or such other date as may be determined by the board.

The scheme will require approval of stock exchanges, creditors, shareholders, NCLT and other regulatory authorities.

Earlier this week, the Reliance stock had plunged as much as 4.2% on Monday as the country's largest firm decided to halt a stake sale in its oil-to-chemicals business (O2C) to Saudi Arabia's Aramco and pulled back from a potential spinoff of its most profitable unit.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

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

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