SGX Nifty Down 68 Points | Dharmaj Crop Guard IPO | How Bharti Airtel is Planning for 5G Era | Top Buzzing Stocks Today

Mon, 28 Nov Pre-Open

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On Friday last week, Indian share markets traded in a rangebound manner throughout the session to end flat.

Benchmark indices opened marginally lower, following record closing highs registered in the previous session, as investors digested signals from global central banks on the interest rate environment.

Gains were limited as global markets remained subdued and oil prices rose.

At the closing bell on Friday, the BSE Sensex stood higher by 21 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 29 points (up 0.2%).

Reliance Industries, Wipro, and Axis Bank were among the top gainers.

Nestle, Kotak Bank, and ICICI Bank, on the other hand, were among the top losers.

Broader markets settled on a firm note with smallcaps and midcaps both outperforming benchmark indices.

The BSE MidCap gained 0.8% while the BSE SmallCap index ended 0.7% higher.

Sectoral indices ended on a mixed note with stocks in the realty sector, energy sector and metal sector witnessing most of the buying.

While private bank stocks and FMCG stocks witnessed selling.

Shares of Escorts Kubota and REC hit their 52-week high.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Gold prices for the latest contract on MCX were trading down by 0.3% at Rs 52,503 per 10 grams at the time of Indian market closing hours on Friday.

At 7:30 AM today, the SGX Nifty was trading down by 68 points, or 0.4% lower at 18,600 levels.

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

Recently, the Indian stock markets closed at its all-time high. Stocks across many sectors have moved up recently.

In the below video, Chartist Brijesh Bhatia covers one such sector that's looking good on the charts.

He believes fertilizer stocks should be on your watchlist and his video will guide you in narrowing down the best fertilizer stocks.

Top Buzzing Stocks Today

Bharti Airtel will be among the top buzzing stocks today.

India's second largest telecom operator is investing in upskilling its workforce for the 5G rollout and applications through extensive in-house programmes under the 5G Academy and the IP (internet protocol) Academy initiatives.

The company did lay out a plan one year ago for talent and 5G, outlining the gaps in the workforce, and the urgency with which these needed to be plugged.

Godrej Properties share price will also be in focus today.

The company expects to launch a luxury housing project at Ashok Vihar in the national capital in March quarter and is eyeing Rs 80 billion (bn) of sales revenue from this property.

It had in February 2020 acquired a nearly 27-acre land in the national capital for Rs 13.6 bn to develop a luxury housing project.

Market participants will also track shares of Bikaji Foods.

On Friday last week, shares of Bikaji Foods continued their upward movement and surged 8% to hit a new high.

A sharp rally in the stock price of the company saw its market captialisation cross Rs 100 bn in Friday's intra-day trade.

Dream-Run for PSU Banks

On Friday last week, the market capitalisation of Nifty PSU Bank index constituents crossed Rs 10 trillion (tn) on an intra-day basis.

With recent gains, the PSU bank index has outperformed both the Nifty and the Nifty Bank index by a huge margin in 2022.

Improved results, higher credit growth and reduction of non-performing assets (NPA), have boosted the prospects of the PSU banks.

Even on the technical charts, the index is set to head higher. On the weekly chart, the index has broken out of the falling trendline indicating an end to the 12-year-long bearish trend.

The higher high-higher low pattern since the low of 2020 is the sign of a bullish trend as per Dow theory. The icing on the cake is the breakout from the horizontal trendline on the chart.

In the last few months, the PSU banks have been on the mind of traders and investors due to their outperformance against the private banks.

Chartist Brijesh Bhatia believes this is the beginning of a new journey for the PSU Banks and it may last for the next 5-8 years. PSU bank stocks may even become best stocks for the next 10 years.

Better Earnings Prospect for Telcos

Telecom sector's revenue is set to increase 3-4% on a sequential basis in the October-December period, on the back of decent 4G additions and rising data usage in the seasonally stronger third quarter of the financial year.

Markets experts said that revenue could increase more than 5% sequentially if Bharti Airtel extends its recent sharp increase in base rates in Odisha and Haryana to other circles, and if Reliance Jio and Vodafone Idea (Vi) take a cue from Bharti Airtel.

Earlier this month, Bharti Airtel increased its base tariff by 57% to Rs 155 in Odisha and Haryana to test the waters, raising the possibility of another round of industry-wide rate revision almost a year after the last one.

At Bharti Airtel's second quarter earnings call this month, managing director Gopal Vittal underlined the need for another round of tariff correction as the current 8.5% return on capital is very low.

Newly Listed Stock in Focus

The newly listed stock Keystone Realtors will be in focus today. The company is in talks to acquire at least 20 residential property projects involving redevelopment work in Mumbai and expects around half of these to be added to its existing development portfolio soon.

The Rustomjee Group company is also in advanced discussions to enter into an agreement to jointly develop three projects in prime areas of the country's commercial capital.

Currently, the company's development portfolio includes around 11% work related to redevelopment projects and it is looking to increase this proportion.

Keystone Realtors listed on stock exchanges last week following the company's initial public offer (IPO).

The developer has raised more than Rs 6.4 bn through its maiden share sale. It plans to use a part of the proceeds for repayment and prepayment of certain borrowings availed by the company and funding acquisition of future real estate projects.

Dharmaj Crop Guard IPO

Agrochemical company Dharmaj Crop Guard's Rs 2.5 bn IPO will open for subscription today. This is November's 9th issue.

The offer price has been fixed at Rs 216-237 a share.

The company's GMP rose from Rs 25 to Rs 45 in one session recently, which indicates positive outlook of the market towards the offer.

Also, as a part of its expansion plans and in order to achieve backward integration for its operations, the company has acquired around 33,489.7 square meters of land at Saykha Industrial Estate, Gujarat, India.

For more, check out the 5 important details about Dharmaj Crop IPO.

And 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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