Gift Nifty Up 277 Points | Adani Group's Bond Prepayment | Why Siemens AG Acquired Stake At Discount | Top Buzzing Stocks Today

Mon, 4 Dec Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Friday, Indian share markets continued the momentum as the session progressed and ended the day higher.

Equity benchmark indices ended higher, while Nifty 50 hit a fresh record high on Friday, as faster-than-expected economic growth in the September-quarter added to optimism over the global interest rate outlook.

At the closing bell on Friday, the BSE Sensex closed higher by 492 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 116 points (up 0.6%).

ITC and NTPC were among the top gainers.

M&M and Wipro on the other hand, were among the top losers.

Broader markets ended on positive note. The BSE MidCap index ended 0.9% higher and the BSE SmallCap index ended 0.5% higher.

Barring auto sector, all other sectoral indices ended the day on a positive note with stocks in power sector, realty sector and FMCG sector witnessing most buying.

Shares of Apollo Hospitals, Titan and JK Cement hit their 52-week high on Friday.

The rupee was trading at 83.30 against the US$.

Gold prices for the latest contract on MCX were trading 0.4% higher at Rs 62,889 10 grams at the time of Indian market closing hours on Friday.

At 7:55 AM today, the Gift Nifty was trading up by 277 points or 1.4% higher at 20,630 levels.

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

Speaking of stock markets, Co-head of research, Tanushree Banerjee, in her video talks about how AI is transforming the business models of decades old tech majors in India.

It is a matter of time before they help other no tech companies transform themselves too.

Tune in to below video to know how 2024 can be the year of return of India's big tech stocks.

Top buzzing stocks today

PFC share price will be in focus today.

Power Finance Corporation Ltd (PFC) shares surged more than 9% on 1 December 2023 following the announcement that its wholly-owned subsidiary, PFC Consulting, has established a special purpose vehicle (SPV) named Paradeep Transmission.

PVR-Inox will also be a top buzzing stock.

Shares of PVR-Inox gained 2% to the day's high of Rs 1,755 per share on December 1 after the company opened its new 6-screen property at Jio World Plaza in Mumbai.

Adani Group's Bond Prepayment Plan

The Adani Group is working on a plan to raise US$ 350 million through dollar bonds next year, primarily to refinance a US$ 500 million RG1 (restricted group 1) bond due to mature in December 2024.

RG1 is a restricted group with a solar generation capacity of 930 MW, and includes three subsidiaries of Adani Green, Adani Green Energy (UP) Limited, Parampujya Solar Energy Private Limited (PSEPL) and Prayatna Developer.

The group may also call the bonds in July 2024, six months ahead of maturity.

For the September 2024 bond, Adani has set up an escrow account as part of the bond redemption reserve account, as stipulated in the original bond document, he said. Adani plans to issue the compliance certificate by December 10-11.

In all Adani Group has raised $9 billion in debt from global markets through the issuance of 17 bonds. Among these bonds, Adani Green Energy's US$ 750-million, 4.34% bond maturing in September 2024 has seen the most volatility.

In response, the management had put in place a financial plan by July this year, assuring investors that funds would be placed in escrow one year ahead of maturity.

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

Dig deeper into Adani group stocks.

Siemen AG To Acquire Siemens' Stake at Discount

Siemens AG (Siemens Aktiengesellschaft, Germany) will buy an 18% stake in the company from Siemens Energy Holding BV for Rs 2952.7 per share, which is a discount of 21.3% from the last closing price.

The buyer will acquire 6,41,01,646 shares in the company and thus the value of the transaction will be Rs 189.3 bn.

The development follows an earlier announcement when Siemens AG said it intended to enter into a share purchase agreement with Siemens Energy to acquire the stake in its Indian arm. The purchase consideration was set at €2.1 billion.

Siemens AG and Siemens Energy Holding BV are promoters of Siemens. The transaction will be inter-se transfer among promoter entities.

As of September end, Siemens AG held zero stake in the firm despite being listed as a promoter. Siemens Energy Holding BV held 24% of the company.

Siemens AG has proposed to acquire the shares on or after 8 December.

According to the earlier announcement, Siemens and Siemens Energy also agreed to propose to the board of Siemens India a demerger of the energy business.

Siemens Energy will ultimately acquire a controlling stake in the demerged energy business. The demerger is proposed to be completed in 2025, earlier than previously planned.

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

Maruti Suzuki's November Sells Flat

Maruti Suzuki India, on Friday, reported a 3.4% rise in total sales at 1,64,439 units in November 2023, as compared to 1,59,044 units in the same month last year.

Total domestic sales, comprising passenger vehicles, commercial vehicles and third-party supplies, were at 1,41,489 units last month as against 1,39,306 units in the year-ago period, up 1.57%.

Overall domestic passenger vehicle (PV) sales stood at 1,34,158 units last month, as compared to 1,32,395 units in November 2022, a growth of 1.3%.

Sales of entry-level mini cars, comprising the Alto and S-Presso, were lower at 9,959 units, as compared to 18,251 units in the same month last year.

Similarly, sales of compact cars, including models such as the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, were lower at 64,679 units in November 2023 as compared to 72,844 units in the year-ago month.

On the other hand, utility vehicle sales, comprising Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, and XL6, were higher at 49,016 units last month as against 32,563 units in the same period a year ago.

Maruti Suzuki is at the forefront of the electric vehicle (EV) megatrend.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

To know more, check out: Maruti Suzuki Share Price at Rs 15,000: Realistic or Farfetched?

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers