Gift Nifty Up 466 Points | L&T Finance Completes Subsidiaries Merger | Why Adani Ports Share Price is Rising | Top Buzzing Stocks Today

Tue, 5 Dec Pre-Open

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On Monday, Indian share markets continued the momentum as the session progressed and ended the day on firm footing.

Equity benchmark indices scaled fresh lifetime highs on open as the Bhartiya Janata Party's (BJP) decisive win in assembly elections fuelled a sharp rally.

At the closing bell on Monday, the BSE Sensex closed higher by 1371 points (up 2%).

Meanwhile, the NSE Nifty closed higher by 417 points (up 2.1%).

L&T and Eicher Motors were among the top gainers.

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

The BSE MidCap index and BSE SmallCap index ended 1.2% higher.

Sectoral indices ended higher with stocks in the banking sector, oil & gas sector and financial sector witnessing most buying.

Shares of Bosch and Shree Cement hit their 52-week high on Monday.

The rupee was trading at 83.35 against the US$.

Gold prices for the latest contract on MCX were trading up by 0.4% at Rs 63,587 per 10 grams at the time of Indian market closing hours on Monday.

At 7:45 AM today, the Gift Nifty was trading up by 466 points or 2.3% higher at 20,819 levels.

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

Speaking of stock markets, when it comes to famous turnarounds of the last one year, no discussion can be complete without Suzlon Energy.

The stock was arguably on the top of the list of every market pundit.

For perspective, the stock is up a whopping 312% in the last one year, far outperforming the close to 40% returns earned by the BSE Small Cap index.

By the way, it is up a huge 20x from its March 2020 lows. Talk of life changing investments!

However, there is a risk to investing in a stock like Suzlon Energy and ignoring this risk could prove fatal over the long run.

Co-head of research, Rahul Shah, in his latest video talks about what exactly is this risk and how should one minimise it.

Top buzzing stocks today

L&T share price will be in focus today.

Shares of L&T surged 5% to hit a new high of Rs 3,347.25 on the BSE in Monday's intra-day trade amid heavy volumes led by a strong business outlook.

This can be further attributed to its incorporation of a new wholly-owned subsidiary L&T Semiconductor Technologies.

Som Distilleries will also be a top buzzing stock.

Som Distilleries announced receiving the Karnataka Excise Department's approval to supply premium beer brands in Tamil Nadu. The stock gained nearly 5% after the announcement.

Hunter and Blackfort are among the key millionaire brands that have sales of more than 1 million cases per annum for the company.

L&T Finance Completes Subsidiaries Merger

L&T Finance Holdings (LTFH) on Monday announced the completion of a merger of subsidiaries, L&T Finance (LTF), L&T Infra Credit (LTICL), and L&T Mutual Fund Trustee, with itself.

With this merger, all the lending businesses will be housed under one entity i.e., LTFH, with it becoming the equity-listed operating lending entity, the non-banking finance company, which offers a range of products and services under the L&T Finance brand.

The respective boards of the said companies had approved the merger proposal in January 2023 and the process was completed post requisite approvals from shareholders, creditors, and regulatory/ statutory authorities - Reserve Bank of India (RBI), National Company Law Tribunal (NCLT), Securities and Exchange Board of India (SEBI), and stock exchanges.

The decision to merge two lending entities with the same NBFC Investment & Credit Company registrations and one non-operating entity with LTFH was taken after carefully considering market dynamics, internal synergies, and a vision for sustained growth.

The key benefits of the merger include astute liability management, the ability to provide enhanced returns to shareholders, seamless compliance and adherence to RBI scale-based regulations, and operational efficiency.

Cash-rich midcap stocks are particularly attractive due to their strong financial position, which can catalyze future expansion, acquisitions, and innovation. L&T Finance is one among them.

For more, check out the Top 5 Cash-Rich Midcap Stocks to Add to Your Watchlist.

Inox Wind's Capital Infusion

Inox Wind Energy (IWEL), on Monday, said it has infused Rs 8 bn into Inox Wind Limited (IWL) and the subsidiary company will utilise the amount to clear a portion of its outstanding debt.

IWEL had earlier raised Rs 8 billion (bn) through the sale of equity shares of Inox Wind through block deals.

The recent round of fundraising by IWL's promoter and the subsequent capital infusion into IWL is a significant step towards the company's aim of becoming a net-debt-free company.

The Inox Group is operating across two key verticals, chemicals and renewable energy.

Why Adani Ports' Share price is rising

APSEZ shares opened higher and rose further to hit a day's high of Rs 883 on BSE, up 6.7% over Monday's close.

The Adani group company's cargo volume rose by 42% to 36 million metric tonnes (MMT) in November 2023 compared to the same month last year.

The company witnessed growth across all three broad cargo categories - dry bulk, containers and liquid and gas. Dry bulk volumes surged by 60% year-on-year, containers by 26% year-on-year, and liquids and gas by 23% year-on-year.

Adani Ports also stated that its joint venture terminal in Mundra, Adani International Container Terminal Pvt (AICTPL), scaled a milestone by becoming the first terminal in India to handle over 3,00,000 containers in a month in November.

The terminal handled approximately 10,000 TEUs every day.

APSEZ's other two ports of Dhamra and Ennore also reported their highest-ever monthly volumes. Dhamra handled 3.96 MMT, while Ennore handled 65,658 TEUs in November.

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.

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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