Gift Nifty Up 62 Points | Paytm Expands Credit Distribution Business | Why HAL Share Price is Rising | Top Buzzing Stocks Today

Thu, 7 Dec Pre-Open

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On Wednesday, Indian share markets continued its record run for the seventh straight trading session and the markets ended firmly in green.

Equity benchmark indices hit new highs boosted by moderating crude oil prices and rally in Adani group and PSU banks.

At the closing bell on Wednesday, the BSE Sensex closed higher by 358 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 83 points (up 0.4%).

Wipro, ITC and L&T were among the top gainers.

Eicher Motors, NTPC and Cipla on the other hand, were among the top losers.

Broader markets ended on a positive note with BSE MidCap index and BSE SmallCap index, both, up by 0.2%.

Sectoral indices ended mixed today, with stocks in power sector, oil & gas sector and IT sector witnessing most buying. Meanwhile stocks in healthcare sector and realty sector witness selling pressure.

Shares of TVS Holdings and Angel One hit their 52-week high on Wednesday.

The rupee was trading at 83.33 against the US$.

Gold prices for the latest contract on MCX were flat at Rs 62,218 per 10 grams at the time of Indian market closing hours on Wednesday.

At 8:00 AM today, the Gift Nifty was trading up by 62 points or 0.3% higher at 21,035 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

Angel One share price will be in focus today.

On 6 December 2023, Angel One, the big name in the broking segment rose over 7% to hit its new 52 week high.

The rally came after the stock broker reported a 51.3% year-on-year (YoY) increase to 18.5 million (m) in November 2023, indicating nearly a 4% rise compared to the previous month.

Oberoi Realty

will also be a top buzzing stock.

Shares of Oberoi Realty hit 52 weeks high.

This rally can be attributed to the company's acquisition of a 6.4-acre land parcel near Mumbai from NRB Bearings for Rs 2 bn.

Paytm Expands Credit Distribution Business

Paytm, on 6 December, announced that it will further expand its business to offer higher ticket personal and merchant loans, which would be targeted at lower risk and high credit worthy customers, in partnership with large banks and NBFCs.

They will reduce sub-Rs 50,000 loan distribution and expand higher ticker personal and merchant loans.

Further, the company plans to focus on merchant loans.

As these loans are given for business purposes to small merchants, they don't get impacted by the recent regulatory guidance.

According to the company's analyst presentation, it has seven NBFC partners for loan distribution and is in the process of integrating one large bank and two large NBFCs, which will be completed during Q4 FY 2024 and Q1 FY 2025.

In addition to this, the company has three credit card partners and is in the process of partnering with one more bank, with a key focus on the Rupay credit card.

What does the future have in store for Paytm, now that one of the world's best investors has offloaded his entire stake in the company? For details, check out Buffett Sells Paytm: What's Next?

Why HAL Share Price Is Rising

HAL shares were trading 7.4% higher from the previous close of 5 December 2023. The stock rose 116% in 2023, doubling investors' money.

HAL would serve as a hub for professionals, industry leaders and stakeholders from the aviation sector and they would have networking opportunities to establish meaningful connections, foster collaborations and explore potential business partnerships.

The expo would unveil a comprehensive range of avionics products designed and developed by HAL. Attendees would also get to see avionics systems, including the advanced flight control systems, communication systems and navigation systems, deployed in various aircraft platforms.

The event would include live demonstrations to experience the capabilities of avionics products and systems first-hand.

Panel discussions would showcase insights from the Indian armed forces, HAL, partner organisations, and academia, covering diverse topics like avionics trends, system integration challenges, and the future of aviation electronics.

HAL is an important player in building India's defence infrastructure. It is the only Indian company to have specialisation in manufacturing and maintaining aircraft services.

After rallying 80% in 2023 so far, HAL hits a new 52-week high. To know what's next check out Why Hindustan Aeronautics Share Price is Rising.

HAL has paid two interim dividends of Rs 20 each for the financial year 2023, making it among the top defence stocks which pay good dividends.

HAL is the perfect combination of dividend and growth. For more, check out the Top 5 High Dividend Yield PSU Stocks Growing at Amazing Speed.

Zydus Life Secures Rare Disease Drug Rights

Zydus Lifesciences gained 1.6% after its US arm Sentynl Therapeutics assumed full responsibility for the development and commercialisation of CUTX-101, which is used in the treatment of Menkes disease, from Cyprium Therapeutics.

Sentynl announced the execution of an assignment and assumption agreement with Cyprium Therapeutics, a Fortress Biotech subsidiary.

Under the agreement, Cyprium completed the transfer of its worldwide proprietary rights and US FDA documents about CUTX-101, the copper histidine product candidate for the treatment of Menkes disease, to Sentynl.

In 2023 between 1 January 2023 and 10 March 2023, the stock has gained 13%, making it among the top-performing large-scale stock of 2023 so far.

Check out Equitymaster's stock screener for screening India's top pharma 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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