SGX Nifty Up 40 Points | KPI Green Energy Bonus Issue | Why LIC Share Price is Rising | Top Buzzing Stocks Today

Tue, 13 Dec Pre-Open

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On Monday, Indian share markets remained volatile throughout the trading session and ended on a flat note.

Benchmark indices closed flat as investors remained cautious at the start of the week keeping an eye on the Fed's decision on the interest rate hike.

IT stocks continued their downward journey amidst negative global cues and fear of recession.

At the closing bell on Monday, the BSE Sensex stood lower by 51 points (down 0.1%).

Meanwhile, the NSE Nifty closed flat, higher by 1 point.

BPCL, Divis Laboratories, and Coal India were among the top gainers.

Asian Paints, Infosys, and Kotak Mahindra, on the other hand, were among the top losers.

Broader markets settled on a positive note. The BSE MidCap inched 0.3% higher while the BSE SmallCap index ended 0.4% higher.

If you're looking to midcap stocks that offer growth in the long run, check out the 5 midcap stocks for long term.

Sectoral indices ended on a mixed note yesterday with stocks in the oil and gas sector, metal sector and energy sector witnessing heavy buying.

While stocks in the IT sector, telecom sector, and power sector witnessed selling.

Shares of Godfrey Phillips, Blue Star, and Apollo Tyres hit their 52-week highs.

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

The rupee was trading at 82.6 against the US$.

Gold prices for the latest contract on MCX were trading lower by 0.2% at Rs 54,213 per 10 grams at the time of Indian market closing hours on Monday.

At 7:40 AM today, the SGX Nifty was trading up by 40 points or 0.2% higher at 18,630 levels.

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

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Top Buzzing Stocks Today

LIC share price will be in focus today.

Shares of Life Insurance Corporation of India (LIC) hit over three-month high of Rs 695.9, in an otherwise subdued market.

The stock was trading higher for the fourth straight day, surging 7% during the period, on report that the government aims to appoint a private sector professional as the first chief executive of LIC.

The report said LIC was in an effort to modernize its largest insurer after a disappointing stock market debut.

LIC share price which was falling for a long time, has reversed course it seems.

Market participants will also track the share price of Yes Bank.

The bank's fund-raising would be conducted through a combination of US $ 640 million (Rs 5,100 crore) in equity shares and US $ 475 m (Rs 3,800 crore) through equity share warrants,

The stock of the private sector lender has soared 17% after it received the Reserve Bank of India's (RBI) nod to raise capital from funds affiliated to global private equity investors Carlyle and Advent International.

Uniparts India makes a dull debut

Uniparts India made a weak stock market debut yesterday, with its shares listing at Rs 575, marginally below the issue price of Rs 577 per share on the National Stock Exchange (NSE) and the BSE.

Post listing, the stock of industrial products company plunged to Rs 538, a 7% discount to its issue price on the NSE.

Uniparts India is a global manufacturer of engineered systems and solutions for precision products for off-highway vehicles in the agriculture and construction, forestry and mining sectors with a presence in over 25 countries.

The company enjoys significant Global Market share and has presence in key markets worldwide, including North and South America, Europe, Australia, Japan and India.

It also serves some of the largest global companies and has long-term relationships with key global customers, including major original equipment manufacturers.

The objects of the offer were to achieve the benefit of listing the equity shares on the stock exchanges as well as provide an exit option, especially to investor selling shareholders as well as promoters and some of individual selling shareholders

The firm's sales and net profit have grown at a CAGR of 16 and 63%, respectively, over the financial year 2021--2022, led by impressive improvement in EBITDA margins, which were 21%. In the financial year 2021-22 with return on capital employed (ROCE) at 27%.

KPI Green Energy Fixes Record Date for Bonus Shares

KPI Green Energy, a small-cap company with a market capitalization of Rs 16.4 bn, has fixed its record date for bonus issue.

The company operates in the nation's power sector. In the solar sector for more than ten years, KPI Green Energy has about 60MWs of operating capacity and 40MWs of capacity under construction.

The company's Board of Directors stated yesterday in a stock exchange filing that it has fixed Wednesday, 18 January 2023 as the 'Record Date' for the purpose of determining the names of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1:1.

The member's approval for bonus issue is pending.

The Board of Directors also announced that the company is developing solar power projects aggregating 24.90 MWp capacity from various captive customers under the 'Captive Power Producer (CPP)' segment.

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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