SGX Nifty Up 92 Points | Tata Motors to Hike Prices | Droneacharya Aerial IPO | Top Buzzing Stocks Today

Wed, 14 Dec Pre-Open

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On Tuesday, Indian share markets continued their upward momentum and extended gains as the session progressed.

Indian indices tracked the overnight Wall Street surge and had a strong day to end with decent gains.

Aiding sentiment was India's retail inflation, which eased sharply to an 11-month low of 5.8% on an annual basis in November amid cooling global commodity prices and higher borrowing costs.

At the closing bell on Tuesday, the BSE Sensex stood higher by 403 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 111 points (up 0.6%).

IndusInd Bank, Bajaj Finance, and Infosys were among the top gainers.

Apollo Hospital, Hindalco, and BPCL, on the other hand, were among the top losers.

The BSE Midcap inched higher 0.3% while the BSE SmallCap index rose 0.4%.

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

Sectoral indices ended on a mixed note with stocks in the telecom sector, IT sector and finance sector witnessing heavy buying.

While stocks in the realty sector, metal sector, and oil and gas sector witnessed selling.

Shares of Lakshmi Machine, Polycab India, and Axis Bank 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 81.8 against the US$.

Gold prices for the latest contract on MCX were trading up by 0.2% at Rs 54,132 per 10 grams, at the time of Indian market closing hours on Tuesday.

At 7:20 AM today, the SGX Nifty was trading up by 92 points or 0.5% higher at 18,800 levels.

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

Speaking of stock markets, Rahul Shah talks about 20 stocks to watch out for high dividends in 2023.

In the video, he talks about a market-beating strategy for stock picking without using mathematics.

Tune in to know what exactly this strategy is and how it works.

Top Buzzing Stocks Today

TCS will be among the top buzzing stocks today.

TCS on Tuesday announced its partnership with Samagra Shiksha, Gujarat Council of School Education, and the Government of Gujarat.

The partnership is to impart new-age digital skills, such as computational and design thinking to students and teachers.

NTPC share price will also be in focus today.

Power generation major NTPC on Tuesday announced that it has commissioned the full capacities of 150 MW and 90 MW Devikot solar power projects in Rajasthan's Jaisalmer.

With this, the standalone installed and commercial capacity of NTPC has become 58,041.27 MW (megawatts), while the group installed, and commercial capacity has become 70,656.27 MW.

Tata Motors to hike commercial vehicle prices

Tata Motors on Tuesday announced that the company will raise prices of commercial vehicles across variants by up to 2% from January 2023.

While this price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles.

With the steep rise in overall input costs, the company is compelled to pass on some proportion through this minimal price hike.

For the September 2022 quarter, Tata Motors India's business witnessed an over 33% year-on-year (YoY) rise in input costs to Rs 96 m.

Raw material cost as a percentage of sales was 65% in the quarter.

Tata Motors is the country's leading player in the commercial vehicle segment.

However, in the EV market, the company is leading the EV revolution with more than 80% market share in passenger EV sales.

The company witnessed exponential sales growth in 2022 as it sold close to 20,000 units, driving the e-mobility practically independently. This has made tata motors among the top 5 EV manufacturer to add to your watchlist.

Droneacharya Aerial IPO

The initial public offer (IPO) of Droneacharya Aerial Innovations opened for subscription on Tuesday and has been subscribed to over 15 times within a day of its opening.

Retail investors continued to lead, buying 37.3 times their allotted quota, while non-institutional buyers have bid 17 times shares of the portion set aside for them.

Qualified institutional buyers bought 0.4-time shares of the company set aside for them.

The price band for the public issue is Rs 52-54 per share.

The company is looking to mobilize Rs 340 m through the public issue. The issue is a completely fresh issue of 6.2 m shares by promoter and investors.

The listing of its equity shares will take place on 23 December 2022.

To know more about IPOs, check out the upcoming IPO section on our website.

Rupee plunges 26 paise

The Indian rupee plunged on Tuesday, extending losses for the second day in a row stalled in the previous session as demand for dollars from importers remained firm ahead of key US inflation data later in the day.

The rupee was last changing hands at 82.79 per dollar, compared to its previous close of 82.53 on Monday down by 26 paise.

The domestic currency dropped 36 paise to close provisionally at RS82.87 against the US dollar.

This downfall was on the back of the rise in crude prices in the international market, as the country depends on imports for over 85% of its oil needs supply concerns.

Domestic retail inflation fell to an 11-month low for the first time since December 2021.

Also, the industrial output unexpectedly contracted by 4% in October, its weakest performance in 26 months.

That put additional pressure on the local currency, in addition to solid demand for the greenback from Indian importers.

If you're looking for investing ideas, we suggest watching this video - How to Profit from a Rising US Dollar.

Also, read our recent pieces on how IT stocks benefit from a falling rupee and the 5 stocks that can gain from a falling rupee.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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