Gift Nifty Up 84 Points | IndiGo Crosses Rs 1 Trillion in Market Cap | Vedanta Resources Fund Raising Plan | Top Buzzing Stocks Today

Fri, 15 Dec Pre-Open

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On Thursday, after opening the day on the positive note, Indian share markets continued the momentum as the session progressed and ended the day on firm footing. Dovish Federal Reserve commentary powered the Dalal Street.

At the closing bell, the BSE Sensex stood higher by 930 points (up 1.3%).

Meanwhile, the NSE Nifty closed higher by 256 points (up 1.2%).

Tech Mahindra, Wipro and Infosys were among the top gainers on Thursday.

Power Grid, Nestle and Cipla, on the other hand, were among the top losers on Thursday.

Border indices ended in green with the BSE MidCap index up by 1.1% while the BSE SmallCap index rose by 0.6%.

All Sectoral indices ended in green with stocks in the IT sector, Realty sector, Telecom sector, Financial sector and Energy sector witnessing most of the buying.

Shares of Titan, L&T and Bajaj Finserv hit their respective 52-week highs on Thursday.

The rupee was trading at 83.32 against the US$.

Gold prices for the latest contract on MCX are trading in green by 2.24% at Rs 62,567 per 10 grams at the time of Indian markets closing on Thursday.

At 7:40 AM today, the Gift Nifty was trading up by 84 points or 0.4% at 21,423 levels.

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

Speaking of stock markets, check out the video below where we talk about Indian companies supplying EV components to Tesla.

Tesla's entry into Indian markets will provide multifold benefits. It will accelerate the adoption of EVs and boost the growth of Indian auto component manufacturers.

In the below video, we discuss six Indian companies that are already supplying their products to Tesla.

Top buzzing stocks today

Tanla Platforms will be in focus today.

Share of Tanla platforms, the leading communications platform as a service (CPaaS) company zoomed 20% on Wednesday, 13 December 2023 and another 6% in early trade on Thursday, 14 December 2023.

This rally can be attributed to ValueFirst, the company's recent acquisition which is paying off.

The acquisition facilitated Tanla's international business growth, particularly in Saudi Arabia, the United Arab Emirates, and Indonesia.

HDFC Life and Max Financial will also be in the buzz.

On Thursday, 14 December 2023, shares of HDFC Life and Max Financial Services came under selling pressure.

HDFC Life fell 2%, while Max Financials dipped 2.5%.

The reason behind this fall can be attributed to Insurance Regulatory and Development Authority of India's (IRDAI) proposal of a higher surrender value on non-participating insurance products.

The IRDAI released a consultation paper suggesting an increase in the surrender value for non-PAR products, potentially impacting the margins of these products.

India's First Airlines to Cross Rs 100,000 Mark

IndiGo has become the sixth-largest airline globally by market capitalization, valued at US$ 13.8 billion (bn), surpassing United Airlines at US$ 13.5 bn.

Delta Air Lines currently leads with a market capitalization of US$ 26.5 bn.

InterGlobe Aviation shares crossed Rs 3,000 for the first time, marking their longest winning streak since going public in 2015.

IndiGo's market valuation has tripled since its listing, while United Airlines faced a US$ 10 bn erosion during the same period.

IndiGo has expanded its market share, particularly after Go First grounded its operations. The share price of the company has rallied 17% in a month and 46% in 2023 so far.

If you're considering investing in airline stocks, make sure you do your due diligence. It's a risky sector. If you get either the stock or your timing wrong, you could face serious losses. For more, check out the top airline companies in India.

Vedanta Resources Raises Funds to Avoid Default

Vedanta Resources Ltd (VRL), the holding company of the Vedanta group, has secured US$ 1.25 bn from private credit lenders for debt refinancing and a new credit facility.

The fundraising aims to create a long-term sustainable capital structure, demonstrating the company's ability to access global capital markets and investor confidence in its business.

The loan, raised from reputable financial institutions, will refinance existing liabilities.

VRL is working to modify certain agreements and permissions to enhance the credit terms of bonds set to mature in 2024. The loan is set to mature in April 2026 and is guaranteed by VRL and its subsidiaries. The transaction is crucial for the group to avoid a potential default.

The loan is reported to be priced upwards of 18% per annum.

On the other hand, the parent company, Vedanta's board is set to consider and approve the second interim dividend for the financial year 2024 on 18 December 2023.

The share price of Vedanta is up by 1.9% in a week and fell about 20% in 2023 so far.

For more, check out Vedanta Demerger - Potential Value Creation?

Why HUDCO Share Price is Rising

On 14 December 2023, the share price of HUDCO zoomed 20% to touch a new all-time high.

The reason behind the rally was the positive sentiment of the overall market, specifically in PSU stocks.

The present market conditions favour government-owned stocks. Recently, PSU stocks have contributed to the market rally, especially with the announcement of election results in key states. If the government maintains its substantial capital expenditure plans, similar to recent months, the market may continue to assign premium valuations to government stocks.

In the last one month, the stock has rallied 22% and has doubled in 2023 so far.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For more, check out why HUDCO share price is rallying and what's next..

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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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

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