Gift Nifty Trades Flat | Adani Group's AI Collaboration | FirstCry Files For IPO | Top Buzzing Stocks Today

Fri, 29 Dec Pre-Open

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On Thursday, Indian share markets gained momentum as the session progressed and ended the day higher.

Indian benchmark indices Sensex and Nifty hit fresh all-time highs on Thursday ahead of the monthly F&O expiry amid firm cues from the global markets.

Nifty50 topped the 21,700 mark for the first time while Sensex was around the 72,300 mark. Barring media & realty, buying action was visible in most sectoral indices.

At the closing bell on Thursday, the BSE Sensex closed higher by 372 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 123 points (up 0.6%).

Coal India, Hero MotoCorp and NTPC were among the top gainers.

Adani Enterprises, Adani Ports and Eicher Motors on the other hand, were among the top losers.

Broader markets ended on positive note. The BSE MidCap index ended 0.6% higher and BSE SmallCap index ended higher by 0.2%.

Sectoral indices ended mixed with stocks in the FMCG sector, metal sector and oil & gas sector witnessing most of the buying. Meanwhile stocks in auto sector, IT sector and industrial sector witness selling.

The rupee was trading at 83.17 against the US$.

Gold prices for the latest contract on MCX were trading 0.2% lower at Rs 63,520 per 10 grams at the time of Indian market closing hours on Thursday.

At 8:00 AM today, the Gift Nifty was trading flat at 21,957 levels.

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

Speaking of stock markets, arriving at a reasonable estimate of a stock's intrinsic value is easy. However, there are errors that can creep in and even the most astute analysts can fall pretty to them.

So, what exactly are these errors and how are they associated with a stock like Tata Motors.

Tune in for more.

Top buzzing stocks today

HUDCO share price will be in focus today.

Shares of Housing & Urban Development Corporation (Hudco) surged 18% to hit a fresh record high on 28 December on signing a Memorandum of Understanding (MoU) with the State Government of Gujarat.

The MoU for an investment of up to Rs 145 bn for financing the housing and urban infrastructure projects in the western state.

Man Industries will also be a top buzzing stock.

Share price of Man Industries (India) zoomed 7% intraday on 28 December after the company announced successful testing of its pipes for safe hydrogen transport.

The testing has been conducted by a leading European research centre for hydrogen transport, ensuring structural integrity and safety for the fuel.

Adani Group's AI Collaboration

The Adani Group, led by Gautam Adani, has formed a joint venture with a unit of UAE's International Holding to explore artificial intelligence and other technologies, signalling deepening ties between the Indian conglomerate and its West-Asia backers.

Adani Global and IHC's Sirius International Holding will own 49% and 51% respectively in Sirius Digitech International Ltd., which will be based in Abu Dhabi.

Both partners will have an equal representation on the board of the new entity, which will also explore the Internet of Things and blockchain besides AI.

Adani Global is a wholly owned subsidiary of flagship Adani Enterprises, which has a track record of incubating new businesses within the ports-to-power conglomerate. The joint venture aims to tap the US$ 175 billion (bn) India digitization opportunity across areas, including Fintech, Healthtech and Greentech.

Adani Group has been clawing back lost ground in recent months, regaining investor and lender confidence after denying Hindenburg Research's scathing allegations of corporate fraud.

India's two richest men, Mukesh Ambani and Gautam Adani are locked in a race for the top spot. For more, check out Adani vs Ambani - All Your Questions Answered.

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.

FirstCry Files For IPO

Brainbees Solutions, the parent company of online e-commerce unicorn FirstCry, applied to an initial public offering (IPO) with the market regulator Securities and Exchange Board of India (SEBI) on 28 December.

The Pune-based company plans to raise Rs 18.2 bn through a primary issue.

In addition to the fresh issue of equity shares, existing investors like automotive company Mahindra & Mahindra (M&M) and private equity firm TPG.

The company will use the funds to open new stores and warehouses and also expand internationally, as per the DRHP.

While the share price details are yet to be revealed, FirstCry was eyeing a valuation of about US$ 3.5-3.75 bn for its IPO, slightly higher than the US$3 bn, that it commanded during its last private fundraising.

The DRHP also said that FirstCry may consider a private placement of shares to certain investors for up to Rs 3.6 bn.

For more information on IPOs, check out the list of upcoming IPOs.

M&M Receives Tax Penalty

Mahindra & Mahindra on Thursday imposed a penalty of over Rs 5.6 m for wrongly carrying forward input service distributor credit available in pre-GST into the GST regime with regards to its two-wheeler business.

The company has received an order from the office of the Assistant Commissioner, Division-IV, CGST & Central Excise, Ahmedabad South imposing a penalty amounting to Rs 56,04,246.

This was about the two-wheeler business of Mahindra Two Wheelers Ltd (MTWL), which was demerged from MTWL and has since been merged with M&M.

The order has been passed on the basis that the closing balance of Input Service Distributor (ISD) credit available in the pre-GST regime was wrongly carried forward into the GST regime.

The company is a strong EV player in India.

The electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

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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