Hero MotoCorp to Launch Electric Scooter, Kalpataru Power Bags Huge Orders, and Buzzing Stocks Today

Fri, 31 Dec Pre-Open

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Indian share markets ended on a flat note yesterday.

Benchmark indices witnessed yet another rangebound trading session as investors preferred to stay on the sidelines amid the year-end celebrative mood.

At the closing bell yesterday, the BSE Sensex stood lower by 12 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 10 points (down 0.1%).

NTPC and IndusInd Bank were among the top gainers.

Bajaj Auto and Reliance Industries, on the other hand, were among the top losers.

Both, the BSE Mid Cap index and the BSE Small Cap index ended up by 0.2%.

Sectoral indices ended on a mixed note with stocks in the energy sector and oil& gas sector witnessing most of the selling pressure.

IT and consumer durables stocks, on the other hand, witnessed buying interest.

Shares of Persistent Systems and Grindwell Norton hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading down by 0.4% at Rs 47,639 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, Brijesh Bhatia talks about the year 2021 in review and what he got right and wrong in 2021, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be Kalpataru Power Transmission (KPTL).

Shares of Kalpataru Power, a leading global EPC player in the power and infrastructure contracting sector, surged 7.2% yesterday on the BSE after the company announced large order wins.

According to a release issued by the company to the BSE, the company has secured new orders worth Rs 15.6 bn. The orders are from India, Africa, CIS and South America in the power transmission business.

Commenting on the new order announcements, Manish Mohnot, Managing Director & CEO, KPTL said

• We are delighted with the new order wins, especially that all these orders are in our core power T&D business.
  
  These orders in the T&D business reaffirms our confidence in the strong growth of this business going forward.
  
  With reduced volatility and good visibility across all our businesses, we are confident to reach our targeted margin and build a strong order book.

Further, KPTL's international subsidiary has also secured new power transmission projects in Europe.

BPCL share price will also be in focus today.

The country's largest insurance company LIC has acquired a 2.02% stake in the state-owned petroleum refineries company through open market transactions.

This increased LIC's shareholding in BPCL from 5.01% to 7.03% now.

Meanwhile, with uncertainty looming over the privatisation of BPCL, the government's disinvestment target of Rs 1.75 tn for fiscal 2022 is unlikely to be met.

The Centre may lower its target for disinvestment receipts in the revised estimates, even as it is on track to launch the initial public offering (IPO) of LIC.

Reports state that while the LIC IPO is on schedule to be completed before March 2021, the planned privatisation of BPCL may spill over to the next financial year.

This implies that when Finance Minister Nirmala Sitharaman presents the Union Budget for 2022-23, the revised estimates for divestment could be around Rs 500 bn lower than the 2021-22 budget estimates.

The due diligence for the sale of BPCL has taken longer than anticipated. Interested bidders had got access to the refiner's financial data in April, but have seen delays in completing due diligence on account of disruptions owing to the pandemic.

Cars24 and Bajaj Finance Partner to Provide Financing to Used Car Buyers

Cars24, a leading e-commerce platform for pre-owned vehicles has collaborated with Bajaj Finance, to lift the veil from used car financing and facilitate a quick, frictionless and streamlined shopping experience.

This move follows a Series G funding round announced in December 2021 where the firm raised US$400 m at a US$3.3-bn valuation.

While the consumer demand for pre-owned vehicles is skyrocketing, the consumer financing penetration in the Indian used cars industry stands at only about 15%.

Realising the key role financing plays when investing in a car, Cars24 and Bajaj Finance, are enabling consumers by improving their financial flexibility and providing greater accessibility of owning a car.

Hero MotoCorp Partners with Gogoro to Launch Electric Scooter in India

India's Hero MotoCorp and Taiwan's Gogoro Inc announced a strategic partnership to bring a new generation of electric bikes and scooters to India.

Hero MotoCorp is the world's largest producer of motorcycles and scooters. Gogoro is a world leader in urban battery swapping and smart mobility innovation.

The two companies will be establishing a joint venture to use Gogoro's battery swapping platform with Hero's motorbikes and scooters to develop new electric vehicles for Indian markets.

Dr Pawan Munjal, Chairman, and CEO, Hero MotoCorp, in an official press release said,

• Our strategic partnership with Gogoro is in line with our Vision - 'Be the Future of Mobility' which we are bringing alive through our Mission to 'Create, Collaborate & Inspire'.
  
  Today marks another major milestone in our journey, as we bring Hero's leadership in two-wheelers, our global scale, and innovation powerhouse, with the leadership of Gogoro in swapping business model, as they have demonstrated over the years in Taiwan and the rest of the world.

Both the corporations plan to expand to other markets after launching in India and around 40 other countries. The new electric vehicles (EVs) will be sold under the Hero brand. Other details like pricing, covered cities, and vehicle designs will be announced soon.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

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

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