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Dabur, HDFC Life, Hero Motocorp Stocks Shine Today

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In the last two days, Sensex has plunged more than 1200 points and Nifty has plunged more than 300 points

The Indian stock market is dependent on foreign investors. With US federal Reserve not cutting interest rates any time around, foreign investors are pulling money from the Indian market and its impact can be clearly seen.

The market closed on a red mark on Thursday. In the last 2 days, Sensex has plunged more than 1200 points and Nifty has plunged more than 300 points. Currently, the Sensex is at 60,353.27 and the Nifty at 17,999.15. Looking at the global trends, there can be a period of ups and downs in the market even today.

Dabur To Make Investors Happy 

Momentum Indicator Moving Average Convergence Divergence (MACD) has indicated a rise in some stocks today i.e. on Friday. The shares of Dabur closed at Rs 571.40 on Thursday, with a jump of 2.06 per cent. It may be recalled here that Dabur has acquired a 51 per cent majority stake in Badshah Masala which has strengthened the company’s portfolio in the FMCG market. Experts say that this rise will continue even today.

Keep An Eye On These

Despite a fall in the market, HDFC Life closed with profit yesterday. Available at the price of 607.20, this share has given a return of 6.16% in the last 5 days. Its 52-week high is Rs 678.80. Similarly, Zydus Lifesciences Ltd and Hero Motocorp Ltd may also remain strong. Both these stocks had closed with gains on Thursday. Hero Motocorp closed at Rs 2,757.90, with a rise of 1.79 per cent. Zydus Lifesciences closed at Rs 432.90 with a jump of 2.14 per cent. Though Hero’s performance in the last five days has been nothing special, it may now pick up momentum.

These Stocks Are In Spotlight

Besides this, Rail Vikas Nigam, Larsen & Toubro, IDBI Bank and RHI Magnesita are in news. Rail Vikas Nigam has bagged a project worth Rs 166.26 crore in joint venture with ISC Projects. Currently, the company’s stock is trading at Rs 72.10. However, it closed on the red mark on Thursday. Whereas, RHI Magnesita has entered into a major deal with Dalmia Bharat Refractories. Its share is currently available at Rs 879.40. Larsen & Toubro is selling 99% stake of its subsidiary Think Tower Developers. Its stocks closed at Rs 2,089.50 on Thursday with a rise of 0.92 per cent.

Coal

Adequate Coal Stock At Thermal Plants With 25.6 Million Tonne Coal: Govt

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The total domestic coal production in October 2022 stood a bit strong at 18 per cent as against the same period of previous year with Coal India Ltd (CIL) recording a growth of 17.5 per cent. The contribution of domestic coal rake loading from all sources of CIL to the power sector stood at an all-time high of 296.5 rakes per day

The government said that the coal stock with domestic dry fuel-based power plants stood at 25.6 million tonnes, as on October 31. The situation of availability is being constantly monitored, it added.

The situation of coal supply to thermal plants is under control, government clarified.

In October, the domestic coal supply to the power sector was recorded at 12 per cent more as compared to the same period during last year. It is the highest ever supply to power sector during the first seven months of any financial year.

The total domestic coal production in October 2022 stood a bit strong at 18 per cent as against the same period of previous year with Coal India Ltd (CIL) recording a growth of 17.5 per cent.

During the first seven months of the current fiscal, the captive coal blocks produced 58.6 million tonnes, witnessing a growth of 37.5 per cent during the same period of last year, according to a media report.

The contribution of domestic coal rake loading from all sources of CIL to the power sector stood at an all-time high of 296.5 rakes per day. It is 19 per cent surge over the same period of the previous year according to the report.

An adequate supply to plants is being ensured by the Coal, Power, and Railway ministries are ensuring.

Recently, the ministry of Coal has opened 141 new coal blocks for commercial auction with an aim to boost coal production capacity. Also, it is coordinating with the state governments and related central ministries to operationalise mines auctioned previously, on fast track basis.

Adani group logo

Adani Green Energy Stocks 20% Up On Heavy Volume

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Spitze Trade and Investment Limited being one of the promotors of AGEL acquired 4 million equity shares. Such shares represent 0.25 per cent of total equity of the company for Rs 935 crore.

Adani Green Energy (AGEL) shares rose 20 per cent to Rs 2,405 at the National Stock Exchange (NSE) during intra-day trade backed by great volumes on 30 September.

The stocks of Adani Group’s electric utilities company were traded 13 per cent higher at Rs 2,270, against 1.6 per cent rise in the Nifty 50, at 01:01 PM. On the counter, average trading volumes almost doubled totalling 3.8 million shares changing hands on the NSE and BSE.

As per previous trends, AGEL has underperformed and has seen market fall of 7 per cent, in comparison to 4 per cent decline in the Nifty 50. However, the stock jumped to a record high of Rs 3,048 on 19 April 2022.

One of the promoters of AGEL, Spitze Trade and Investment Limited acquired 4 million equity shares. Such shares represent 0.25 per cent of total equity of the company for Rs 935 crore. The purchase of the company effected through open market operations between September 15 and September 26, the exchange data show.

At the same time, AGEL through an announcement informed about the commissioning of 600 MW World’s largest co-located Wind-Solar Hybrid power plant ‘’Hybrid Power Plant’’ at Jaisalmer, Rajasthan on 29 September. The said plant has Power Purchase Agreements (PPA) with Solar Energy Corporation of India (SECI) at Rs 2.69/kwh for 25 years.

India’s first hybrid power plant with a capacity of 390 MW was operationalized by AGEL at Jaisalmer, Rajasthan in May 2022. And after the successful commissioning of 600 MW plant, AGEL now has a total operational generation capacity of ~6.7 GW including operational hybrid power generation capacity of 1 GW being the largest in the World. In total AGEL’s renewable portfolio of 20.4 GW well on the lines to reach its vision of 45 GW capacity by 2030, the company official said.

With an overall portfolio of 20.4 GW along with operating, under-construction and awarded assets catering to investment-grade counterparties, AGEL now has one of the largest global renewable portfolios.

The company’s portfolio includes owning, developing, building, operating and maintaining utility-scale grid-connected solar, wind farm and Hybrid plants. AGEL’s key customers list includes SECI, National Thermal Power Corporation (NTPC) and various State Discoms.

Stock Market Graph

Saurabh Mukherjea Discards Multibagger, Picks New Smallcap

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Saurabh Mukherjea Picks Vijaya Diagnostic Centre over Gujarat Ambuja Exports. Said, the huge network of hubs and spokes built by the company in the vicinity of Hyderabad gave it an edge in corporate tie-ups as well as in wellness packages.

Making changes to his small-cap portfolio Saurabh Mukherjea recently picked Vijaya Diagnostic Centre NSE 4.76 per cent and discarded Gujarat Ambuja Exports NSE – 0.64 per cent. Since then, a fall of around 30 per cent is seen in the shares of Vijaya Diagnostic Centre, listed at Rs 542.30 on September 14, 2021 from its 52-week high of Rs 672.50.

Dalal Street’s top fund manager’s team which runs Marcellus PMS fund noted the two key competitive advantages of Vijaya:

Radiology and pathology both as an integrated business model offers one-stop convenient solutions for clients. Furthermore, the huge network of hubs and spokes built by the company in the vicinity of Hyderabad allows Vijaya an edge in corporate tie-ups as well as in wellness packages.

With the high-end equipment quality and the quality of the radiologists employed by it, gives Vijaya’s quality edge over its peers.

Considering the two factors, Team Mukherjea said that Vijaya could gain a market share of around 20 per cent in Hyderabad and capturing other cities of Andhra Pradesh and Telangana in recent years. Accommodating the diagnostic stock, Saurabh sold multibagger Gujarat Ambuja Exports, which crossed over 300 per cent in the last five years.

“Gujarat Ambuja Exports secured lowest score in our position sizing framework for the portfolio and comparatively Vijaya Diagnostic Centre score was good,” said Marcellus on the rearrangement its portfolio of smallcap stocks.  One year data shows that the fund has performed well leaving its own benchmark BSE Smallcap behind by giving a return of 8.8 per cent as against the index’s return of 7.3 per cent.

Source: freepik.com

NSE Down 0.36 Percent

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Markets were on edge, as investors assessed the possibility of the U.S. Federal Reserve going for a 100-basis-point interest rate hike next week to tackle elevated inflation

Indian shares retreated from a five-month peak on Thursday, as banks slipped from record highs and technology stocks extended a decline, outweighing sharp advances in automakers.

The NSE Nifty 50 index was down 0.36 per cent at 17,938.35, as of 0513 GMT, while the S&P BSE Sensex slipped 0.32 per cent to 60,153.9.

Markets were on edge, as investors assessed the possibility of the U.S. Federal Reserve going for a 100-basis-point interest rate hike next week to tackle elevated inflation.

Meanwhile, Fitch cut India’s economic growth forecast for 2022/23 to 7 per cent from 7.8 per cent, in the backdrop of a slowdown amid global economic stress, elevated inflation and tighter monetary policy.

“About one-thirds of respondents believe that the Fed will go for a 100 bps hike, and that is continuing to have a rub-off effect on IT stocks along with the rating downgrades,” said Aishvarya Dadheech, a fund manager at Ambit Asset Management.

The Nifty IT index slumped 1.4 per cent after dropping 3.7 per cent in the previous session, with tech major Infosys sliding 2.4 per cent. Infosys has lost nearly 7 per cent over the last two sessions, hit in part, by a downgrade from Goldman Sachs to ‘sell’. read more

The Nifty Bank index slipped 0.21 per cent after hitting a record high earlier in the session.

Meanwhile, automakers’ stocks were a bright spot in the tepid market, with carmaker Maruti Suzuki India climbing 4 per cent to its highest in over 4 years.

The Nifty Auto index jumped 1.5 per cent to a record high.

“We may remain on the sidelines until the Fed meeting,” Dadheech said, adding that new peaks for local markets could not be ruled out during the upcoming festive season, given strong foreign equity inflows, and moderation in commodity prices.

(Reuters)

tata

Multibagger Tata Stock Reaches Lifetime High For Sixth Straight Day

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Automotive Stampings and Assemblies Ltd shares, on the other hand, are an exception. This multibagger auto stock has returned more than 800% in the previous year, delivering significant alpha return

The bulk of the shares of the Tata group have provided fantastic returns to its owners throughout this time period, despite the fact that the key benchmark indexes BSE Sensex and Nifty 50 have provided modest returns to stock market investors. 

In fact, a few of them have recently offered multibagger returns to their positioned shareholders. One of Dalal Street’s multibagger stocks during the last year is the stock of Indian Hotels Company. This multibagger hospitality stock has returned 115% over the past year, but the narrative doesn’t end there.

For the previous six sessions, this Tata group hospitality stock has been hitting all-time highs. The Indian Hotels share price rose today, reaching a new all-time high of 307.20 per share on the NSE. In the previous six sessions, this Tata group stock has increased from roughly 273 to 307 per share, giving a 12 percent return to its stockholders. 

Meanwhile, Automotive Stampings, TTML, and Indian Hotel are three Tata stocks that have at least quadrupled their owners’ money in the recent year. Automotive Stampings and Assemblies Ltd shares, on the other hand, are an exception. This multibagger auto stock has returned more than 800% in the previous year, delivering significant alpha return.

economy

ITC’s Market Valuation Rebounds To ₹4 Lakh Crore After 5 Years

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The company’s market capitalization last surpassed Rs 4 trillion on July 14, 2017, when it reached Rs 4.10 trillion on a closing level basis.

 Imperial Tobacco Company of India Limited (ITC), India’s largest cigarette manufacturer and second-largest fast-moving consumer goods (FMCG) business, recovered a market capitalization of Rs 4 trillion on Friday as the stock’s climb on the bourses continued.

The share price of ITC has touched a five-year high of Rs 323.15 in intraday trade today, rising 1.75 percent on the BSE amid expectations of robust earnings growth. The stock has increased by 50 percent in the last six months, compared to a 6 percent increase in the S&P BSE Sensex. The company has gained 47 percent so far in the calendar year 2022 compared to a 0.54 percent loss in the benchmark index.

According to BSE, ITC’s market valuation reached Rs 4.01 trillion at 2:17 pm before the market closed. The stock was up 1.75 percent at Rs 323.15, while the Sensex was up 0.06 percent. The counter experienced a surge in activity with average trading volumes more than tripling when compared to the previous 10-day volume. At the time of writing, a total of 21.23 million equity shares had traded on the NSE and BSE.

However, the company’s market capitalization last surpassed Rs 4 trillion on July 14, 2017, when it reached Rs 4.10 trillion on a closing level basis. ITC declared a record high market valuation of Rs 4.16 trillion on 3 July 2017. On the same day, the stock reached an all-time high of Rs 353 per share.

economy

Indian Shares End Lower As Public Sector Banks, Tech Stocks Fall

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The NSE Nifty 50 index and the S&P BSE Sensex ended down 0.18 per cent at 15,938.65 and 53,416.15, respectively

Indian shares closed lower for a fourth straight session as public sector banks and information technology companies fell on Thursday, while investors worried about aggressive interest rate hikes by the Federal Reserve after hot US inflation data. The NSE Nifty 50 index and the S&P BSE Sensex ended down 0.18 per cent at 15,938.65 and 53,416.15, respectively. US consumer prices accelerated in June, resulting in the largest annual increase in inflation in 40-1/2 years and cementing the case for the Fed to hike interest rates by 75 basis points later this month. Strong domestic inflation data earlier this week also raised the prospect of more rate hikes by the Reserve Bank of India, supported by the rupee hitting record lows against the greenback for a fourth straight session.

With Indian and US CPI out of the way, markets will now increasingly take a stock specific action as the domestic earnings season has began, said Anand James, chief market strategist at Geojit Financial Services. Shares of Butterfly Gandhimathi Appliances surged 18 per cent after its June-quarter net profit soared, while Hindustan Zinc jumped 6 per cent after the company approved its biggest dividend since October 2020. The Nifty public sector bank index fell 2.2 per cent, while the IT index dropped 1.6 per cent. The pharma index rose 0.8 per cent, while the energy index advanced 1 per cent. Sun Pharmaceuticals was the top gainer in the Nifty 50 index, rising 2.3 per cent, while Hero Motocorp fell the most at 1.8 per cent.

(Reuters)

Sebi

Mutual Funds Can Resume Investing In International Stocks: Sebi

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This came in the wake of a major correction in global markets that brought down the valuation of international stocks

Capital markets regulator Sebi has permitted mutual funds to again invest in foreign stocks within the aggregate mandated limit of USD 7 billion for the industry.

This came in the wake of a major correction in global markets that brought down the valuation of international stocks.

In January, Sebi had asked mutual fund houses to stop taking fresh subscriptions in schemes investing in overseas stocks. The directive to stop subscription was mainly on account of the mutual fund industry crossing the mandated limit of USD 7 billion for overseas investments.

The recent meltdown in global stocks reduced the cumulative value of investments made by all the mutual fund houses together.

“Mutual fund schemes may resume subscriptions and make investments in overseas funds/securities up to the headroom available without breaching the overseas investment limits as of end-of-day of February 1, 2022, at the mutual fund level,” Sebi said in a communication sent to Amfi on Friday.

Also, the regulator has asked Association of Mutual Funds in India (Amfi) to ensure that the total utilisation of the overseas limit by each AMC or mutual fund remains capped at the February level.

The regulator’s approval came after Amfi made a request to Sebi for reviewing investment in overseas securities by mutual funds.

Meanwhile, Edelweiss Mutual Fund announced that it will be accepting inflows in its international schemes from Tuesday.

The schemes are — ASEAN Equity Off-shore Fund, Greater China Equity Off-shore Fund, US Technology Equity Fund of Fund, Emerging Markets Opportunities Equity Offshore Fund, Europe Dynamic Equity Offshore Fund, US Value Equity Off-shore Fund and MSCI India Domestic & World Healthcare 45 Index Fund.

Following the Sebi’s direction, several fund houses, including PPFAS Mutual Fund, DSP Mutual Fund and Edelweiss Mutual Fund, had stopped accepting inflows into their certain schemes with international mandates.

The Securities and Exchange Board of India has set an overall industry level limit of USD 7 billion for mutual funds to invest in overseas securities and funds and a separate limit of USD 1 billion for investment in overseas ETFs.

PTI

economy

Asian stocks follow Wall Street higher as virus fears ease

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Shanghai, Tokyo, and Hong Kong advanced. Oil prices gained for a second day.

Asia stock markets followed Wall Street higher Tuesday as anxiety about the coronavirus’s latest variant eased.

Shanghai, Tokyo and Hong Kong advanced. Oil prices gained for a second day.

Wall Street’s benchmark S&P 500 index gained 1.2% after the chief White House medical adviser said the omicron variant might be less dangerous. That might allow travel and business restrictions to ease.

Reports from South Africa, where omicron first was spotted, that hospitals haven’t been overwhelmed is fuelling some optimism among traders who sold earlier, said Yeap Jun Rong of IG in a report.

The Nikkei 225 in Tokyo gained 1.3% to 28,282.01 and Hong Kong’s Hang Seng advanced 1.4% to 23.678.51. The Shanghai Composite Index added less than 0.1% to 3,589.95.

The Kospi in Seoul advanced less than 0.1% to 2,974.00 and Sydney’s S&P-ASX 200 gained 0.4% to 7,273.10.

New Zealand declined while Southeast Asian markets gained.

On Wall Street, the S&P 500 rose to 4,591.67. The Dow Jones Industrial Average rose 1.9% to 35,227.03. The Nasdaq added less than 0.1% to 15,225.15.

More than 85% of stocks in the S&P 500 gained, led by technology and banks.

Airlines, cruise lines and other travel companies that stand to gain from avoiding more anti-coronavirus controls advanced after Dr Anthony Fauci said early indications suggested omicron may be less dangerous than the earlier delta variant.

Norwegian Cruise Line vaulted 9.5% for the biggest gain in the S&P 500. American Airlines climbed 7.9%, while United Airlines gained 8.3%.

It will still take a few weeks to learn whether omicron is more contagious, causes more severe illness or evades immunity.

Investors also are factoring mixed US jobs data and the Federal Reserve’s plan to accelerate its withdrawal of stimulus to cool inflation pressures.

The US government is due to report November consumer inflation on Friday.

In energy markets, benchmark US crude rose 59 cents to 70.08 per barrel in electronic trading on the New York Mercantile Exchange. The contract jumped 3.23 on Monday to 69.49. Brent crude, the price basis for international oils, added 38 cents to 73.46 per barrel in London. It surged 3.20 the previous session to 73.08 per barrel.

The dollar rose to 113.54 yen from Monday’s 113.49 yen. The euro advanced to 1.1292 from 1.1278.

PTI

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