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Sensex Today Rallies 600 Points, Tops 73,000 Mark | Nifty Above 22,000 | Wipro Surges 10%

Mon, 15 Jan 10:30 am

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Asian shares got off to a sluggish start on Monday ahead of a week packed with geopolitical risk, Chinese economic data and earnings reports from major US banks.

The Nikkei index was trading 0.2% lower, while Hang Seng was trading 0.5% lower. Meanwhile Shanghai index shed 0.4%.

US stocks barely changed on Friday, after wavering between modest gains and losses, as mixed bank earnings offset cooler-than-expected inflation news that buoyed hopes for interest-rate cuts from the Federal Reserve.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	144.24	0.57	0.40%	144.74	143.36	146.66	88.86
Apple	185.92	0.33	0.18%	186.74	185.19	199.62	131.66
Meta	374.49	4.82	1.30%	377.06	369.54	377.06	132.14
Tesla	218.89	-8.33	-3.67%	225.34	217.15	299.29	115.6
Netflix	492.16	-0.07	-0.01%	500.79	490.61	503.41	285.33
Amazon	154.62	-0.56	-0.36%	156.2	154.01	157.17	88.12
Microsoft	388.47	3.84	1.00%	388.68	384.65	390.68	230.68
Dow Jones	37592.98	-118.04	-0.31%	37825.27	37470.19	37825.27	31429.82
Nasdaq	16832.92	12.02	0.07%	16900.37	16776.92	16969.17	11246.02

Data Source: Equitymaster

At present, the BSE Sensex is trading 608 points higher and NSE Nifty is trading 143 points higher.

Wipro, Tech Mahindra and Infosys are among the top gainers today.

Eicher Motors, Hero MotoCorp and HDFC Life Insurance on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap and the BSE Small Cap index is trading 0.3% higher.

Barring FMCG sector, other sectoral indices are trading on positive note, with socks in media sector, banking sector and IT sector witnessing most buying.

The rupee is trading at Rs 82.8 against the US dollar.

In commodity markets, gold prices are trading 0.3% higher at Rs 62,567 per 10 grams today.

Meanwhile, silver prices are trading 0.3% higher at Rs 72,711 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

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 prey to them.

So, what exactly are these errors and how are they associated with a stock like Titagarh Rail Systems.

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BHEL to Set Up Thermal Power Plant

Bharat Heavy Electricals Limited (BHEL) will set up a greenfield thermal power plant of 2,400 MW capacity in Odisha's Jharsuguda district.

NLC India Limited, a Navaratna company under the Ministry of Coal, has awarded the EPC (engineering, procurement, and construction) contract to BHEL to set the 2,400 MW capacity (3x800 MW-stage I) after inviting competitive tenders.

The contract scope to BHEL includes engineering, manufacturing, supply, erection and commissioning of equipment such as boilers, turbines and generators for the plant.

For the thermal project, coal linkage is available from the Talabira II and III mines of NLCIL.

The water required for the project will be sourced from the Hirakud reservoir.

The first unit of the project is scheduled for commissioning in the financial year 2028-29.

In the last year, the company's stock price gave multibagger returns of 141% to its shareholders.

For more, check out 5 Midcap Stocks that Could Turn into Largecaps in 2024.

Adani Enterprises to Set Up Electrolysers Manufacturing Capacity

Adani Enterprises on Friday received a Letter of Award (LoA) from Solar Energy Corporation of India for setting up manufacturing capacity for Electrolysers in the country under the Strategic Interventions for Green Hydrogen Transition Scheme.

The incentive to be allocated over five years from the scheduled commissioning date is Rs 2.9 billion (bn).

Twenty companies, including Reliance Industries, Adani Group, Jindal India, Larsen & Toubro and Bharat Heavy Electricals submitted bids for incentives to manufacture electrolysers.

In July, India invited a pilot bid to incentivise the production of green hydrogen and the manufacturing of electrolysers.

Meanwhile, the Adani group will invest more than Rs 2 trillion (tn) in Gujarat over the next five years.

The investment is expected to create about 100,000 direct and indirect jobs.

Most of the investments announced by the Adani group on Wednesday will be in green energy and its infrastructure. The group is constructing a green energy park in Khavda, Kutch - touted as the largest in the world - which will generate 30 GW of renewable energy.

It is also expanding the green supply chain for creating an integrated renewable energy ecosystem. This will include solar panels, wind turbines, hydrogen electrolysers, green ammonia, photovoltaic cells and expansion in copper and cement production.

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.

Lupin Receives USFDA Approval

Lupin has received approval from the US Food and Drug Administration for Propranolol Hydrochloride Extended-Release Capsules.

This new medicine helps in lowering blood pressure, relaxes the blood vessels in the brain and can prevent migraine headaches. This drug had an annual sales of US$ 71 million (m) in the US, according to data shared by the Mumbai-based drug maker.

Lupin will release the drug in four strengths: 60 milligrams (mg), 80 mg, 120 mg, and 160 mg. This is the third new launch announced by the company in the last week.

The other two are Varenicline tablets and bromfenac ophthalmic solution (used to treat inflammation and pain among patients who have undergone.

Shares of Lupin have rallied over 84% in the last year. In the first fortnight of 2024, investors in Lupin have seen their wealth go up by nearly 6%.

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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