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Sensex Today Trades Higher | Just Dial Soars 10% | VST Industries, Indus Towers, ICICI Lombard Surge 5%

Thu, 18 Apr 10:30 am

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Asian share markets are mixed today after US shares extended their losing streak to the longest since January 2024.

In US markets, Wall Street indices fell in choppy trading on Wednesday as investors assessed the Federal Reserve's interest rate stance and a batch of soft earnings early in the financial reporting season.

The Dow Jones fell 0.1% while the Nasdaq declined 1.2%. The S&P also declined by 0.6%.

Back home, Indian share markets are trading on a positive note following the trend on GIFT Nifty.

The GIFT Nifty was trading higher by 42 points, signalling that Dalal Street was headed for positive start.

Market participants are tracking shares of Infosys, Bajaj Auto and HDFC Life as these companies are set to announce their Q4 results today.

At present, the BSE Sensex is trading higher by 92 points, while the NSE Nifty is trading around 22,190 levels, up 41 points.

Power Grid and M&M are among the top gainers today.

Nestle India and Titan, on the other hand, are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index gained 0.6% while the BSE Small Cap index is trading higher by 0.8%.

Sectoral indices are trading mixed with stocks in the oil & gas sector, telecom sector and power sector witnessing most of the buying.

While healthcare stocks and FMCG stocks are trading in red.

Shares of Hitachi Energy and Neuland Labs hit their 52-week high today.

Crude oil prices rose today, slightly paring the previous session's losses after the US said it would reinstate oil sanctions Venezuela, while the European Union talked of fresh curbs on Iran.

The rupee is trading at Rs 83.53 against the US dollar.

The rupee ended at a record closing low at 83.5 on Tuesday as rising geopolitical tensions in the Middle East triggered a selloff in risky assets.

In commodity markets, gold prices are trading 0.1% higher at Rs 72,506 per 10 grams today.

Speaking of stock markets, Zill Jain talks about the top transformer stocks to watch out, in the below video.

In an interview, Elon Musk said that artificial intelligence (AI) will run out of electricity and transformers by 2025.

This has put transformer stocks in focus.

Watch the below video to see the companies leading the charge.

Vodafone Idea: What Next After the Billion Dollar Fundraise?

Vodafone Idea has become the market's most popular stock this week following its ongoing Rs 450 bn fundraise through a mix of equity and debt.

According to experts, this may improve the fortunes of the company, but for the medium term.

That's because challenges remain in the long run, particularly after the second half of FY26, when the moratorium ends on spectrum and AGR payments.

This fundraise may enable Vodafone Idea to ramp up network capex and narrow the gap with Reliance Jio and Bharti Airtel on 4G coverage and 5G rollout.

Vodafone Idea has planned to raise Rs 180 bn through a follow-on public offer (FPO) and another Rs 250 bn through debt.

In addition, the company has already approved raising Rs 20.8 bn from a promoter entity through a preferential share issue.

The telco plans to utilise 70% of the FPO proceeds for boosting 4G coverage and capacity and 5G rollout.

At present, Vodafone has around Rs 2.15 trillion in government obligations. The government, however, has the option to convert some dues into equity, a decision that will be taken later.

The government currently holds around 32% stake in Vodafone, which is likely to come down to 24% post the FPO.

Note that Vodafone is planning to improve its network coverage in Ayodhya.

It remains to be seen how the company improves its fortunes in the coming months.

Adani's Big Bet on Data Centres

Adani Enterprises, the flagship company of Gautam Adani's Adani group, is seeking to aggressively expand its data centre business.

AdaniConneX, the equal joint venture between Adani Enterprises and Sweden's EQT-owned EdgeConneX, is looking to invest US$5 billion in the next five years, of which more than half could be ploughed in this year itself.

Of the US$5 bn investment plan, promoter equity infusions would account for around a quarter, according to reports.

Note that this proposed expansion of the data centre business comes on the back of rapid acceleration in AI-led businesses and follow a Supreme Court ruling that said the Adani Group did not require additional investigation after US-based Hindenburg Research had accused it of 'accounting fraud and stock manipulation'.

India's data centre industry is expected to double in the next three years, from about 0.9 Gigawatts (GW) in 2023 to 2 GW in 2026.

According to rating agency Care Ratings, data localisation is expected to trigger compulsory investment in data centres, which highlighted significant under-penetration of data centre capacity in India.

Note that Adani Enterprises could be the biggest beneficiary from this data centre opportunity. The diversified conglomerate is strategically positioned for future growth.

Its foray into green hydrogen, airports, data centres, and roads aligns with India's booming infrastructure and digital transformation needs. While financial health remains a concern, the company's proven track record and recent exoneration from legal hurdles inspire confidence.

However, investors must carefully assess the debt burden and potential risks before making investment decisions.

Adani's ambitious expansion plans hinge on successful execution and navigating a competitive landscape.

Nonetheless, the company's strategic direction positions it to capitalize on megatrends and potentially become a key player in shaping India's future infrastructure and digital landscape.

To know more, check out our detailed research report on Adani Enterprises.

And 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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