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LIC IPO, Tata Motors December Sales, and Buzzing Stocks Today
Mon, 4 Jan Pre-Open | Monish Vora, TM Team

Indian share markets ended the first trading day of the year 2021 on a positive note.

Benchmark indices witnessed positive trading activity on Friday and the Nifty ended above the 14,000 level for the first time.

At the closing bell on Friday, the BSE Sensex stood higher by 117 points (up 0.3%).

The NSE Nifty stood higher by 36 points (up 0.3%).

Adani Ports & SEZ and TCS were among the top gainers.

ICICI Bank, on the other hand, was among the top losers.

The BSE Mid Cap index ended up by 1.2%. The BSE Small Cap index ended higher by 0.9%.

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Except banking, all the sectoral indices ended on a positive note with stocks in the telecom sector and capital goods sector witnessing maximum buying interest.

At 8:00 am today, the SGX Nifty was trading up by 114 points, or 0.8% higher at 14,130 levels. Indian share markets are headed for a firm opening today following the positive trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 50,229 per 10 grams at the time of closing stock market hours on Friday.

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Top Stocks in Focus Today

Jubilant FoodWorks will be among the top buzzing stocks today.

Jubilant FoodWorks will invest Rs 920 million to buy a 10.76% stake in Barbeque Nation Hospitality (BNHL), which runs the popular Barbeque Nation (BBQ) chain of restaurants.

"The company will acquire 36,50,794 fully paid-up equity shares of face value of Rs 5 each aggregating to 10.76% stake in BNHL," Jubilant FoodWorks, which operates the Domino's Pizza chain and the Dunkin' Donuts coffee and doughnut chain in India, said in a regulatory filing on Thursday last week.

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Canara Bank share price will also be in focus as the lender said it has raised Rs 16.3 billion through issuance of additional tier-I bonds.

"Canara Bank has raised capital by issuing additional tier-1 (AT-1) bonds to the tune of Rs 16.3 billion at 8.5% coupon on December 31, 2020," a release said.

The above development will help the lender increase its capital adequacy ratio.

Market participants will also track Antony Waste Handling Cell share price as the stock made a solid debut on the bourses on Friday and got listed at a premium of 38.4% at Rs 436 apiece.

The company's IPO was subscribed 15 times in total and joined the likes of Burger King India and Mrs Bectors Food Specialities whose offers were also oversubscribed within a few hours of opening.

IPO Buzz: Government Moves a Step Closer Towards Listing LIC

In latest developments from the IPO space, the government has moved a step closer towards the listing of India's largest insurer Life Insurance Corporation of India (LIC).

The Department of Investment and Public Asset Management (Dipam) has selected Milliman Advisors LLP India for ascertaining the embedded value of LIC before its listing, which is seen as India's one of the largest initial public offerings.

The work on determining the embedded value of India's largest insurer would start soon, Dipam Secretary Tuhin Kanta Pandey tweeted.

This would help the government in moving ahead for the listing as the valuation of LIC would be derived. Once valuation is decided, the government will have to appoint merchant bankers for the transaction.

The LIC IPO will help government in getting a substantial chunk in divestment receipts.

The government had budgeted Rs 2.1 trillion as divestment receipts for the current financial year, out of which Rs 900 billion was expected to be mopped up from LIC listing and a stake sale in IDBI Bank.

How the above developments pan out remains to be seen. Meanwhile, we will keep you updated on all the news from this space.

Tata Motors Posts 84% YoY Growth in December Sales

In news from the auto sector...

Tata Motors share price will be in focus today as the auto major garnered a total of 23,546 units last month as against 21,640 during the previous month with a month-on-month (MoM) growth of 9%.

On a year-on-year (YoY) basis, Tata Motors registered a massive 84% YoY growth in sales as only 12,785 units were sold in December 2019.

The brand held on to the third position comfortably ahead of Mahindra, Kia, Renault, Honda and Toyota.

It had a market share of 8.5% as against just 5.4% during the corresponding month in 2019.

The company is also looking forward to launching a host of new models in the coming year.

On January 13, the turbocharged version of the Altroz competing against Hyundai i20 Turbo will be introduced in the market ahead of the arrival of the seven-seater Harrier known as the Gravitas on January 26.

By the middle of this year, Tata will also launch the production version of the HBX concept and it is expected to make a big impact in the micro SUV segment. In addition, the electric version of the Altroz could also be in the works for debut in the later stages of 2021.

We will keep you updated on all the news from this space. Stay tuned.

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!

Read the latest Market Commentary

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Stock Market Updates

J&K BANK Share Price Up by 8%; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:35 PM

J&K BANK share price is trading up by 8% and its current market price is Rs 32. The BSE BANKEX is up by 2.8%. The top gainers in the BSE BANKEX Index are J&K BANK (up 7.6%) and RBL BANK (up 5.2%).

RELIANCE IND. Share Price Up by 5%; BSE OIL & GAS Index Up 1.3% (Today's Market)

Mar 3, 2021 03:27 PM

RELIANCE IND. share price is trading up by 5% and its current market price is Rs 2,216. The BSE OIL & GAS is up by 1.3%. The top gainers in the BSE OIL & GAS Index is RELIANCE IND. (up 5.1%). The top losers are PETRONET LNG (down 0.1%) and BPCL (down 0.4%).

AU SMALL FINANCE BANK at All Time High; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:23 PM

AU SMALL FINANCE BANK share price has hit an all time high at Rs 1,224 (up 4.2%). The BSE BANKEX Index is up by 2.8%. Among the top gainers in the BSE BANKEX Index today are AU SMALL FINANCE BANK (up 4.2%) and KOTAK MAHINDRA BANK (up 3.0%).

REDINGTON Share Price Down by 5%; BSE 500 Index Up 1.9% (Today's Market)

Mar 3, 2021 03:13 PM

REDINGTON share price is trading down by 5% and its current market price is Rs 200. The BSE 500 is up by 1.9%. The top gainers in the BSE 500 Index are IFCI (up 19.9%) and IDBI BANK (up 12.1%). The top losers are REDINGTON (down 5.1%) and SYMPHONY (down 5.1%).

RBL BANK Share Price Up by 5%; BSE BANKEX Index Up 2.7% (Today's Market)

Mar 3, 2021 03:09 PM

RBL BANK share price is trading up by 5% and its current market price is Rs 249. The BSE BANKEX is up by 2.7%. The top gainers in the BSE BANKEX Index are RBL BANK (up 5.0%) and FEDERAL BANK (up 5.7%).

Sensex Trades Over 500 Points Higher; Dow Futures Up by 147 Points (Today's Market)

Mar 3, 2021 12:30 pm

BSE Sensex is trading up by 586 points, while the NSE Nifty is trading up by 190 points.

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