Tata Elxsi's Aerospace Collaboration | Berger Paints Eyes Akzo Nobel's Stake | Top Buzzing Stocks Today

Wed, 8 Jan Pre-Open

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Indian benchmark indices gained as the session progressed and ended the day higher.

The benchmark equity indices ended Tuesday's trading session in positive territory.

At the closing bell on Tuesday, the BSE Sensex closed higher by 234 points (up 0.3%).

Meanwhile, the NSE Nifty closed 91 points higher (up 0.4%).

ONGC, Tata Motors and Reliance Industries was the top gainers.

Trent, TCS and Eicher Motors on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended 0.8% higher and BSE SmallCap index ended 1.7% higher.

Sectoral indices were trading mixed today with socks in metal sector, energy sector and oil & gas sector witnessing buying. Meanwhile stocks in media sector and IT sector witnessing selling pressure.

Speaking of stock markets, research analyst, Tanushree Banerjee highlights the growing shift towards digital signatures as entities aim to reduce paper-based transactions. Government agencies, banks, and educational institutions are key users of eSign services.

With the global digital signature market projected to grow from US$ 7.6 bn in 2024 to US$ 119 bn by 2032, driven by a CAGR of over 30%, and blockchain enhancing document security.

What kind of opportunity does this trend present to investors in the fintech space?

Top buzzing stocks today

MobiKwik share price will be in focus today.

MobiKwik's share price jumped nearly 14% in the January 7 trade after the company narrowed its net loss sequentially in the quarter that ended September 2024.

One Mobikwik Systems Limited on Tuesday reported a net loss of Rs 36 m for the September 2024 quarter on account of higher expenses.

GM Breweries will also be a top buzzing stock.

GM Breweries on 7 January said its net profit fell 3% to Rs 220 m for the quarter ended 31 December 2024 as against Rs 226 m a year ago.

GM Breweries' revenue from operations jumped around 4% year-over-year to Rs 6.4 bn in Q3 as against Rs 6.2 bn in the year-ago period.

Tata Elxsi's Aerospace Collaboration

Tata Elxsi has signed a pact with CSIR-National Aerospace Laboratories (CSIR-NAL) to explore innovations in emerging areas such as Unmanned Aerial Vehicles (UAVs), Urban Air Mobility (UAM), and electric vertical take-off and landing (eVTOL) aircraft.

The technology services company is setting up a 'Strategic Partnership for Advanced Air Mobility' to tap into NAL's expertise in aeronautics for global as well as Indian markets.

Tata Elxsi said the partnership with NAL will help accelerate the development of next-generation air mobility solutions.

Tata Elxsi also said the global market for UAVs and UAM is 'rapidly evolving', with applications in logistics, agriculture, defence and transport. The MoU will accelerate product development cycles by providing access to advanced testing infrastructure and expertise.

The Tata Group company added that India offers 'significant opportunities' for indigenisation under the Make in India programme, and there is a growing demand for advanced air mobility solutions.

As part of the pact, Tata Elxsi and CSIR-NAL will also create an ecosystem for precision manufacturing, bringing together stakeholders for innovation and to address the needs of advanced air mobility.

Berger Paints Eyes Akzo Nobel's Stake

Berger Paints Ltd. is actively looking to buy Akzo Nobel's India stake as its global promoters are looking to exit the Indian market by selling their 74.6% stake.

The sources also said that Berger Paints' peer companies, JSW Paints and Indigo Paints are also in the fray to acquire the stake from Akzo Nobel's promoters.

The counters of this deal is yet to be decided as to whether it will be in full cash or a mix.

This deal, according to media reports, is likely to be valued between Rs 100 to Rs 120 bn. Currently, Akzo Nobel commands a market capitalisation of Rs 160 bn for its India entity.

The news comes on the back of Akzo Nobel informing the exchanges on Monday that its international promoter has directed the board to sell its powder coatings business and international R&D operations to a separate indirect subsidiary.

The company has also been directed to commence evaluating and examining the acquisition offers for its promoter stake.

Why Paras Defence Share Price is Rising

Shares of Paras Defence and Space Technologies surged as much as 10% on Tuesday to Rs 1,066.5 on the BSE after the company said it has secured a license from the Department for Promotion of Industry & Internal Trade (DPIIT) to manufacture Light Machine Guns (LMGs).

The license permits the company to produce MK-46 and MK-48 belt-fed Light Machine Guns, advanced and modernized weapons with an annual production capacity of 6,000 units each. The company said that the license, granted under the Arms Act, of 1959, has lifetime validity, further bolstering Paras Defence's position in the defence manufacturing sector.

PNR Inox Hit 44-Month Low

PVR Inox shares hit a 44-month low of Rs 1,154, declining 8% on Tuesday.

This comes in the backdrop of India reporting at least five cases of Human Metapneumovirus (hMPV) on Monday.

The virus causes respiratory illness and was recently identified in China and Malaysia as well.

Two cases were detected in Karnataka, two in Tamil Nadu, and one in Gujarat. All five confirmed cases have been found in children.

For multiplex operators like PVR Inox, the fear of a potential health crisis could not have come at a worse time. The memory of covid-19's devastating impact on the entertainment industry remains fresh.

During the pandemic, multiplexes were forced to shut down for extended periods, leading to a complete halt in operations.

Revenues collapsed as audiences stayed away, film releases were delayed, and alternative platforms like OTT gained traction.

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

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