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Markets will remain closed on 14th April, 2021 on account of Dr. Baba Saheb Ambedkar Jayanti.

India's EV Financing Industry Growth by 2030, IEX Divestment Plan, and Buzzing Stocks Today
Fri, 12 Mar Pre-Open | Monish Vora, TM Team

Indian share markets ended higher on Wednesday.

At the closing bell on Wednesday, the BSE Sensex stood higher by 254 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 76 points (up 0.5%).

Bajaj Finance and Sun Pharma were among the top gainers.

ONGC and Kotak Mahindra Bank, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.8% and 1%, respectively.

On the sectoral front, gains were largely seen in the metal sector, healthcare sector and IT sector.

Oil & gas stocks, on the other hand, witnessed selling pressure.

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Market participants were tracking shares of KPR Mill and Graphite India as they hit their respective 52-week highs on Wednesday.

Market participants were also tracking NALCO share price. The company's board is scheduled to meet on March 15 to consider interim dividend for FY21.

At 8:00 am today, the SGX Nifty was trading down by 33 points, or 0.2% lower at 15,380 levels. Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Gold prices were trading down by 0.3% at Rs 44,740 per 10 grams at the time of closing stock market hours on Wednesday.

Speaking of stock markets, in his latest video, Co-head of Research at Equitymaster, Rahul Shah talks about the qualities that make for a good investment in an up and down market.

One day the Sensex is up 1,000 points and another day it falls by a similar margin.

How does one choose the right stocks in this environment? What are the qualities one should look for in these stocks?

Rahul Shah discusses these points and more in the video below. Tune in to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be HPCL.

Hindustan Petroleum Corporation Limited (HPCL) will set up a compressed biogas (CBG) project at Badaun in Uttar Pradesh. The plant will be developed by Praj Industries, a Pune-based process and project engineering company.

The project with a capacity to process 35,000 tonnes of rice straw as feedstock to generate 5,250 tonnes of CBG annually will also generate 23,000 tonnes of high-quality solid bio-manure and 350,000 tonnes of liquid bio-manure for ferti-irrigation, Praj said in a statement.

India's Revival: A Once-in-a-Generation Wealth Making Opportunity

Market participants will also be tracking Tata Capital share price today.

Earlier this month, Cashinvoice, a Fintech company, appointed to its board of directors Govind Sankaranarayanan, the founding chief financial officer and chief operating officer of Tata Capital.

Sankaranarayanan, who was also CFO at Tata Communications, has spent a decade establishing financial services powerhouse Tata Capital Financial Services.

From the steel sector, market participants will be tracking shares of Tata Steel and Tata Steel PP.

The Income Tax Appellate Tribunal (ITAT) has refused to grant stay on recovery of tax and interest demands to the tune of Rs 12.2 billion for Tata Steel.

The company had sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 12.2 billion in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment years FY10 to FY15, and also a stay on adjustment of these demands against refund of Rs 4.4 billion.

India's EV Financing Industry Projected to Boom by 2030

In news from the electric vehicles (EV) space, as per an article in The Economic Times, India's EV financing industry is projected to be worth Rs 3.7 lakh crore in 2030, about 80% of the current retail vehicle finance industry.

According to a new report titled 'Mobilising Electric Vehicle Financing in India', prepared by Niti Aayog and Rocky Mountain Institute (RMI) India, end-users currently face several challenges such as high interest rates, high insurance rates, and low loan-to-value ratios.

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It said India's transition to EVs will require a cumulative capital investment of US$ 266 billion in EVs, charging infrastructure, and batteries over the next decade.

The report also identified a toolkit of 10 solutions that financial institutions such as banks and non-banking financial companies (NBFCs), as well as the industry and government can adopt in catalysing the required capital.

Commenting on the report, Niti Aayog CEO Amitabh Kant said the need of the hour is to mobilise capital and finance towards EV assets and infrastructure.

The report pointed out that investment in India's transition to electric mobility has the potential to create significant economic, social, and environmental benefits for the country.

Speaking of electric vehicles, note that Union Transport Minister Nitin Gadkari recently made a claim that India could turn out to be the lowest production center for Tesla cars, even cheaper than China.

The only condition - Tesla has to 'make' them in India and not just 'assemble' them.

Tesla was recently rebuked and received a regulatory summon from Chinese authorities over public dissatisfaction with quality issues in its cars. It won't be surprising to see Elon Musk hunt for new manufacturing grounds.

As per recent reports, Tesla is already set to set up a manufacturing unit in Karnataka and launch EV cars in 2021.

The entire ecosystem for electric vehicles has evolved in India. For example, India makes 80% of lithium-ion battery components locally.

Also, speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.

Here's what Co-Head of Research at Equitymaster, Tanushree Banerjee wrote about electric vehicles in one of her editions of Profit Hunter:

  • 106 public and private entities have approached the government for permissions to set up about 7,000 EV charging stations.

    This clearly shows the vehicle manufacturers have enough incentive to capture this latent demand.

    The tax benefit in terms of a lower GST rate (at 5%) is a further shot in the arm of the EV industry.

As per Tanushree, electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

Tanushree believes one of the companies manufacturing lithium ion batteries for powering electric cars will be a key catalyst for the Rebirth of India.

IEX to Divest 26% Stake in IGX to NSE; ONGC to Buy 5% Stake

Indian Energy Exchange (IEX) announced strategic divestment of 26% of its equity holding in the Indian Gas Exchange (IGX) to National Stock Exchange (NSE) and additional 5% equity holding to ONGC.

Under the agreement, NSE will purchase 1,92,07,500 equity shares having a face value of Rs 10 each representing 26% stake of IGX from IEX for Rs 192 million.

Further, ONGC will purchase 36,93,750 equity shares representing 5% stake in IGX from IEX for Rs 36.9 million.

Speaking on the occasion, S N Goel, chairman and MD of IEX and director IGX said, "Having NSE and ONGC as our partners is a natural choice for us in our endeavour to deepen India's gas markets. We are enthused and delighted about the new partnerships. Both NSE and ONGC bring their unique value proposition and leadership edge in markets and hydrocarbon sector respectively to the table."

Earlier this year, IEX announced the strategic investments of 5% each by leading players in the gas value chain - Adani Total Gas, Torrent Gas and GAIL (India) in IGX.

We will keep you updated on all the developments 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

Sensex Trades Marginally Higher, Dow Futures Up by 17 Points (Today's Market)

Apr 13, 2021 12:30 pm

BSE Sensex is trading up by 167 points, while the NSE Nifty is trading up by 50 points.

Indian Share Markets Open Marginally Higher; ONGC and M&M Top Gainers (Today's Market)

Apr 13, 2021 09:30 am

Indian share markets open in green. The BSE Sensex opened up by 156 points, while the Nifty is trading higher by 52 points.

HEG Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

Apr 13, 2021 09:32 AM

HEG share price is trading up by 5% and its current market price is Rs 2,177. The BSE CAPITAL GOODS is up by 0.7%. The top gainers in the BSE CAPITAL GOODS Index are HEG (up 5.3%) and GRAPHITE INDIA (up 7.5%). The top losers are KALPATARU POWER (down 0.1%) and HONEYWELL AUTOMATION (down 0.4%).

BANK OF MAHARASHTRA Share Price Up by 6%; BSE BANKEX Index Up 1.0% (Today's Market)

Apr 13, 2021 09:32 AM

BANK OF MAHARASHTRA share price is trading up by 6% and its current market price is Rs 24. The BSE BANKEX is up by 1.0%. The top gainers in the BSE BANKEX Index is BANK OF MAHARASHTRA (up 5.9%). The top losers is KOTAK MAHINDRA BANK (down 0.3%).

ADANI PORTS & SEZ Share Price Down by 5%; BSE 500 Index Up 0.1% (Today's Market)

Apr 13, 2021 09:26 AM

ADANI PORTS & SEZ share price is trading down by 5% and its current market price is Rs 755. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are GRAPHITE INDIA (up 5.4%) and GSK CONSUMER (up 5.1%). The top losers are ADANI PORTS & SEZ (down 5.3%) and MAH. SCOOTERS (down 5.2%).

MAHINDRA HOLIDAYS Share Price Down by 6%; BSE 500 Index Up 0.1% (Today's Market)

Apr 13, 2021 09:26 AM

MAHINDRA HOLIDAYS share price is trading down by 6% and its current market price is Rs 221. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are GRAPHITE INDIA (up 5.4%) and GSK CONSUMER (up 5.1%). The top losers are MAHINDRA HOLIDAYS (down 6.4%) and MAH. SCOOTERS (down 5.2%).

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