SGX Nifty Down 38 Points | Tata Group to Bolster Digital Business | IGL Announces Interim Dividend | Top Buzzing Stocks Today

Fri, 24 Mar Pre-Open

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On Thursday, Indian share markets swung between gains and losses as the session progressed but fell sharply during closing hours.

Benchmark indices fell as investors juggled between the US Federal Reserve's interest rate decision and the weekly F&O expiry.

At the closing bell on Thursday, the BSE Sensex stood lower by 289 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 75 points (down 0.4%).

Hindalco, Maruti Suzuki and Nestle were among the top gainers.

SBI, Bajaj Auto and Asian Paints, on the other hand, were among the top losers.

The BSE Midcap index fell 0.5% while the BSE SmallCap index ended 0.2% lower.

Sectoral indices ended on a mixed note with stocks in the power sector, and telecom sector witnessing most of the buying.

On the other hand, stocks from the realty sector, and IT sector witnessed selling pressure.

Shares of NCC hit their 52-week highs on Thursday.

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...

The rupee was trading at 82.65 against the US$.

Gold prices for the latest contract on MCX were trading 0.9% higher at Rs 59,283 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:20 AM today, the SGX Nifty was trading down by 38 points or 0.2% lower at 17,050 levels.

Indian share markets are headed for a negative opening today following the trend on SGX Nifty.

Speaking of share markets, projecting a company's position and market share 10 years out or for that matter even 10 months ahead isn't an exact science.

However, with an unchallenged dominance in a particular segment, investors can find certain companies which are unlikely to lose their leadership anytime soon and are potentially winners.

In the below video, Yazad Pavri talks about one such company.

Top Buzzing Stocks Today

Maruti Suzuki will be among the top buzzing stocks today.

Maruti Suzuki on Thursday, announced its plan to increase the prices of its model range in April 2023 to partially offset the impact of overall inflation and regulatory requirements.

RPP Infra will also be in focus today.

RPP Infra Projects on Thursday bagged new order worth Rs 1.7 bn for water supply service in Sheopurkalan & Badoda Nagar Parishads in Sheopur Districts in Madhya Pradesh.

Tata Group to boost its digital platform

Tata Group is considering injecting another US$ 2 billion (bn) of fresh capital into its super app venture as the salt-to-software conglomerate seeks to bolster its digital business.

Tata Digital Pvt. will receive the additional funding over two years should a deal proceed, which could help the conglomerate's super-app Tata Neu in multiple ways.

Tata Group has asked Tata Digital to look for ways to boost the valuation of the super app.

Tata Neu was modelled on China's Alipay and WeChat but ran into technical glitches and customer complaints soon after its launch last year.

Reliance Industries Ltd and Adani Group are looking to roll out their super apps as well.

The Tata Neu app, which was launched in April 2022, brings together grocery-to-hotel-to-airline ticket booking services and many of the group's brands on a single platform as the conglomerate seeks to have a bigger play in the fast-growing Indian e-commerce space.

As you're interested in Tata group stocks, check out the new section in our Stock Screener where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

Indraprastha Gas announces interim dividend

Indraprastha Gas (IGL) announced its second interim dividend of Rs 10 per equity share for the current financial year 2022-23. The company has fixed 31 March 2023 as the record date for the said dividend payment.

In the past 12 months, the company has declared an equity dividend of Rs 18.5 per share, resulting in a dividend yield of 4.21%.

Indraprastha Gas is a leading Indian natural gas distribution company that supplies natural gas as cooking and vehicular fuel. The company operates primarily in Delhi-NCR, including neighbouring cities like Noida.

If you want to dig deeper, use Equitymaster's stock screener to check?high dividend yield stocks?and?the best dividend stocks to buy.?

Kalpataru Power Transmission secures new order

Kalpataru Power Transmission on Thursday bagged orders worth Rs 24.8 bn.

The new orders include Rs 11.8 bn orders in the T&D (transmission distribution) business in India and overseas markets.

The orders also include EPC (Engineering, Procurement and Construction) projects in the water business of Rs 12.9 bn.

The orders in the T&D business have significantly increased the company's order book, particularly in the domestic market.

Additionally, with the new project in EPC place, its water business will diversify its presence in rural piped water supply projects.

With the above order wins, our YTD order intake has reached a record of Rs 251.5 bn.

TVS Motor gains ground in EV market

For TVS Motor, increasing electric vehicle (EV) penetration was flagged as a key risk as the automaker derives a significant portion of its volume from internal combustion engine (ICE) scooters. This segment is the most vulnerable to rising EV adoption.

But with TVS focusing on electrification, volumes of its EV product, iQube has risen.

The automaker's market share in the electric two-wheeler (2W) segment has increased from almost 2% in January 2022 to 20% in March 2023 so far.

So far, in 2023, TVS holds the second spot in terms of market share in the electric 2W segment. Ola Electric currently holds the top position with nearly 27% market share.

TVS' March-to-date electric 2W market share is comparable to the 24% market share in ICE scooters.

Further, TVS plans to launch more products in the EV segment, which would further aid volumes. Electric 2W volumes formed 5-6% of total 2W wholesale volumes in January-February.

Further, the company has managed to battle cost pressures.

This was one reason for the 73% appreciation in TVS stock over the past year, besides the company's improving prospects in the EV segment.

With riding the EV opportunities in the two-wheeler space, it is among the?top EV revolution companies in India.

Note that the?electric vehicle (EV) megatrend?is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and?India's top EV stocks?are set to benefit from this shift.

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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