SGX Nifty Indicates Firm Opening | Sancode Technologies IPO | Outlook for Agrochemical Companies | Top Buzzing Stocks Today

Fri, 31 Mar Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Wednesday, Indian share markets continued their momentum and extended gains as the session progressed to end higher.

Benchmark indices remained volatile but witnessed buying activity in closing hours tracking positive global cues.

At the closing bell on Wednesday, the BSE Sensex stood higher by 346 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 166 points (up 0.9%).

Adani Enterprises, Adani Ports and Eicher Motors were among the top gainers.

UPL, Bharti Airtel and Asian Paints on the other hand, were among the top losers.

Both, the BSE Midcap index and the BSE SmallCap index ended 1.7% higher on Wednesday.

All sectoral indices ended in green, with stocks in the realty sector, metal stocks and auto sector witnessing heavy buying. Banking stocks also gained traction.

Shares of NCC and Zydus Lifesciences hit their 52-week high.

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...

At 7:30 AM today, the SGX Nifty was trading up by over 100 points at 17,240 levels.

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

Speaking of stock markets, In 2022, the Indian Space Research Organisation (ISRO) turned 50. The institution's R&D activities over last 5 decades were reasonably secretive, if not obscure.

They were certainly not in the realm of commoners like us to track. So, space related commercial activities were almost unthinkable. But in the last few years, things changed. And dramatically so.

Most of the changes germinated in the space startups. But how many private Spacetech companies have you heard of apart from SpaceX? Well, if you haven't heard of many, be prepared for it now.

In the below video: Co-head of research at Equitymaster, Tanushree Banerjee talks about India's spacetech stocks in the making.

Top buzzing stocks today

Mawana Sugars share price will be in focus today.

The sugar producer informed exchanges that its board of directors has constituted a committee of independent directors to explore the possibility and take all necessary steps to sell the company's non-agricultural land in Uttar Pradesh.

The land admeasuring 40.5 acres is situated at village Bajhera Kalan in Ghaziabad.

Shalby will also be a top buzzing stock.

Shares of Shalby, a multi-speciality hospitals chain, will be in focus as recently ace investor Porinju Veliyath bought 6.1 lakh shares, of the company.

Veliyath-owned Equity Intelligence India has bought the shares in Shalby at an average price of Rs 117 apiece.

Taking the deal into consideration, the Indian investor and fund manager has invested around Rs 71.3 million (m) in the small cap company.

A dull quarter for cement stocks

The March 2023 quarter was a washout for cement companies as far as movement in cement prices is concerned.

Reportedly, the all-India average retail price dropped Rs 8 per 50 kg bag on a month-on-month basis to Rs 371 in March. With that, all-India average cement prices are likely to be up around 2% year-on-year but may remain largely flat sequentially in Q4 of the current financial year.

Attempts of price hikes have failed to sustain due to the volume push, lower-than-expected demand, and increased discount offerings.

In some areas, unseasonal rains and lower labour availability also impacted construction activities, thus cement companies were facing tough times.

This means that investors should brace for subdued sequential realisations growth in the upcoming quarterly earnings.

SME IPO opens for subscription today

The initial public offering (IPO) of Sancode Technologies is opening today and it will remain open for bidding till 6 April 2023. The SME company aims to raise Rs 51.5 m from its public offer through issuance of fresh shares of the company.

Sancode Technologies IPO price has been fixed at Rs 47 per share and it proposed for listing on BSE SME exchange.

An applicant would be able to apply in lots and one lot will comprise 3000 company shares. A retail investor can invest in maximum one lot that means minimum and maximum investment limit in the BSE SME IPO has been fixed at Rs 1.41 lakh (Rs 47 x 3000).

The tentative date for share allocation is 12 April 2023. Bigshare Services has been appointed as official registrar of the public issue.

The likely date for share listing is 18 April 2023.

What changed for agrochemical companies in financial year 2023?

The Indian agrochemicals industry had a rough financial year due to high raw material costs and inventory build-up in the market. These factors took a toll on revenue growth and margins, particularly in the December quarter.

For most companies, revenue growth was mainly price-driven, while volume growth remained muted. Against this backdrop, shares of domestic agrochemicals companies have declined 10%-15% this past year.

Raw material prices, however, have been easing over the past few months, providing respite to companies operating in this space. Analysts expect Q4 to be good for companies such as UPL, Rallis India, Dhanuka Agritech, Bayer Cropscience and Sumitomo Chemical India.

In FY24, monsoon rains and kharif crop prices will be crucial factors for the domestic agrochemical industry. While moderating inventories will help volume growth going forward, it must be closely monitored. This is because any delay in sowing could again lead to inventory build-up.

On the positive side, raw material costs are expected to remain low, with the Chinese market re-opening post-lockdown.

Having said that, crop prices in the export market have been trending lower over the past few months. Market experts believe that the banking crisis unfolding in the US and Europe could further exacerbate pressure on end-demand.

Meanwhile, the fertilizer industry, too, will face an overhang in the coming quarters, particularly because of the government's efforts to curb subsidies. Government has already taken a step in this direction by reducing amount allocated for fertiliser subsidies in its budget for financial year 2024.

The Indian fertilizer company faces a challenging outlook, with the government trying various means to reduce usage, including pushing nano-fertilizers and piloting a scheme (in seven districts) to cap sales of subsidized fertilizers.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers